Measurement of Marketing Tactics

The reason we conduct marketing research is to obtain data to make sound business decisions. I believe that marketers should view the measurement costs as an investment and make a commitment to funding the research study appropriately. To maximize your research spend, prioritize what’s most important. Don’t spend on collecting information that you may already have from internal research sources. Evaluate only the key variables that will quantify the success of your efforts. It’s also possible to design the research to measure the strategy, rather than each individual tactic. This sort of data can be relevant for several years and may be useful to other brands in your company, perhaps allowing you to split the cost. I find that the value of the data usually outweighs the cost. So, reinforcing the value may help you to secure the funds.