Comments on: Compared to what? http://www.lynneharrold.com/2008/10/22/compared-to-what/ A blog about marketing, analytics and strategy Wed, 08 Sep 2010 22:21:21 +0000 http://wordpress.org/?v=2.6 By: Metrics that Matter http://www.lynneharrold.com/2008/10/22/compared-to-what/#comment-29 Metrics that Matter Wed, 29 Oct 2008 14:16:11 +0000 http://www.lynneharrold.com/?p=101#comment-29 [...] you can compare your metrics with?  Checkout  Lynne Harrold’s recent post some ideas for selecting the right benchmark. She references a variety of places to find relevant numbers for comparison including the Direct [...] [...] you can compare your metrics with?  Checkout  Lynne Harrold’s recent post some ideas for selecting the right benchmark. She references a variety of places to find relevant numbers for comparison including the Direct [...]

]]> By: FM Days http://www.lynneharrold.com/2008/10/22/compared-to-what/#comment-28 FM Days Wed, 29 Oct 2008 14:13:28 +0000 http://www.lynneharrold.com/?p=101#comment-28 Nice post. With all the free/low cost industry benchmarks, it is surprising people still get tangled up with meaningless metrics. Nice post.

With all the free/low cost industry benchmarks, it is surprising people still get tangled up with meaningless metrics.

]]> By: admin http://www.lynneharrold.com/2008/10/22/compared-to-what/#comment-24 admin Tue, 28 Oct 2008 01:20:58 +0000 http://www.lynneharrold.com/?p=101#comment-24 Craig, the DMA does provide response rates by industry, target and offer; however, the analysis is never as granular as you would want. At least, it is never as detailed as I would like! You also raise an important issue. The quality and impact of creative is hard to quantify and not usually defined or discussed by sources of standard benchmark rates. Yet, the marketing materials are an important factor in the success or failure of a campaign. This is one of the challenges you face when performing a meta analysis of campaigns. I have thought about this from a linear model perspective and am intrigued by your suggestion of a Bayesian analysis. Craig, the DMA does provide response rates by industry, target and offer; however, the analysis is never as granular as you would want. At least, it is never as detailed as I would like!

You also raise an important issue. The quality and impact of creative is hard to quantify and not usually defined or discussed by sources of standard benchmark rates. Yet, the marketing materials are an important factor in the success or failure of a campaign. This is one of the challenges you face when performing a meta analysis of campaigns. I have thought about this from a linear model perspective and am intrigued by your suggestion of a Bayesian analysis.

]]> By: Craig Alexander http://www.lynneharrold.com/2008/10/22/compared-to-what/#comment-21 Craig Alexander Fri, 24 Oct 2008 11:34:42 +0000 http://www.lynneharrold.com/?p=101#comment-21 Do these sources publish a range of response rates for a given combination of industry/target/medium/offer? The quality - or otherwise - of the creative element can surely have a large impact? I've always thought that provider and/or analytic companies should maintain databases of response rates from their own analyses. For an analytic company these might then be used to form priors for a Bayesian analysis of marketing effectiveness? Do these sources publish a range of response rates for a given combination of industry/target/medium/offer? The quality - or otherwise - of the creative element can surely have a large impact? I’ve always thought that provider and/or analytic companies should maintain databases of response rates from their own analyses. For an analytic company these might then be used to form priors for a Bayesian analysis of marketing effectiveness?

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