For previous generations of marketing leaders, the idea of measurement was more theoretical than truly achievable. Marketing programs were largely designed to operate through a “spray-and-pray” methodology, executing initiatives blindly, hoping to make an indeterminate impact on the bottom line. And so understandably, as our capacity for measurement increased as a result of big data, analytics, and digital tracking, many marketers became justifiably obsessed with it. While this has been an incredible boost to the impact of overall marketing efforts, as we noted recently, the pendulum has perhaps swung too far in the direction of measurement, preventing new ideas and creativity from being part of a conversation dominated by key performance indicators (KPIs) and return on investment (ROI).
In addition, with all of our sophisticated tracking and analytic capabilities, there are still some marketing measurements that fall closer to the qualitative than quantitative end of the spectrum. Specifically, in my world, social media measurement is a delicate balance between shares, likes, and engagement, along with sentiment, conversation volume, and brand advocacy. Certainly there are KPIs for most of the metrics we aim to track, but for the ones that aren’t as clear, we have to be more thoughtful in our approach.
Essentially, we see two types of social content, and therefore two types of necessary metrics:
Here are three rules we use to help our clients with initiatives that are difficult to measure:
Follow the Scientific Method
You may remember learning the scientific method in high school -- a system developed to control the circumstances that scientists use to test and prove their hypotheses. Well, as marketing scientists, the method is quite useful for us as well. Specifically, the rule that we must conduct a fair test by only changing one factor at a time. In other words, if we want to incorporate Snapchat into our broader marketing program, one way to determine its impact would be to measure brand sentiment and conversation volume as a base metric and then introduce only Snapchat as a new variable. All else constant, we can then be reasonably certain that an improvement in conversation volume and sentiment can be attributed to our Snapchat program.
Embrace Creativity
There has to be room for creativity in our industry. While analytics help us to predict future performance, “You can’t measure what hasn’t happened yet” (SVP of Media, Christine Bensen). In other words, the next big thing isn’t something we can fully predict. Instead, it may come from a seemingly small consumer insight or idea that builds momentum. Making room for creative risk-taking is paramount, now more than ever. If an initiative doesn’t work, you learn from it and implement different tactics next time.
Don’t be afraid to try something that you believe to be right because you don’t exactly know how to measure it. Do one thing at a time and measure the success of your brand. In today’s world, smart marketers need to be comfortable with uncertainty.
Expect Results to Take Time
Similar to the idea of being comfortable with uncertainty, marketers need to familiarize themselves with selective patience. Yes, most of what we do will reap immediate feedback and performance, but for bigger, more creative ideas, it may take more time. It's fine to have a gap in measurement for a bit as momentum builds to a critical mass on a particular campaign, as long as you are prepared for it and are simultaneously conducting standard initiatives that are converting as expected.
At the end of the day, the best marketing mix is the combination of data and intuition. Do what’s right. Just because we can’t directly measure something doesn’t mean we shouldn’t be doing it. Remember, word of mouth, which is still quite difficult to measure, is also still one of the most powerful marketing tools.
How do you measure success for your social efforts and other qualitative initiatives?
To learn more about how iCrossing can help unleash the potential of your brand, contact us now!