Each business activity needs measurable ROI, especially regarding online or offline marketing communication. The text and visual content you post as part of online marketing must be tested and measured to ensure its success. The marcomms effectiveness consists of the:
Check out a selection of LOOQME metrics to measure the effectiveness of marcomms.
The Share of Voice metric is user-friendly and easy to interpret as it can be calculated in digital and in % ratio and measured in total or separately for each communication channel. The Share of Voice shows how engaging brand activity is for the target audience in the context of the selected segment, competitors, or area over a certain period.
Potential Reach is another metric directly related to the audience. It demonstrates the breadth of communication reach. The metric can measure a single message and a particular channel/brand. The results of Potential Reach in the context of established marketing channels will be useful when planning investments in each channel and evaluating its profitability.
Sentiment metric helps to determine the tone of communications, understand the emotional response of the target audience and customers, and analyze and correct mistakes in marketing campaigns. Sentiment can be measured for particular activity and several activities over a certain period. The sentiment is significant when launching new marketing campaigns to understand the initial reaction. It can show whether you are moving in the right direction and following appropriate trends.
The above graph shows the sentiment dynamics of the fashion brand's marketing campaign in the launch. The level of negativity is quite high, which indicates the shortcomings and weaknesses to address.
The Media Visibility Index measures visibility in the media, and the number of mentions always represents it. Suppose we compare two marketing campaigns with the same percentage of main and positive/negative mentions but with different frequencies. Then, the MV will be higher for the activity where the number of mentions is higher. Hence, the Media Visibility Index name.
The Media Visibility Index can be used:
Brands and marketing activities with high visibility in the media attract more attention, affecting the long-term result.
It is especially true for projects with international investments and the social sector, where the Media Visibility Index can become a powerful argument in favor of your effectiveness.
Brand Trust is the foundation that helps you move forward and set the right pace for development. It affects the reputation, justifies the efforts invested in the brand’s health, and measures the success of marketing activities. This metric is responsible for long-term development and is easy to measure concerning the industry or competitors. R-Index works well for assessing the level of trust. This combined metric also includes the results of a sociological study.
To evaluate the effectiveness of marketing communications, it is convenient to divide them into two parts: trade (change in sales before and after the communication impact) and communication (change in the level of recognition of a product, brand, etc.). You can apply a system of metrics with which you plan to work for each of them. We recommend testing several models for the best results.