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Evaluation & Optimisation
Evaluation & Optimisation
Don’t just review results – act on insights!
Evaluation is one of Enigma’s most important functions. We want great results for our clients: but without evaluation, we won’t know if the campaign is working as it should; and without optimisation, we can’t deliver the best possible programs. Understanding performance allows us to optimise the campaign to meet the client’s objectives, gain insights into the market so we can plan better campaigns in the future and prove the ROI that will encourage further investment.
We believe that it is not only simpler but simply better to build-in evaluation at an early stage: if you bolt-on evaluation once the programme is under way, then the original business objectives often get lost and we can only focus on vanity metrics that don’t measure the underlying ROI.
During the planning phase of a project, we define the business objectives and KPIs (Key Performance Indicators) for the campaign and then set out the metrics we will use to measure these in a reporting framework. We also indicate the results we expect to achieve: by agreeing on what success looks like before launch, we can properly evaluate the campaign as it progresses.
Many clients don’t have their systems set up to fully identify all the marketing/sales touches involved in converting a lead. In most cases they have first/last touch attribution – or sometimes both - but the middle touches are often lost, making true attribution hard to achieve. The ideal situation is one in which all our clients have visibility of all touchpoints across their entire funnel and we frequently work with clients to help them achieve this.
People are often put off the topic of optimisation because it suggests that the campaign isn’t performing and that something is going wrong. We don’t believe this is the case: we want to make the most of the clients’ budgets and – even if the campaign is performing well – we will assess whether further improvements can be made.
We plan our optimisation framework at the same time as our evaluation framework, so we can ensure that we don’t just review the results but act on the insights as well. Our optimisation framework includes the frequency of each type of optimisation we will carry out (e.g. optimisation of tactics – weekly; review of accounts in an ABM programme – monthly/quarterly; review of strategy for always on programmes – quarterly).
Defining these at an early stage allows us to more efficiently activate and execute the campaign - and to focus optimisation efforts on meeting the KPIs and business objective(s) of the program.
We assess our work against the impact it has on the objectives it was created to achieve – and we report on anything that makes sense against those objectives. We can point to many examples where we have been able to prove pipeline and Return on Marketing Investment (ROMI) – sometimes as much as $2,500 for every $1 invested in marketing. However, there is no ‘silver bullet’ for evaluation – the ultimate metric is the one that is most appropriate for the campaign activity.
The criteria we use to measure campaigns therefore vary massively – not only by type of campaign, but also by client. For example, some clients evaluate ABM campaigns using MQLs (Marketing Qualified Leads) and others use MQAs (Marketing Qualified Accounts) - accounts meeting specific criteria such as number or types of leads, combined lead score, etc).
Some of our clients find reporting against pipeline can be hampered by an inability to get the right information out of clients’ MarTech systems or due to long buying cycles, first/last touch attribution or poor reporting infrastructures. In all of those cases, we will work with clients to resolve these issues and report as far down the funnel as we can.