It seems that more and more people are wearing bracelets, armbands, clips and now watches for the purpose of making sure each step taken or stair climbed is measured to help improve overall wellness. According to Pew Internet Research, who conducted the first U.S. survey on self-tracking, seven in 10 adults say they track at least one health indicator, with 60 percent tracking weight, diet or exercise and 33 percent tracking health symptoms such as blood pressure, blood sugar, headaches, sleep patterns, and so on.
Not only are consumers becoming increasingly fanatical about monitoring their health in order to become more self-aware, a majority of Americans want to monitor their health with connected health devices (56 percent) that automatically send information to their doctor or other people they choose, according to a recent Connected Health Study by A&D Medical.
As marketers, should we be just as obsessed with monitoring the health of our advertising campaigns? Technology has provided tools that give us the capability to monitor marketing as never before. But, do we have the passion to track each channel and, if we do, are we really using that information to improve performance or just tracking it for measurement sake?
Emarketer’s article on February 24, 2015, “Do Marketers Rely on Instinct Over ROI?,” states that marketers are still struggling with how to measure ROI and 33 percent of B2B and B2C marketing professionals didn’t know which channel made the biggest impact on revenues.
Our brand statement for The Point Group, “We don’t just build brands, we build businesses” demands that we not only develop creative campaigns that move the needle, but that we deliver on the business goals for the organization. We track, monitor and optimize campaigns assuring that all activities lead to delivering on the stated business goals. When we first meet with a client, we ask the following types of questions:
1. What is the average value of each customer?
2. What is the lifetime value of that customer?
3. What are the revenue goals for this marketing initiative?
4. How many more customers do you need to meet your revenue goals?
5. What percentage of calls, clicks convert to leads?
6. What is your current cost per lead?
One of our most successful campaigns of 2014 showed customer acquisition improvement of 22.1 percent year-over-year with the help of four media channels: TV, Radio, Digital Pay-per-Click and SEO. We monitored campaigns across these channels throughout the 12 months. Each month’s activity was charted, measured and shared with the client. Leads were tracked through incoming calls, emails and online forms. Acquisitions were monitored by the client who shared those numbers with us each month. Beyond the impressive performance, our cost of acquisition via media was lowered by 5 percent.