Challenges to Optimizing Marketing Performance
Measuring the return on marketing investments has long been difficult. Now, however, digital tracking of customer behavior and tools to facilitate the analysis of marketing campaigns can enable organizations to correlate their marketing spend with customer responses and improve the department’s overall performance.
However, for many this process remains complex and challenging. Often they find it difficult to bring together all the relevant data they need to determine the return on their marketing investments and to enable effective collaborative decision-making to improve performance.
One factor contributing to this data management challenge is the variety of systems and metrics to be tracked. Among metrics, for example, brand health metrics can include measures of overall perception, awareness and performance of the company’s brand. They are generated using data about new customer acquisition and loyalty as well as about existing customers.