A marketing resolution worth keeping
Repeat after me: "I will be a better marketer in 2013."
It's one thing to make a New Year's resolution - it's another thing to follow through on that resolution. If you're a marketing professional, keeping your New Year's resolution may be a matter of job security.
According to a Fournaise Group study, CEOs believe that their marketing team turned in an underwhelming performance in 2012. The top reason for this poor grade is the perceived inability of marketers to provide evidence that their efforts were returning results.
I wonder if this is a result of marketers failing to measure their campaigns, or if it's a result of failing to communicate that information in a meaningful way? Perhaps it's a combination of both.
One benefit of working at Klipfolio is I've been fortunate to work with some of the top marketers in the business (Learn more about our partnership program, if you're interested in the company we keep). They unanimously agree that "if you aren't measuring it, you're doing it wrong."
I'm actually sceptical that marketers aren't measuring their campaigns. Just in terms of web analytics, we have an almost unlimited amount of tools at our disposal, such as Google Analytics. I could be wrong, but you are monitoring your digital marketing KPIs, right? For my own sanity, let's assume you are.
Perhaps the problem is how you present that information to your CEOs. The modern CEO is the epitome of "tl;dr" - they want high-level summaries that provides relevant information quickly and simply. I can sympathize with this problem, since it takes some skill to package information in a way that is easily digested.
That's the other benefit of working at Klipfolio (and one I can more readily share with you) - I have access to a team of data visualization experts and a dashboard software for visualizing complex data sets.
In the hopes of helping you keep your New Year's resolution, I've put together 3 visualizations that will help your CEO see the value you add to the business.
Don't leave your boss hanging! Show them how much revenue you brought in and which campaigns were behind that increased revenue. The visualization below is a simple example of how you can use Bar/Line Charts to provide that information in a way that is easily digested. You should also be prepared to provide an ROI assessment for each campaign - the amount of time/money invested compared to the revenue returned.
The marketing funnel is the classic way to show how your audience flows through a given campaign. The example below shows how a funnel can put your web traffic in perspective; however, the funnel visualization is versatile enough to capture information for any type of marketing activity. CEOs love to see the numbers, so the key with the funnel is to expose those numbers, for better or worse. You may also find it useful to provide some comparative values, such as your performance metrics in the previous month, to enable your boss to easily see the big picture.
Your CEO craves the big picture, and the visualization below shows one way you can paint this picture for them. This example is taken from Klipfolio's and Stratigent's webinar Visualizing a Multi-Channel World. The key to this visualization is that it integrates multiple, disparate data sources and puts key data points in a chart to allow you to see your social reach, web visits, number of leads, and total bookings for each region. It also has the benefit of making the correlation between data points obvious, helping you to show how your team adds value to the business.
Return on Marketing Investment
The Return on Marketing Investment KPI measures how much revenue a marketing campaign is generating compared to the cost of running that campaign. Effective marketers are driven to connect their time, energy and advertising spend with results that contribute to company growth. This KPI answers the question, “are we recouping the time and money we spent developing and executing our marketing campaigns?”
If these 3 visualizations served to whet your appetite, you should check out our freshly updated list of the top marketing metrics and KPIs.