Everyday digital marketing managers stake their reputations on digital marketing campaigns and activities. Yet many organisations are failing when it comes to measuring and analysing their campaigns in order to gauge their effectiveness. We need to measure our paid campaigns in order to learn the effectiveness of our marketing initiatives, see how consumers interact with our brand, allow for more targeted campaigns with measurable results and ultimately quantify ROI on our marketing spend. In order to effectively measure paid media campaigns we need to use multiple variables including Metrics – performance indicators, Resources and Budget. Measurement tools such as analytical software can be used to aid this process and it can be agreed that without the use of integrated analytical software or tools, digital media campaigns can be analyse but there are still a myriad of metrics to aid the. measurement of paid channels.
Digital really is the most measurable medium and there are no end to the amount of metrics that can be used to analyse a digital campaign from CTR, pageviews, site visits, the list goes on, so much that for some there can become a fear of paralysis by analysis. Many marketers find metrics confusing. But the bad news for them is, that they haven’t seen anything yet! The more data we collect, the clearer we will be able to see. The real challenge lies in selecting and interpreting data. Metrics without insight are meaningless.
As digital marketers it is our job to determine what must be measured – our Key Performance Indicators (KPI) – and what can be ignored and then connect the dots from the metrics at hand. The importance of measurement cannot be underestimated. Organisations that lead in analytics outperform those that are just beginning to adopt to analytics threefold. (source) So is clear that measuring paid media campaigns is vital to the ultimate success of an organisation and that organisations must not only collect, interpret and act upon the data collected, but they must develop a framework for measuring the contribution of paid campaign investment to the organisation as a whole in addition to ROI.