Data are everywhere. Anyone with a smartphone is his or her own (not so private) data point. Technology—and an ever-growing need to track, measure and optimize ROIs—has fostered a corresponding need to analyze and understand data.
Database and direct marketing have always been driven by tracking, measurement, analytics and in some ways, ROI. Historically, the idea of "brand" has been given a relatively free pass when it comes to direct, measurable accountability. To explore the ways to bridge this divide and help establish some analytical approach to measuring the value of your brand, let's consider the concept of return on brand (ROB).
Measuring the impact of marketing campaigns has become both complicated and enhanced in a multichannel world. Traditional methods of looking at cause and effect relationships between a set of activities and a set of behaviors no longer give marketers a complete or accurate picture of events.