May 2021 Newsletter

Measuring Return on Advertising Investment

**** The 4specs Perspective

Marketing and advertising people in the "specified construction product" arena recognize that the results of their marketing and sales efforts may not be realized for 2-3 years or more. Tracking the results from individual actions and decisions is very difficult and may be hidden by larger scale events such as changes in code requirements, competitive products and recessions.

Newer marketing people coming from the Internet marketing arena expect to measure short-term return on investment in advertising. It is reasonable to evaluate spending on a Google AdWords campaign where your products are purchased the same day or even the same week. You can measure your sales from those clicks verses the cost of the advertising. Some of the tracking systems permit tracking across multiple websites, multiple computers and even your smart phone.

Think about a classic Internet click tracking to a sale:

When advertising a specified construction product, it is difficult to track a sale to a specific click or email. The final sale may be 3 or 4 years away to an existing distributor who is 5 states away. It is virtually impossible to track a click to a specific specifier or firm much less a specific project and a specific sale 3 years in the future. Here is a typical specified product process:.

We addressed this in an earlier newsletter - Idealized "Getting Specified" Process - October 2016

Questions, comments and suggestions are always appreciated.



Colin Gilboy
Publisher - 4specs
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