Swedish advertisers create industry standard for marketing effectiveness
“Effectiveness System” features 36 KPIs aimed at creating better solutions to measuring effectiveness
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The Association of Swedish Advertisers (Sveriges Annonsörer) recently launched the “Effectiveness System”, a new industry standard which aims to create better solutions to understanding and measuring effectiveness and demonstrate the connection between marketing and profitable growth.
The Effectiveness System was developed by the association’s Effectiveness working group and features 36 key performance indicators (KPIs) in six areas: media/investments, digital metrics, campaign metrics, brand metrics, financial metrics and relationship metrics. It includes definitions for each KPI, as well as guidelines and guidance on which KPIs companies should go for and how they should be measured and presented.
“This is a milestone and a solution to one of the industry’s truly largest challenges. This industry standard will make it much easier for marketers, management and partners to understand the effects of their marketing efforts as well as provide common goals to work towards. Most of all, it will contribute to strengthening the connection between marketing efforts and business value, which is critical to seeing marketing as an investment in profitable growth and not just as an expense,” said Hanna Riberdahl, CEO of the Association of Swedish Advertisers.
The new standard is in response to the large and ever-growing number of KPIs in use, which can lead to marketers losing focus on their campaign goals and confusing effectiveness with efficiency. It is partly based on Le Référentiel, a repository for marketing effectiveness measurement developed by Union des marques in France.
Intended for marketing departments, communication agencies and media companies, this is the first time the Swedish advertising industry can come together around a common set of guidelines for marketing effectiveness.
To gain access to the full documentation of the Effectiveness System and ensure that the standard is used correctly, one or more individuals within an organisation need to complete training and certification which offer deeper knowledge about the KPIs and governing parameters. Certification will open in September.
CLICK HERE to download the Effectiveness System guide in English.
For more information, contact Sveriges Annonsörer.