Marketing professionals need to track and analyze the effectiveness of their marketing programs. Best practices align marketing activities, strategies, and metrics with business objectives. Creating a framework to track and measure marketing performance is critical in today’s marketplace. Marketing metrics focuses on measuring, managing, and analyzing performance to maximize effectiveness and optimize marketing ROI. Three elements play a critical role in managing marketing performance; data, analytics, and metrics.
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There is a general consensus that marketing is both an art and a science. With the increased importance of technology in today’s marketing environment, it’s clear that the pendulum has swung to the science side of the equation. Technology, analytics, and measurement are at the forefront and, with the pace of change expected to quicken going forward, they’ll only increase in importance in coming years. A technology-enabled CMO will help companies prosper in this new world order of marketing.
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