In this day and age, most marketing professionals understand the value of analysis. They understand how constant measurement of activities can deliver fruitful results. Results being the operative word here. Because even though, they are analyzing and creating spreadsheets, most are looking at outputs, at vanity metrics when they should be focussing on outcomes that help achieve end goals. The problem is that they do not even realize this error.
Outputs can easily be explained as the initial results from any marketing campaign e.g. no. of likes, no. of subscribers, no. of page views- simply put- no. of engagements. While, tracking these is extremely important but they are by no means how one should measure the success of the entire campaign.
Success is better measured by outcomes such as sales generated, number of qualified leads delivered or even- how customers started perceiving the brand better because of a campaign. The last one isn’t necessarily quantifiable but it surely is an outcome when your marketing goal is to build brand awareness.
The fact is that measuring outcomes is not easy. You need algorithms and tracking in place that can link your initial outputs to your goals and hence, measure outcomes. This is best done when your marketing is empowered with technological solutions that enable automation and in which measurement can be customized.
One way to understand what to measure is to first understand your end goals. Lay them down. And then create your evaluation metrics based on these goals.
Even when outsourcing your campaigns to agencies, you should look at 2 main qualifiers:
The best bet is to look for a Marketing Automation As A Service provider who is focussed on Outcomes instead of Outputs- not just in semantics.