Before we begin to develop a campaign, it’s important to know where we are. Just as all GPS locators start with your current location, it’s critical to ask:
- What’s the environment?
- What’s the problem or opportunity?
- What does a win look like?
- How will we measure our impact?
Research and insights help us navigate to success by setting measurable objectives on the front end. On the back end, we use evaluation and measurement to clearly understand our return on investment.
Collaboration in the marketing mix model is critical to understanding how a campaign performs. Let’s say budgets are set, and advertising plans, creative concepts, publicity, crisis plans and all aspects of the campaign are moving. Just before “go live,” you decide to market-test the campaign television ads. You feel the ad is right, messaging is “spot-on” and you’re feeling good about the potential for sales, traffic or another metric you’ve set out to achieve.
Be sure to test all aspects of your campaign, including broadcast coverage, podcasts, social media and other content development, by the same standard of your TV ad market-test.
Even if you don’t have a true ROI that includes overhead costs, you have a spot on the grid for measurement. Plotting your tactics on this grid will demonstrate your investment coming to life. If you have established a measurement that everyone agrees on then stick with it, modify with new channels and establish a time frame to benchmark year-over-year results. Collaborative “true north” standards benefit everyone.
How do you judge the ROI on your projects? Tell us in the comments below, or tweet your responses using the hashtag #mcgblog.