Getting Measurement Off to the Right Start with a Measurable Marketing Plan
A recent survey designed to assess the current adoption, sensitization and utilization of marketing solutions that encourage deeper interaction and communication with customers asked the following question: How are you increasing effective marketing? (Select top five)†
At first glance this may seem like a good question, the problem is we have the cart before the horse. †Increasing marketing efficiencies and effectiveness need to begin by insuring the marketing initiatives are linked to business outcomes and that these initiatives are based on measurable objectives. †This is why the marketing plan is so critical to the marketing performance management process. †It established at the outset the performance targets by which marketing effectiveness, value and efficiency will be measured.
Objectives such as improve the customer experience, generate advocacy, maximize key stakeholder relationships, optimize joint development opportunities, and increase awareness sound good but how will we know if theyíre achieved. †Do we just arbitrarily declare success? †That would be nice but as we say in these parts that dog wonít hunt. †To get your marketing accountability and measurement efforts off on the right foot, start by creating a measurable marketing plan. †Your marketing plan should outline the unique, meaningful strategies you are going to employ to achieve your objectives. †It serves as your roadmap for action, provides focus and should establish and clarify your priorities.†
Take a moment to stand back and evaluate your plan. †In addition to analyzing your situation, identifying your target customer group, what they want and need, defining your positioning strategy relevant to this group, the compelling reason why these customers should buy from you, and outlining your strategies and tactics to achieve the objectives and generate demand and loyalty, make sure your plan includes the following.
Are any of these missing? If so, do not pass go and do not collect the money. †Donít call ìit a wrapî until these three elements have been addressed. †By starting with a measurable marketing plan you will get your measurement efforts off to a good start.†