Data is one of the most valuable assets that marketers and business owners need to take advantage of to improve their marketing campaigns over time. It is the data you collect from the campaigns you are running now that will help you to do better in the next campaigns. So, if you don’t collect the right data, your performance in the upcoming campaigns will be affected. 

In this article, we will take you through some of the metrics you need to measure while running campaigns. By the end of this article, you should know how to build the best marketing measurement framework to get the best results from your various Ad campaigns. 

Start with planning

Like any other marketing strategy, building your marketing measurement framework should start with planning. While planning, you must first categorize your measurements into input and output metrics. Output metrics are top-of-the-line measurements such as revenue or profits. 

On the other hand, input metrics are the numbers responsible for generating the output metrics. For, instance to generate more revenue, you will need more traffic and more orders. Tracking the output metrics only may not give you a clear picture of how to improve. So, take time to categorize all the metrics you intend to measure into output and input metrics. 

Have a tech stack in place

After determining the metrics you intend to measure and categorizing them into out and input, you now need to bring together tools that are required to accurately measure these metrics. These may include CRM and marketing automation tools. While choosing these tools, make sure they seamlessly integrate with the business applications you are already using to avoid the hustle of migrating the data between apps manually. 

Have a holistic approach to the customer life cycle 

You need to look at the entire customer life cycle as a whole. This requires your teams at different stages of the customer life cycle to effectively communicate and exchange data to avoid having fragmented data at the various stages of your customer’s life cycle. Without a holistic approach, you will likely have incomplete data and metrics you can’t rely on to improve future campaigns. 

What does the measurement framework look like?

Here is what your measurement framework should include

Components of your tech stack 

Messaging: Your tech stack should include advanced messaging tools that will help you to engage with your customers. Some of the core features that these tools should have include the following

• Funnel reports: These show a visual analysis of the customer’s journey from the time they firsts saw your campaign. 
• Retention reports: If you have campaigns that involve some retention activities, then the messaging tools you choose should be able to provide you with these details. 
• Report Builder: This feature will enable you to compare the results of different campaigns. 

Analytics: Your tech stack should include web analytics tools such as Google Analytics and behavior analytics programs such as Amplitude. 

There are also optional tools that you may need in your tech stack. These include location insights tools, data connectors, recommendation engines, and many more. 

What metrics to measure

Your measurement framework needs to clearly show the metrics to be measured for the various campaigns you intend to run. Some of the common metrics on this list could be the following; 

• Engagement: You need to know how much customers are interacting with your brand. 
• Customer value: This includes the marketing costs you incur to get each customer and the revenue each of them generates. 
• Retention: You also need to record the retention behavior of customers if your campaigns involve some retention activities. 

Results

Your marketing measurement framework should also indicate the results of using the tools in your tech stack to measure the metrics we have just listed above. The details in this section will help you make major decisions regarding how to run your future campaigns. 

Final thoughts 

Creating this framework might take some of your time and money, but it is a worthy investment if you consider what you’ll get in the long run. So, take time and create one for your subsequent campaigns; you will enjoy the fruits.