Applying a Measurement Framework
Data can be correlated to tell nearly any story—and nearly any campaign can be reframed to sound like a “win.” This is why fully understanding how to give context to what they measure and report is critical for marketers and those using analytics. Establishing a measurement framework creates that accountability to what a true, shared vision of success looks like.
A measurement framework works by laddering up metrics to business or brand objectives. It is often used to help teams work together and speak the same language when communicating how to coordinate a complex set of marketing activities across multiple channels and platforms.
Figure 2.1 shows a sample using a simple framework that aligns metrics with KPIs with objectives.
Figure 2.1 Sample Scorecard Format.
Frameworks can be done at a big picture level, substituting sample metrics for unknown ecosystems, or at the specific investment level for channels or platforms. In either instance, they must be customized specific to what organizational success looks like. They also must ladder up and down to demonstrate support of key objectives.
Objectives are generally set by CMOs, directors, or managers who are responsible for the overall strategy and performance of marketing investments. These objectives should guide decision making for all investments and approaches.
Key Performance Indicators (KPIs) are often a collaboration between measurement teams and strategy. These are the cross-ecosystem indicators that summarize how marketing is doing relative to specific objectives and desired outcomes. The common language of KPIs enables diverse marketing ecosystems to work together to accomplish a shared objective and creates accountability in what metrics are used to tell that story.
Metrics are where channel and/or platform expertise is required and are most often directed by analytics teams. These critical data points inform performance shifts at the channel and platform level.
We’ll dive deeper into ROI and KPI frameworks in later chapter, but keep these terms in mind as you consider which metrics are most relevant for reporting.