Marketers Need Metrics, Scratch That – Accurate Metrics
- AUTHOR Josh Rosenberg
- October 1, 2013
- No Comments
Last week I came across Gareth Goh’s analysis of a survey done by Adobe called Digital Stress Study: What Keeps Marketers Up At Night discussing how the thing that marketers worry about the most are the metrics on their campaign performance (whether it is the accuracy of the existing ones or if they actually have any metrics to begin with). The study goes on to say that understanding whether campaigns are working, proving the effectiveness of each campaign, and demonstrating marketing return on investment (MROI) were also critical things marketers were most concerned about.
To really build out a good marketing mix you have to be able to understand metrics like those because you need to know what is working and what you need to iterate on. However, to complicate matters many companies measure these in different ways. For example some companies consider marketing campaigns a success if they bring in a certain amount of new names, but some only consider campaigns a success if they can be directly tied to a won opportunity in a CRM system like salesforce.com.
Regardless of how you track and measure your campaigns none of these metrics will be worth anything if the underlying data is flawed and all the pretty dashboards you have set up are not showing the correct information. So yes marketers should be concerned about getting metrics on their campaign performance, because without tracking that there is no way to prove your campaigns are working and are contributing to revenue. I would take it one step further though and say that marketers need to be just as concerned with the underlying data of the metrics they are tracking as well as the metrics themselves.