Data-Driven Marketing – The 15 Metrics Everyone in Marketing Should Know by Mark Jeffery
This book claims that most companies don’t make data driven decisions. It also argues that most companies don’t measure their marketing efforts. Based on my more than 20 years of experience in working with hundreds of companies (large and small) – I agree with Jeffery’s statements.
With a little planning, there are easy ways to measure Return on Marketing Investment (ROMI). If you are a small business, you don’t have to get fancy. Identify a “few” metrics and analyze them to determine your marketing’s effectiveness. Jeffery encourages us that Microsoft Excel, in most cases, will be a sufficient tool for analyzing ROMI.
He suggests that you:
- Start small – don’t try to measure everything.
- Start now — don’t wait for a perfect world regarding all possible data points.
- Focus — on the right data. Using Pareto’s Principle, or the 80/20 rule, identify the 20% of data that will give you the most bang for your buck.
Data-Driven Marketing gives a good overview of types of measurement to consider, and it gives real business examples that you can apply to your organization. Along with the purchase of the book, Jeffery also grants access to templates and spreadsheets on his website.
Watch out! If you read this book you will be motivated to plan, measure, and analyze your results.
I enjoyed this book. Once you’ve read it — give me a call. We can grab a cup of coffee and discuss some of the case studies and how to apply them to your business.
How are you measuring your marketing efforts?
Tagged with: Marketing Tactics
Filed under: Book Reviews
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