Nice – with a few Audible.com credits and a book on iPad begging for attention over several months – I indulged 😉
How to Measure Anything was a pleasure!
Though I learned enough not to attempt some of the measurement myself 🙂 , the possibility of useful measurement in business and approaches to discover these measurement options are fantastic! A few years ago I could not justify a rather successful project at work, thought eh anecdotal evidence was available. After a year or so I did see a solution in one of the marketing articles – oh, I wish I had this book earlier.
Some of the most interesting points:
- Thinking about measurement [something] starts from the elements of [something] that can be measured – the elements that makes sense. This definition is the most important step in measuring “immeasurable” – defining what the immeasurable is…
- Measurement is reduction of uncertainty, not necessarily elimination of it. Measurement is needed for better decision making rather than finding a perfect answer…
- The only reason not to measure is the prohibitive cost of measurement compared to impact of possible decisions the measurement can assist
- “Tagging” of what needs to be measured. Though it might be easy concept from the Web Analytics perspective – the concept is much broader (and more powerful) in business. Amazon wanted to know how many people purchase the books as a gift. The company offered free gift wrapping and was able to measure the percentage rather easily.
The author was behind the Clear Cola “disaster” – the interesting part is that he identified exactly what went wrong and how this type of situations could have been avoided. Paying more attention to recommendations of others would help to avoid premature launch of Clear Cola. The most interesting is that the company still made money of the product 🙂
The book has many marketing examples of understanding the customer and creating the product to solve the customer problem (such as drive-through food that is easy to eat in the car…).
Interesting example: customer service measurement encouraged more efforts from restaurant managers when all restaurants were organized into three categories with the middle category names “so-so.”
Social Marketing to the Business Customer happens to be better than I expected. Usually, social media books are leaning to much into explanation of social media tools (which become outdated soon after the book is published). This book, however, places social media marketing into its right position – as a part of general marketing task – a task that is inherently based on the business objective.