Successful marketers routinely capture key performance indicators, or metrics, to assess marketing performance within the allocated budget. However, even in companies with a strong measurement culture, metric reporting often remains sporadic and short term and lacks a clear strategic focus. Two recent studies highlight this issue.
According to the September 2022 CMO Survey, senior marketers often monitor metrics like sales volume but are less likely to track complex metrics associated with brand and customer equity. Just 40% of companies actively track metrics linking marketing to revenue generation - often ad hoc.
These practices carry two significant risks. First, marketing's ability to execute depends on budgetary access. Few members of the C-suite will feel confident approving full budgetary requests without seeing evidence from comprehensive effectiveness analysis.
Identifying and prioritizing important metrics to visualize in a dynamic dashboard is therefore a necessary undertaking for marketing leaders. It's critical that leaders decide which metrics are optimal for their organization, yet even data-literate companies struggle with this issue.
[
Collection
]
[
|
...
]