6 Tips to Improving Measurement for Non-Profits

Your mission. Be able to articulate how PR and marketing efforts support the organization’s mission. How do your daily activities help accomplish the mission, be it raising money or finding volunteers?

Stakeholders. Nonprofits have many stakeholders, including volunteers, donors, sponsors, employees, and the people they service. It’s essential to concentrate measure results involving each category of stakeholder.

Metrics. Select at least three specific metrics for analyzing various categories of communications including email, marketing, public relations and social media. Select metrics that are quantifiable, with a number such as an amount of money or percentage and that can be compared to another number such as past performance or competitors. It’s also vital to include date by when the goal will be achieved.

Leadership. Obtaining support for measurement from the organization’s leadership will make life easier both immediately and over the long term.

Current data. Surveying departments can reveal data and tools you already have. Nonprofits often have more data than they think they do.

So what? Asking “So what?” can provide context to data. So social media activity spiked one month and donations spiked the following month. So what? Determining why it spiked and learning how to repeat the performance makes measurement valuable.

5 Metrics Every Small Business Should Track and 5 They Should Not

IMAGE DISTRIBUTED FOR AMERICAN EXPRESS OPEN - The owner of Merz Apothecary in Chicago prepares for the increase of traffic expected on Small Business Saturday after a front window makeover thanks to designer Simon Doonan. (John Konstantaras / AP Images for American Express OPEN)

5 Metrics Every Small Business Should Track and 5 They Should Not, November 18, 2015

By: Germar E. Reed

There is a wealth of data that small businesses can and should be tracking in order to ensure that they are properly armed to make better business decisions.

But which metrics should you track?

All of them?

No!

If data isn’t actionable or useful, don’t waste your time. A KPI is a key performance indicator– the metrics by which you measure your success. It’s a good idea to decide on the metrics that you care most about and put them together in a dashboard to make tracking easier/quicker.

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Small Business and Advanced Analytics

Small Business and Advanced Analytics, October 29, 2015

By: Germar E. Reed

According to McKinsey research, by 2018 the United States will experience a shortage of 190,000 skilled data scientist and analyst. While most small business are not able to employ a full analytics team to manage the large amounts of data being collected during the day-to-day operation of their business, many have the ability to hire a consultant to complete specific tasks as needed. What tasks can a Data Analyst/Scientist assist you with? Read more

Shared Learning: 72% of Senior Marketers Consider Data to Be A Strategic Asset According to Research Live

72% of Senior Marketers Consider Data to Be A Strategic Asset According to Research Live

GLOBAL — 72% of senior marketers consider data to be a strategic asset, according to new research from the World Federation of Advertisers (WFA).

Despite this, more than half are ‘only just starting’ the process of giving it a central role in their marketing.

The study is based on responses from 32 companies with a global annual marketing spend of $35bn. It found that 31% of companies described themselves as advanced or highly advanced in the adoption of data-driven marketing (DDM).

However, 56% of respondents recognised that they were still early in the journey, describing themselves as in the initial planning stage and yet to deploy a DDM strategy. Read more

Marketing Metrics Made Simple

Marketing Metrics Made Simple, September 9, 2015

By: Germar E. Reed

Return on Investment (ROI)

Return on Investment (ROI) or Return on Marketing Investment (ROMI) equals the gain from a program minus the cost of the program, divided by the cost of the program.

ROI = (gain – cost) / cost

For example: Let’s assume that you started a new (incremental) advertising program, that it cost $50,000 in its first year, that it promoted $600,000 in incremental sales during the same year, and that the gross profit from these sales was $200,000. Read more

Why Analytics Matter

Why Analytics Matter, January 5, 2014 

By: Germar E. Reed

As we reach the midpoint of 2014, we are in the middle of a fundamental transformation in the way businesses view analytics. Analytics are now seen as core to a business’ growth strategy and means for measuring, implementing and sustaining success. I am extremely pleased to see this happen and that marketing analyst no longer have to fight for the value of analytics. The fact is, those who fail to invest in understanding what drives their business will find it hard to compete in a world that thrives on data. This is why analytics matters.

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