What stops you investing more in brand experience activity? That’s the question Jack Morton asked 300 Marketing Directors in a recent piece of research. The number one answer was lack of measurement (79%). Ahead interestingly of lack of budget (66%).
Measurement is a time old problem. You need measurement to justify investment, but often meaningful measurement is seen as difficult and expensive. So what do you do?
Personally, I would use the Net Promoter Score as my primary measure. Why? Well simply because it measures the multiplier effect – are the people who have had your experience going to spread the word further. It also of course correlates to brand growth.
What else would I do? I would get testing. Organising all types of pilot programmes to work out what works, what doesn’t and how I can do it better.
Brands need to spend more in this area as other channels become less effective. Lack of measurement really shouldn’t be the excuse for falling behind the competition.
Nice writing. You are on my RSS reader now so I can read more from you down the road.
Allen Taylor
Yes it’s true that marketers responding to our survey say that measurement is the #1 obstacle to successfully leveraging experiential strategies.
However, they didn’t say it would prevent them from going experiential. (In fact 75% planned to increase spend.)
The issue is not so much inability to measure but, I think, confusion about common metrics that can be applied across media to compare ROI.
One of the reasons we like NPS–just one of the metrics we use–is that it does have that apples to apples quality.
our blog (http://www.jackmorton.com/360)