3 Tips for Building a Measurement Strategy
Today, consumers make an average of six to eight touches before they make a purchase. But do you know which one provokes action?
Most brands use a customer relationship management system like Salesforce or Microsoft Dynamics to track their prospects’ and customers’ moves; however, CRM systems were originally designed for sales teams and don’t necessarily provide the full picture for marketing and public relations.
In order to properly track the sales journey from start to finish, understand financial outcomes and connect communication to those outcomes, you’ll also need to incorporate an integrated PR software solution and marketing performance management system.
Not sure how to start? Here are three tips to help your brand set itself up for measurement success.
1. Merge All Data Sources
Data management is one of the most time-consuming tasks for communication professionals and marketers. In fact, Bluewolf found that mid- to enterprise-sized companies claimed the biggest barriers to Salesforce include “accessing different types of data” and “reconciling data from different sources.”
Save yourself headaches and wasted time by syncing all of your data in one place. By combining information from your marketing automation system, website analytics and CRM system, you’ll be able to more quickly and efficiently determine which campaigns and communication channels lead to the most conversions.
With so many ways to reach your audience, there is no guarantee that a prospect’s final touch is fully responsible for the sale. But single-touch models, as seen in out-of-the-box CRM systems, give full credit to the campaign that came before conversion.
With so many possible touches, brands must learn to use a multi-touch attribution model if they want to prove real results. By tracking and analyzing each touchpoint’s impact, your brand can more accurately identify which campaigns and channels need to be changed to lead customers more quickly down the funnel.
3. Determine Weight for Touches
As previously discussed, every touchpoint can affect a customer’s journey differently. But you can’t identify which mattered most to what type of customer if you don’t have goals for each campaign and channel.
Once you understand how your brand aims to nudge customers down the sales funnel, think about which weighting model will work best. If you’re new to multi-touch attribution, start with the even or linear model. These can help you make associations between multiple touchpoints and desired prospect actions.
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