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His blank expression revealed the lack of knowledge he possessed with the topic at hand. We were discussing how my agency, Hüify, was going to create content for his company by assisting in their content creation needs as an extension of their marketing team. Even though he was a very experienced marketer (he even owned a previous agency and held a leadership role at his current one), he had a very difficult time formulating a S.M.A.R.T. goal. Many of us experience this same difficulty when creating marketing goals. Although devising such specified goals may take more of an initial effort to create, they are essential for reporting the return on investment and also for identifying ways to expand future efforts. The main indicator of success for a company’s marketing (online and offline) should be consistent with their SMART goal, without it a company cannot hold any of their marketing efforts truly accountable.
The novelty of social media still has not worn off. This enticement of digital fame captures the attention of individuals and businesses alike. Where a balanced measurement on the returns should exist, the lust of vanity metrics begins to creep in and influence the monthly marketing reports. Of course traffic and the total reach should be analyzed, but everything should always go back to one SMART goal, also commonly known as a Key Performance Indicator (KPI).
Once a goal is created the plan is then established. Just like a war council decides the most effective way to increase their foothold on the local lands, marketers must also plan how they will effectively gain a larger market share. The "blind archer" approach of flinging out campaigns, contests, and promotions as a way of spiking analytics to show results has become obsolete. A/B testing of platform performance must been observed, analyzed, and then acted upon. To firmly gain a foothold on the market, "post-conquering" or post-outreach measures must be taken. This is where actual reporting and analytics devoid of useless vanity metrics will come into play.
The only way we can plan for the future is by drawing from the past, so after we identify which strategies and platforms have generated success, we can somewhat eliminate the platforms that failed to reach the target communities. For optimal returns, efforts need to be reallocated toward the highest trafficked and/or engaged platforms. This will involve some lost battles, but will ultimately win the war.
Effectively measuring returns is dependent on a Content Distribution Protocol (CDP). With an undefined process, hours quickly get overlooked and efforts soon get lost in the confusion. If a systematic approach can be created, i.e. by tracking each link, analyzing the return traffic, and reporting on the findings, then your CDP can function like a well oiled machine. This enables a brand to maximize the usage of their marketing budgets by focusing on the areas of highest return, rather than sacrificing precious hours on the altar of "reach."
Instead of trying to go after some secret KPI formula or made-up metrics, start building your own CDP around your company’s goal. Start by developing a SMART goal that will help you track and determine the effectiveness of your current marketing campaigns, and if possible, your previous ones as well. Follow up this step by initiating a CDP that will help you measure in a consistent manner. Just like a commander measures their efforts on the battlefield we must always be ready to adapt according to our findings.
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Why is this concept so difficult to understand? What are some of the barriers of entry that you can think of? Please tell me in the comments below! I'd like to hear your thoughts.
