Struggle #3 My Strategy is Too Hard to Measure

50% of people say that their strategy is too hard to measure.

It’s not much of a strategy if that’s true.  It’s been interesting to watch PR pros in the last decade.  Social media insisted you be short and direct with messages.  (My blog articles are usually under 300 words for you.) You should also be short and direct when you ask, “What does success look like?”    Your strategy has a tangible outcome.  It’s not about trying, it’s about doing.  The outcomes are measurable but you might need to collaborate to demonstrate your valuable part in the success.  That’s where some of you get overwhelmed.  We can help. Continue reading

#1 Struggle: “People can’t find meaningful measurement.”

What does it mean?  One study found that the number one reason that people struggle with measurement is that they can’t get meaningful measurement.  Supposedly, it’s true for any industry, organization or endeavor.   It’s certainly true for people who invested in “canned” dashboards.

To get meaning from your measurement, you need a little help at the right time.  You know more than you think about what would be meaningful.

Here’s a few tips for getting to meaningful measurement.

  1. Involve a measurement expert from the start (not after the fact).
  2. Use data to set measurable goals for what success means to you.
  3. Measure before, during and after an effort.
  4. Conclude with answering these questions…
    • Did I reach my goal?
    • What happened and why?
    • What does it mean?
    • What will I do about it?

Keep it simple, but get the help of a measurement partner to make it easy and meaningful.

Measure well!  No excuses.

Debi Parcheta

dparcheta@blue-marble.com

 

Image Courtesy of Creative Commons Flickr, Author:  chetbox

Comment below: What does this heat map view of a face mean?  People struggle with measurement because they need meaning.

Why Struggling Brands Need to Measure Most

Are you struggling to improve media relations for a declining brand?

Failing brands need media measurement most of all.  Measuring can determine if a brand has forgotten its values.  Or we could measure to see if a brand is overestimating its own importance.  Some brands are guilty of branching out too far and measurement can tell you if people view your brand as being in the wrong category or if they think a brand is behaving deceptively.  Fatigue can be readily measured when a brand fails to be creative or innovative.

For many brands, failure coincides with not measuring at all – you weren’t watching what was happening.   Brands must stay relevant.  They need to measure consumer patterns, competitor positions, market evolution, and cultural trends.

This sort of measurement doesn’t need to be complicated.  Look around periodically.  Train yourself to use data to develop insights to lift your struggling brand up again.

Happy to help.

Let’s talk about being insightful.
Debi Parcheta, BlueVision® Media Measurement
dparcheta@blue-marble.com

 

Integration is the data “hack” of the decade.

We’ve reached an age where data is everywhere!   BUT… really useful, accurate and appropriate analytics are still a long way from being at the right people’s fingertips. It’s not a slick dashboard that gets you there. You have to do better than that.

The “hack”?  It’s simply gathering data from different sources into one model or system (referred to as integrating data) and inferring or deducing new knowledge or competitive advantage from the soup that they become when you throw them together into one pot.   Computer programming and mathematical training and the tools, experience and knowledge that you already have can be used in very creative ways to integrate data, many times more quickly than you think.

What are the things that keep us from hacking analytics in every industry?
•    Territorialism:  People don’t share data well.  Collaboration is what sets our species apart from others, but we still don’t fully embrace it.  Try to think more like a barterer.
•    Money: Data collection and analysis is an ongoing investment, not a whim. Do a cost/benefit exercise – most analytics are worth the price tag but there should be a return on your investment.
•    Time (commitment): Most analytics need to be ongoing – showing change over time.  You’ve failed if you start but don’t continue to analyze for actionable insights or build on your initial findings.
•    Vision:  It’s one thing to look at analytics.  It’s another to imagine how the results move your mission into the future.  Be a thinker.

None of those roadblocks are new.  In fact, they are age-old people problems.  We stand in our own way a lot.

 

Photo thanks:

Flickr Creative Commons, Jess (Paleo Grubs):  http://paleogrubs.com/vegetable-soup-recipe

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New MASB Book Links Marketing Actions to Financial Performance

Screen Shot 2016-04-13 at 1.09.37 PMBlue Marble is proud to announce the publication of the Marketing Accountability Standards Board’s book, Accountable Marketing: Linking Marketing Actions to Financial Performance (Routledge 2016), including the chapter our CEO, Debra Parcheta, co-authored: Chapter 7, Customer Lifetime Value in the Packaged Goods Industry.

This book sets the stage for new working relations between Finance and Marketing and relates how fundamental change was initiated in the business community through collaboration across industry lines.

Chapter 7 shows how it is possible to use sound mathematics to predict the future equity of a brand and to understand how marketing tactics are actually helping or hurting a brand’s future expected NPV.  Marketers have long been looking for predictive analytics to help guide marketing investments that cause brand growth.  The time has come to start using forward-looking analytics in addition to backward-looking mix models.

MASB is the independent, cross-industry forum that sets the measurement and accountability standards that visionary leaders in Finance and Marketing rely on to guide investment decisions for enterprise value.

http://www.amazon.com/Accountable-Marketing-marketing-financial-performance/dp/0765647079