Clients are frustrated when their impressions, page views, the number of unique visitors, email opens vs. industry standard, likes, shares and time spent on any landing page aren’t generating revenue. Same is true for those with large email lists that aren’t leading to new sales. Not all marketing metrics are strategic.
What might look like a marketing problem is, in fact, a perspective problem. In our data-obsessed marketing culture, the measurement mindset leads to marketing spend and success metrics that lose sight of the longer strategic initiatives. Aligning metrics to strategy requires a fundamental shift in what and who you care about.
Marketing metrics aren’t adding up to revenue
It’s not a marketing problem, it’s is a perspective problem. A demand generation program, you would establish strategic marketing goals based on a sales funnel. Need to improve the customer experience, you would set the marketing goals on the loyalty, retention or referrals.
In our data-obsessed marketing culture, the measurement mindset leads to marketing spend and success metrics that lose sight of the longer strategic initiatives. To align metrics to strategy requires a fundamental shift in what and who you care about.
Ask customer-centric questions:
- Is what your customers say about you similar to what industry analysts say?
- Are your customers buying your product but never actually using it? Or, using it differently?
- How are the customers interacting with your brand story?
- What types of interaction are leading to the most referrals?
- Do you know what is happening in the lives of your users before they even know they need you?
There are driving questions that direct your attention, money and marketing. Driving questions fall under two mindsets: Marketing Driven Approach and Strategic Thinking Mindset. The chart below helps you understand how the questions and metrics tell you which mindset you are in.
Note: If you are looking for more questions, check out this article on Discovery Questions.
A longer-term perspective that focuses on the customer experience allows brands to think broadly about success. And, make progress towards strategic marketing goals that measure relevance to customers’ lives.