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Existing data is an intelligence asset for marketers. It houses, your past results and learnings from engaging with customers. It really is a great asset to have, and one that can always be utilized better.
When building a financial case, past analytics data, helps you to see how past spend went. If you haven’t really done this before, it can be useful to backtrack on a couple of initiatives. And outline;
- What you did.
- What you spent.
- How it performed.
Do this over several initiatives, just a simple one or two page document, or a couple of slides. This helps to give you some bands of performance, with other initiatives here’s the type of performance we drove.
That then, gives a baseline, if we are going to invest $X we should expect Y outcomes, based on past executions. And then you should note any nuances of the current case that you are proposing. Should it perform as well as past executions, or will it perform better, or is there some trade off being made. And identify that trade off.
That way you can present your case, off existing data.
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