Are there common miscalculations in predicting marketing outcomes? Unfortunately, the answer is yes. In this post, we’re examining commonly overlooked KPIs, signs you’re losing sight of your marketing goal and missed opportunities that marketers need to take heed of when working to predict a campaign’s results.
A marketing manager may be doing everything right in tracking all their tactics, but the campaign might still fail. Why? It’s easy to get down in the weeds and lose sight of the larger picture: aligning operations to the overall goal of the campaign and the business mission.
At Movéo, we ensure that before a campaign begins, we have a strong idea of what we want our end goal to be, and that our goal is measurable and timely. Once we have that goal outlined, we work backward to identify the metrics we need to measure to illustrate throughout the campaign how we’re progressing, and then develop supporting tactics. By working backwards, it’s easier to ensure that all tactics are aligned to your central goal.
If you fail to align your strategies and tactics with an overarching campaign goal, you end up losing focus. If you find yourself in this position in the middle of a campaign, work to reframe and refocus as quickly as you can.
Data and analytics provide invaluable information on how a campaign is performing. However, data is only effective when it’s used as a starting point for action. If you’re simply tracking the efficacy of operations without taking steps to constantly improve based on what you’re learning, you’re doing yourself a disservice.
Ensure that all of your analytics are actionable. Take heed of what your analytics are telling you, and work with your marketing team to stay agile so that you can optimize your campaign based on what the data tells you.
You don’t need pristine data sets to glean actionable insights; raw data can be just as useful in getting a sense of how effective your work is.
In order to avoid getting bogged down trying to refine data, make analytics as broadly useable as you can. If you need more information, don’t be afraid to look at past marketing efforts.
Let us know: what are some mistakes you’ve made when creating a data and analytics-centered marketing strategy?
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