Measuring Marketing ROI With The Brand Builders

Challenge #1: Moving from “content” to “content marketing.”

Stakeholders and current (inherited) teams don’t understand the difference between content and content marketing.

Solution #1: “When you’re starting everything from scratch and need to tie things together in order to explain it to the management,” says Joshua Nathan, Head Of Marketing at iSwitch Energy

Solution #2: 

“It’s important to define the business objective first, as most of the legwork needs to start at the start,” says Joe Escobedo.

Joe suggests you ask yourself the following question before embarking on your content marketing journey:

  1. What is the objective you’re trying to achieve?
  2. Who is the audience you’re trying to reach?

“If you can’t answer those two questions, don’t start writing one single blog or social post,” advises Joe.

Solution #3:

Adrian Lee, Senior Director, Analyst at Gartner says, “It all comes back to the business model first. What are you selling? For example, you’re not selling electricity. You’re selling subscriptions. The first convo should always be about business models. That will then help you with answering the following:

How do you ensure:

  1. Switching/converting to you
  2. Renewals
  3. Incremental revenue

Challenge #2: All distribution channels are not created equal.

“Each distribution channel can’t be used the same way across the board,” says Aanchal Kumar.

“If you’re using the same metric, for example number of leads, for the different distribution channels then you’re missing the point. Each channel has its different use and audience, and until you understand what activity people are doing on that platform, you can’t assign a proper metric to it,” says Joe.

Measuring marketing ROI

Challenge #3: Got data?

Joshua and Aanchal in a conversation about CRM and the various tools…. Joshua then shared his challenge about joining the company at a point where it’s too late; the data isn’t captured properly because of systems and what not so he has no way of tracking useful metrics or understanding his audience, (at least based on historical CRM data.)

Solution #1:

Adrian says, “Don’t let the tools hinder you. They are here to free you. Not help you, but free you. Think about what you can do without thinking about the tools first.”

“Before you go hunting for vendors and tools, get your business model right first” he explains.

Challenge #4: Cash rules everything around me.

“On the topic of strategy for customer marketing/customer journey mapping: the biggest struggle is always with empathy,” says Adrian. On the topic of metrics: “big companies measure no less than 50 different customer metrics… at the end of the day, what is the CEO going to see? Dollar signs!”

Solution #1:

“Teach upwards. Marketers need to put in effort to educate our higher ups, in order to help them understand what we’re doing or what we want to do. One way is to ask “why”. This is especially so when most KPIs and objectives are set top-down,” agrees Rachel Fun.

It’s not just about measuring and ROI… it’s also about boosting the ego and managing expectations. “Our job as marketers is to make our CMO or CEO look good. Do that and you’re in a better position for getting raises, bonuses and promotions.”

As Adrian puts it, on what we need to do… “there’s always a beginning, middle and end. We often rush to the end (measuring, metrics, ROI) but we need to take a step back and get the initial, less sexy parts sorted first.”

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2018-12-14T08:47:27+00:00