FutureCast Brand: Measurement & Optimization

During the FutureCast Brand series, we’ve looked at the opportunity that brands have in front of them: truly understanding their core value, developing an End State of what they will become, completely understand their individual consumers (behaviors, passions, communication methods, etc.), then mapping out each touch point to marry the brand values with consumer passions, needs, and expectations. The goal is for our brands to become something bigger than a product or service provider and to actually become a catalyst to support and facilitate the lifestyles of our consumers. Over the past few months we have described, in detail, the process an organization must go through to develop the strategy and vision at this scale. Now, we have to make business sense out of all this. This is where, measurement and optimization come into play.

With such a dynamic strategy that covers an amazing amount of touchpoints and tactics, we need to understand the value of each and every action and the opportunities for growth, optimization, or abandonment of strategies to drive business results. However, the dynamicism of this nature will produce a combination of correlative and causal results with various activities, platforms, and content, so the measurement itself will be innately dynamic. Developing a scorecard or dashboard with real-time, daily, weekly, and monthly data and conversational aggregation will produce the best opportunities for success results, media integration, consumer engagement, and media spend. The results are a tremendous view of the marketplace, the causal and correlative reasons for success, and opportunities for extended activity to scale successes.

What to measure (topline topics):

Outbound Activity

  • Traditional media [TV, Radio, Print (frequency, reach, etc.)
  • Digital  / mobile (display media, PPC, SEM)
  • Social (outbound tweets, LinkedIn discussions, Facebook posts, etc.)
  • Direct (# sent)
  • Email (# sent)
  • Outdoor (run time, etc.)

Inbound Activity

  • Traditional (inbound calls)
  • Digital / Mobile (traffic)
  • Social (@mentions, Direct Messages, wall posts, comments, conversational mentions, etc.)
  • Email (# incoming)

Results

  • Traditional (impressions, call to action activity)
  • Digital / mobile (clicks, impressions, time on site, visitors, pageviews, etc.)
  • Social (engagements, impressions, shares, clicks to content, etc)
  • Direct (response rate)
  • Email (response rate, open rate, clicks)
  • Outdoor (impressions, call to action activity)

Conversions

  • Sales
  • Leads
  • Consideration
  • Awareness
  • Loyalty

With integrated consumer cartography, you have a map of activity, content, platforms, etc that allows you to develop highly sophisticated tracking mechanisms to show the path to conversion. With a dashboard above combined with the path to conversion, and most relevant content, we can manipulate the data to identify the causal or correlative relationships from activity to conversion.

The insights that are delivered from the dashboard will quickly show opportunities for enhancement and optimization on specific activities. This measurement platform quickly shows monetary and business value across the purchase path from unawareness to loyalty for the consumer. We can identify each touchpoint, piece of content, or activity as a driver for our success allowing us to optimize along the way for expanded growth and scale.

With our End State visualization, consumer map, and a tremendous amount of data, we now have the opportunity to grow and manage our FutureCast Brand. Next time, we will dive into the management of a FutureCast brand taking into account, internal resources, stakeholder management, agency integration and management, as well as the openness for the consumer and brand to grow.

 

Photo courtesy of Flickr – deege@fermentarium.com

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