John Wannamaker is considered by some to be a "pioneer in marketing” and opened department stores in the United States which eventually became part of Macy’s. He is credited with the famous saying “Half the money I spend on advertising is wasted; the trouble is I don't know which half”.
Many business owners (wrongly) think that this is still needs to be true in the 21st century because they have not put in place or using measurement systems to accurately tell them the return they are getting for their marketing and advertising (M&A) efforts and spend.
The pre-cursor to any measurement of marketing and advertising (M&A) effectiveness is to ensure that your marketing and advertising is ‘tagged’ and linked effectively to your measurement system(s), e.g. website and social media analytics.
This can be done in a variety of ways, example:
- with additional code associated with links
- by linking your marketing emails to your website analytics, thus enabling each to be an identifiable campaign
- by linking Google’s search console to your website analytics to enable the latter to provide better information your website’s prominence for specific organic search phrases