The Numbers
We start by looking for 5 levels of numbers – over time, we will fine-tune, revise and fill in some gaps.
• Outcomes – what does your business want its buyers or audience to do?
• Offers – the prices and/or specs you have given to a potential buyer. They now either buy or they don't.
• Prospects – the potential buyers you can reach personally – by name, by URL, or in some other way. You can target them personally with your marketing.
• Visits – the potential buyers who have made contact with you – maybe your website, maybe brick and mortar outlet, and so on.
• Impressions – the reach out to a much larger group whom you hope will become potential buyers.
Costs matter - part of the purpose of the Framework is to relate the success of your marketing to your financial return. So we add two financial numbers to the Framework (depending on your willingness to disclose).
• Investment dollars – what you spend on marketing and where you spend it.
• Revenue – return you receive for the products or services which the marketing addresses.
How do you choose what numbers for the framework?
The Framework can be very simple or very complicated. Choices are needed. You need to put in enough detail to learn the important lessons but not so much that you include trivial, almost accidental things, which have little if any impact.
You will need to consider..
• How complex your marketing is..
• How much money and time you can and want to spend in getting the numbers..
Where do the numbers come from?
Finding them can be challenging. But once you have them, their value becomes visible very quickly.
Marketing Numbers
• Digital marketing numbers for your marketing will often come from one of the Google platforms of which Google Analytics is most widely known, and Google Source Console is widely used.
• The social media platforms such as Facebook, Instagram, LinkedIn and others typically have their own metrics which can be very informative about campaigns which include social media.
• For traditional media such as print, outdoor signage and broadcast, the host suppliers usually provide the numbers.
• For media organized directly by you, you may have to create numbers. Your methods will depend on the costs to you and the accuracy you wish. Example, if you want to track visitors to your facility, you may have to create a way of at least estimating them, or if you wish to track numbers and purposes on email or phone contacts, you can create the methods.
Your company Numbers
• Depending on the outcomes you want to track, you may need to supply some company data.