Wendy K Emerson
How does one intelligently analyze the success of their marketing programs? Here’s an interesting infographic from Marketo that breaks down some facts and figures about marketing you might find interesting. A few things that stood out to me were:
- 87% of senior marketers don’t feel they are confident in their ability to impact the sales forecast of their programs. This might suggest a deeper dive into some campaign and customer data to better understand it and use it for future campaigns.
- 20% of lead generation marketers do not employ any tracking in their marketing programs for measurement. Putting tracking in place and collecting the right campaign and prospect/customer data is not as scary as one might think.
- Confusion (Stage 3 in Marketing Accountability). “I know I should measure marketing results, but I just don’t know how.” That’s when engaging with a marketing analytics partner could come in really handy. They can make you look like the hero to your bosses with better analytics, and you won’t have to move to stage 4 – or self-promotion – the data will speak for itself.
- Vanity Metrics. They don’t always matter. It’s important to measure and report on the right metrics, not the ones you know will look good. If you measure correctly, you’ll unlock valuable insights that can be applied to future marketing. Sometimes a marketing campaign flop can turn into a great tool for future success. If you hide the bad data, and only report the pretty data, that won’t help you in the long run.
This is a great way to start off the new marketing year. Budgets are new, hopes are high. Consider these things as you plan your campaigns this year. Think about how you’ll measure and what you’ll do with those insights. If you are not sure, engage with a marketing partner who can help you unlock those valuable nuggets of marketing insights to get the best bang for your marketing dollars.
Adding new channels to the marketing mix (like social) can add a complexity to the marketing data that many companies are not equipped to handle. That does not mean those channels should be ignored. If you are running multichannel campaigns this year, and incorporate social media, be sure you fully understand which metrics will mean the most now to your future campaigns.
Click to Enlarge
