With so many channels in today’s marketing campaigns, it’s easy to find yourself stuffed with too many numbers, too much feedback, and too many ever-changing variables to accurately analyze all the data coming in. In a market like this, knowing how to gather and organize the data of multiple channels is key to measuring an overall ROI. Fortunately, there are methods and tools available to better assist you in measuring the details of these channels, so that finding the ROI is a walk in the park.
Before jumping into how one would tease apart all the different channels that supply a company with feedback, it is important to remember that multichannel marketing is a representation of an integrated environment. The marketer’s focus should still be on their initiative’s ROI as a whole, while measuring results from each of the channels and making decisions accordingly. One of the ways we can measure these channels effectively as a whole is through tools. Most commonly, web analytics, email software analytics, leads from online contact forms, social media monitoring, and call tracking are all used in tracking and assessing these initiatives. Social media monitoring being the newest of these, it requires the most attention as it tracks a completely new channel. Still, without call tracking, the information brought in by traditional means is lost. An important aspect of measuring multiple channels is knowing that one tool is not necessarily better than another, but rather each gathers different (and still applicable) information that contributes to a whole, the overall ROI.
In addition to these tools, a successful multichannel marketing campaign needs to be pressed forward by new technologies. For instance, click searches are now being replaced by voice searches using iPhone’s Siri and Samsung Galaxy’s S Voice. If you are still only measuring click searches, who knows how much valuable data you are missing out on for mobile searches. This is something that can skew your data in the long run.
Finally, the number one trick to finding ROI in multichannel marketing is emphasizing the need for accuracy when measuring across all channels. No matter what is happening in the world, Pharma marketers need to be on top of finding the most accurate and more reliable methods for evaluating ROI in both online and offline markets.
However, gathering all of these disparate methods and presenting these in a persuasive way to senior management is still troubling brand managers and eMarketing professionals globally. Indeed, with the ever growing marketing channels available to, and being embraced by pharma – the challenge is actually becoming more complex. Be sure to review the updated 6th Digital Pharma East agenda, to find out how to deliver a coherent message to senior management on the ROI for MCM and to understand from very senior professionals exactly what they need.