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STRATEGY > Measurements/ROI
Measure where you are before you move forward.
If you don’t measure, you can’t know how effective a program is. Begin with benchmarking to establish the “now.” Then add in simple measurements to track quantity and quality of events, degree of mail list obsolescence, attorney use of contact data base, etc. It doesn’t have to be complicated or expensive; just accurate, useful and continuous. Use web statistical packages to track and analyze the effectiveness of the web site in meeting your goals.
Calculate your ROI and use the results to defend budget expenditures.
The beginning of marketing measurement is the budget which ideally should contain all marketing expenditures in sufficient detail to be useful. Summarize quarterly along with data from tracking measurements.
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For Example - Cost-effective seminars
A firm wanted to measure the cost of seminars in terms of internal hours, out of pocket expenses and new business results. We put in a series of measurements ranging from program-specific time categories to attendee list analyses to evaluation forms. Result: a new seminar style and more pragmatic content.
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