In a recent post on Avinash Kaushik’s wonderfully titled blog— Occam’s Razor— he puts forth a digital marketing and measurement model that is worth visiting for anyone involved in B2B digital marketing. He begins the post by positing the difference between winners and losers in web analytics: “Winners, well before they think data or tool, have a well structured Digital Marketing & Measurement Model. Losers don't.”
To facilitate the thinking needed to move along these lines, Kaushik has developed a Digital Marketing and Measurement Model as a simple, five step process:
one forces the identification of business objectives upfront
and sets the broadest parameters for the work being undertaken. Senior
executives play a key role in this step.
two identifies crisp goals for each business objective.
Executives lead the discussion, but all participants play a contributing role.
three is to write down the key performance indicators (KPI).
Marketers lead the work in this step, ideally in partnership with a “data
four sets the parameters for success upfront by identifying
targets for each KPI. Organization leaders play a key role here, with input
from Marketing and Finance.
- Step five identifies the segments of people / behavior / outcomes that are analyzed to understand why one has succeeded or failed.
According to Kaushik, a complete and competent Digital Marketing and Measurement Model focuses on three key areas of scope— acquisition, behavior, and outcomes. He lists an array of relevant questions regarding each of these areas, and then goes on in detail to describe how to take the five steps summarized above.
The steps themselves may seem simple, but Kaushik notes that “soft” work is always harder than one thinks. But doing proper diligence, the reward is significant: a structure that will guide measurement efforts.
What does this provide?
According to Kaushik, “the insights you derive will be of value because they are grounded in what’s important to the business and the leadership. And when you make recommendations based on data… guess what… action will be taken.”
For business-to-business marketers who have waited endlessly for that to happen in the molasses of many corporate environments, that prospect alone should be motivation to read this valuable post from the noted entrepreneur, author and public speaker.
We suspect that even William of Ockham would approve.