When Marketing Data isn’t Easily Accessible
Marketing is becoming more and more integrated. If you find that program data can’t be tracked electronically, it’s difficult to know how many times a customer has been exposed to your message.
Under these circumstances, you can make estimates on the basis of known audience habits (i.e. historic data) and publicly available resources such as third-party research, benchmarks and analysis.
By comparing metrics, you can distinguish fixed from variable marketing costs and isolate particular investments of a campaign or a departmental project from the overall business.
In order for your small businesses to become a more effective marketer, you must realize that you are no longer immune to the drive toward quantitative planning and evaluation within the business environment.
As a marketer you must quantify the value of products, customers, and distribution channels of various pricing and promotional scenarios. This forces also forces you to be directly tied to the financial ramifications of your decisions.
A stronger command and knowledge of marketing metrics will not necessarily make your job easier. However, such knowledge will help you do your job better.
Connect with Bryan on Twitter.
Did you enjoy this article? If so, subscribe to YFS Magazine and never miss an update. Don’t forget to make our friendship official and join Young, Fabulous & Self-Employed entrepreneurs on Facebook.
Photo: El Burgués
© YFS Magazine. All Rights Reserved. Copying prohibited. All material is protected by U.S. and international copyright laws. Unauthorized reproduction or distribution of this material is prohibited. Sharing of this material under Attribution-NonCommercial-NoDerivatives 4.0 International terms, listed here, is permitted.
In this article
