Marketers are frustrated. How do you shift the focus from campaign progress to measuring strategic marketing initiatives? Impressions, page views, the number of unique visitors are benchmarks. Same is true for an email list that isn’t leading to new sales. Ultimately, not all marketing metrics are created equal. As a result, marketers are getting caught in the crosshairs of intent.
In our data-obsessed marketing culture, the measurement mindset leads to success metrics that may lose sight of the strategic goals. So, strategic marketing metrics requires a shift in what and who you care about.
Measuring strategic marketing
It’s not a marketing problem, it’s is a perspective problem. Take, for example, a demand generation program. You might establish marketing goals based on your sales funnel. Likewise, to improve the customer experience, you would set marketing goals for loyalty or referrals.
In our marketing culture, the measurement mindset leads to metrics that lose sight of the big picture. To align metrics to strategy is a shift in what and who you care about.
Measuring strategic marketing with the right question:
- Is what your customers say about you similar to what industry analysts say?
- Are your customers buying your product but never actually using it?
- How are the customers interacting with your brand story?
- What combination of interaction is leading to the most referrals
There are driving questions that direct your attention and intent. Interesting, the driving questions fall under two frameworks: Marketing Driven Approach and Strategic Thinking Mindset. Changing the question can change what you measure. Below, you’ll find a chart on how the questions and metrics tell you which mindset you are in.
Market-driven driving questions
- More leads (sales funnel)
- Drive more traffic (brand/awareness)
- Better engagement (campaign metrics, sales enablement & revenue)
Strategic thinking driving questions
- What type of customer is most valuable? (customer lifetime value)
- Have you designed a user experience that supports a relationship? (conversion)
- Are your customers freely sharing what it is like to use your product and service? (loyalty, referral, and renewals)
Strategic marketing measurement is a daily battle. And, a longer-term perspective allows broader thinking about what success looks like. So, aim for towards strategic marketing goals that measure relevance to customers’ lives.