Be a Marketing Hero Weekly Tip: Know What to Measure
Goals and Measurement of Success
When it comes to identifying success with an online campaign, most people simply look at the goals that they initially set out and consider whether they have achieved them. But achieving goals and, separately, achieving what we think of as measurement of success (or MoS) are not necessarily the same thing.
While you might have very specific goals for your B2B marketing campaigns (such as the total number of business leads generated by the campaign), the true measurement of success, (and the tools required to capture it) may in fact be different than just that absolute number you set out in advance as a marker of success.
One of the reasons for the difference between an ultimate goal and a measurement of success, is that other metrics offer a lot in terms of analysis and learning. While absolute numbers are used to provide a clear and easy way to communicate goals (like, say, “generate 100 business leads from x B2B marketing campaign”), additional metrics, such as lift, change, and incrementality, can provide you with better insight into your process (and help you to analyze that process) and ultimately help you to achieve and exceed your goals.
What to measure
So how should you broaden your scope? What do you need to measure with each campaign? The answer depends largely on what you think will be most valuable for you to analyze. In our recent post titled “Seven Essential Metrics to Present and Communicate Success,” we list the key metrics that you should consider when you analyze data and prepare reports. Check it out and let us know what you think!