In today's data-driven landscape, marketing leaders face the challenge of creating impactful campaigns and demonstrating a tangible return on investment for their efforts.
More often than not I see marketers focusing on soft metrics such as the impressions of one social post, ignoring hard metrics required to truly show their value.
Here are the top reasons why:
The marketer doesn’t review the data or understand it Stakeholders don’t know what they want or what to ask for. A marketing leader doesn’t WANT to share the hard metrics and wants to coast on impressions…sad, but I see this one most often
Now don’t get me wrong, in a start-up you are building, trying new things, and working with tight budgets. It can be hard to calculate some metrics or get a clear view, but generally, you can focus on a few key hard metrics that can show the value of your marketing strategy and tactics.
For marketers at larger organizations, there is no excuse! Ample amounts of data, technology, and resources exist to prove the value or failure of a strategy to your stakeholders.
A message for CEOs, CFOs, and CMOs Don’t be afraid to receive a bad metric. Encourage your team, if you haven’t already, to provide reasoning for the low numbers and a way forward that includes reviewing the strategy and tactics, optimizing what is working, and focusing on learning from the negative reports.
A few of my favorite hard metrics include Return on Investment (ROI), even better Marketing-Attributed Revenue, Customer Acquisition Cost (CAC), Marketing Qualified Leads (MQLs) and Sales Qualified Leads (SQLs), and conversion rates - just make sure it is the conversion of something meaningful.
For more information on hard metrics or to learn more about the marketing leadership services provided by Vella Handlos Consulting, schedule a meeting with us.
More often than not I see marketers focusing on soft metrics such as the impressions of one social post, ignoring hard metrics required to truly show their value.
Here are the top reasons why:
The marketer doesn’t review the data or understand it Stakeholders don’t know what they want or what to ask for. A marketing leader doesn’t WANT to share the hard metrics and wants to coast on impressions…sad, but I see this one most often
Now don’t get me wrong, in a start-up you are building, trying new things, and working with tight budgets. It can be hard to calculate some metrics or get a clear view, but generally, you can focus on a few key hard metrics that can show the value of your marketing strategy and tactics.
For marketers at larger organizations, there is no excuse! Ample amounts of data, technology, and resources exist to prove the value or failure of a strategy to your stakeholders.
A message for CEOs, CFOs, and CMOs Don’t be afraid to receive a bad metric. Encourage your team, if you haven’t already, to provide reasoning for the low numbers and a way forward that includes reviewing the strategy and tactics, optimizing what is working, and focusing on learning from the negative reports.
A few of my favorite hard metrics include Return on Investment (ROI), even better Marketing-Attributed Revenue, Customer Acquisition Cost (CAC), Marketing Qualified Leads (MQLs) and Sales Qualified Leads (SQLs), and conversion rates - just make sure it is the conversion of something meaningful.
For more information on hard metrics or to learn more about the marketing leadership services provided by Vella Handlos Consulting, schedule a meeting with us.
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