Measurement

 

“Measure twice, cut once.”
Dutch Proverb

Always encouraged by Paul “Bud” Meuwissen
(1918 – 2003)

50-year member of Carpenter’s Local 1644
Master Carpenter – Wonderful Friend

Bud was so proud to have been a part of the construction team who built the
IDS Center in downtown Minneapolis in 1971.

 

The IDS center in downtown Minneapolis was built 46 years ago. Much has changed since then. Nevertheless Bud offered such good and timeless advice – applicable to any plan you may have.

Think of SMART goals –
Specific
Measurable
Attainable
Relevant
Timely

How often are you measuring your progress? It pays to measure more than once before making any significant changes that could end up costing you in the long run.

Think of how the digital explosion has changed your own industry. We now have a multitude of tools available to monitor our goals and progress. Things have become complex. There are so many metrics for different industries, different sales trends and different customer segments. What are the most appropriate tools for your organization?

Marketing is an investment and there should be a return for you. How is your marketing campaign impacting revenue?

Consider your organizational goals. Identify key metrics that are linked with your goals. There are a multitude of ways to measure results. Be sure to identify these beforehand so you don’t get sidetracked. You can’t use them all. Measurement should be occurring and be should monitored the entire year over multiple channels. This not only keeps your organization on track, but it also allows for adjustments along the way.

Marketing metrics to measure your efforts are important and there are many available out there. Collecting data will help you make smart decisions.

Plan, Measure and Review Before You Act.

Bud and his crew built a very special place in downtown Minneapolis. Bud was smart to follow an easy guideline. Look at the longevity of the IDS tower.

Clearly determine what you are trying to measure. Use your metrics to track your progress. You can review weekly, bi-weekly or monthly to assess your results through an updated and relevant dashboard. Again, watch for outliers that can skew results.

Look at both longitudinal and cross sectional data. This will allow you to have a better handle on what’s influencing your customer’s decisions and figure out what’s having the biggest impact on revenue.

Plan, measure and review before taking action. Measurement should be ongoing to help you make the best decisions – before you act. This will help your organization provide a meaningful customer experience for the long-run.

 

This publication, or any other corresponding promotional material(s), is in no way intended to be a comprehensive plan. Remember – all markets, circumstances, and results vary. Any strategic plan or marketing initiatives must follow all State and Federal laws and regulations, accordingly.
Please contact us directly for a complete assessment and plan for your individual organizational needs.

 

Martha Stutsman

Martha Stutsman

Martha Stutsman is founder of Stutsman & Associates, Strategic Planning and Marketing with 20 years of experience in cost-reduction marketing, brand revitalization and strategic planning. She specializes in start-ups, small and medium-sized businesses, organizations and not-for-profits. Martha grew up in a family-owned business in the Minneapolis area.
Martha Stutsman

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