Global Marketing Metrics: Measuring Success Across Borders

How do you measure success? It’s a concept that’s simple and yet deceptively hard to pin down. Defining the term in a business sense can provide an even bigger semantic challenge since it can have so many different meanings to different business owners. For some, it’s as simple as survival.

At InnoVision Global Marketing, our measurement of success goes beyond simply existing in the business world. It means genuinely thriving and demonstrating growth year after year. It means breaking beyond your original barriers and expanding into a global market.

While that rather lofty definition of success might sound out of reach for a small- or medium-sized business, it doesn’t have to be. With an effective advertising program measured through marketing analytics reporting, you’ll be astonished at the success you can achieve across borders.

Who Makes Up Your Market?

Have you stopped to consider if your business has a global appeal? If so, what are you waiting for? It’s time to get the ball rolling and create a marketing campaign to appeal to different target markets worldwide. If, on the other hand, you’ve never considered the possibility of taking your franchise global, you have to ask yourself the question: why not?

If you have a business that has achieved local success, chances are you’ve already pinpointed a need in the market. If that need exists in one location, why wouldn’t it exist in many other places worldwide?

Many needs are universal, whether they are for food, clothes, hygiene, entertainment, or any number of other things. Whatever product or service your business offers, odds are, there are people in other locations around the world who would be very interested.

The key to reaching these markets is to identify them first, and at InnoVision Global Marketing, that’s part of what we’ll help you do. By identifying key markets that you may never have considered before, we’ll begin the process of expanding your franchise worldwide.

Maintain a Cohesive Brand Identity

Taking a franchise global is a matter of being adaptable. While it’s likely that there will be interest in your product or service in various markets all around the globe, you won’t be able to advertise to all of these markets in the same way. People may have the same needs, but explaining how you will address those needs will be quite different, depending upon the local cultures, average incomes, habits, and interests.

While adapting your message is important, it’s also essential to maintain brand cohesiveness. That is to say, your brand should be recognizable, regardless of where in the world you are advertising. Think about the most famous brands in the world, such as McDonald’s, Coca-Cola, Nike, or Apple. They may not advertise to different markets in the same way, but you’ll always recognize the brand and the message, no matter where you are.

At InnoVision Global Marketing, we help you to solidify your brand identity so that your message remains consistent, no matter where in the world your customers are.

Gathering Marketing Data

After you’ve created an advertising plan that will help you to take your franchise worldwide, the next step is to begin tracking your marketing data. The purpose of doing so is to determine if the prospective customers in your targeted markets are responding to your advertisements in a meaningful way. That is to say, are you earning conversions by turning the viewers of your advertising campaign into paying customers?

The best way to answer that question is to track marketing analytics through reporting. That tracking is how you determine whether a marketing campaign is successful and how you’ll decide what, if anything, in your advertising program needs to change. For example, suppose the data reveals that customers are responding particularly well to one specific ad or set of ads. In that case, you’ll know that those ads are ones you can continue to use for that corner of the market going forward.

How To Track Information

There are several different types of information you can track as part of your marketing analytics reporting and several ways you can obtain this information. The first and most valuable of this information is first-party data, which is obtained directly from your customers.

First-party data is information you obtain when you track visitors to your website. Through cookies and other methods of viewing website traffic, you can see which ads are leading to clicks and being converted into sales. Customers may also offer this type of information voluntarily by filling out surveys and in other ways.

The next type of information you can gather is called second-party data. This is information that you can obtain from other organizations, including your competitors. Though it will differ depending on what business you’re in, odds are you have competitors that are attempting to corner the same market niches you are. Often, these competitors publicly share information you can use, such as sales reports and other valuable data. You can also obtain second-party data from organizations you partner with. This, in turn, can increase sales for both businesses.

The final type of information you can obtain is third-party data, which can be acquired from organizations specifically devoted to selling market information. While this can be useful, it’s not as valuable as marketing data obtained directly from customers.

Let Us Help You Create Your Ad Campaign

At InnoVision Global Marketing, we specialize in helping you take your business ventures to the next level. We do this by working closely with you to develop a message that will resonate with consumers in the global market. We’ll also help you track marketing data so that you can see where your business strategy is taking off.

If you’re interested in pursuing real, lasting, measurable success, contact us today. We’ll work closely with you to create an advertising campaign that can connect with customers, wherever they may be.