Lecture Logic: Measuring Marketing Communications Effectiveness

By Erica Wenham, Thursday 28 February 2013.

Modern Marketing Information & Analysis (Week 20)

While the business and marketing environment is constantly changing, it is still essential that marketers focus on ways to ferret out waste and inefficiency in operations – both to minimize the impact on corporate bottom lines, but also to remain flexible for the new channels and investments that are sure to pop up in the future. As a result, it is fundamental to measure and keep track of everything – campaign effectiveness, brand investments, even the internal operations of the marketing function. But a marketing organization is a complex organism, and can be measured in an infinite number of ways;

Measure adherence to the brand promise. Large organizations face inherent difficulties in consistently delivering on ambitious brand promises. “The Executive Board” explains that any brand promises that are made public must be met. If not, this can result in negative brand image and potential failure for an organisation.

Measure marketing’s contribution to firm financial performance. This one can be difficult to figure out – it’s hard to determine, with any sort of certainty, which marketing activities have led to which performance benchmarks at the corporate level.

Measure marketing’s contribution to firm goals. This explains a key insight into what Marketing should prioritize when it comes to effectiveness measurement. Given the somewhat ambiguous nature of marketing, it’s key that senior folks buy in – and most often, getting buy-in is contingent upon answering the question “What have you done for me lately?”

Measuring marketing communications effectiveness (and in relation other types of marketing such as PR and advertising) is due to be explained into further depth next week.