Seeing the Right Metrics is the Foundation for Making the Right Marketing Investments
When your boss (or if you’re the boss) has both eyes open when it comes to marketing metrics, he or she will be better prepared to understand what works and doesn’t work in your firm’s marketing program, what investments in marketing are needed, and where to make them.
But maybe even more important, if the boss can see, understand and act upon marketing data for purposes of growing the company—and your competitors can’t/don’t/won’t—you’ll have a significant competitive advantage.
In today’s digital environment, progress toward growth needs to be measured and tracked. Then, it’s possible to identify problem areas and to craft strategies and tactics for addressing those issues. In fact, in today’s digital environment, there’s hardly anything in the arena of marketing and sales that can’t be tracked, but the challenge is to select just a handful of the right key performance indices (KPIs) rather than have so much data that you end up suffering analysis paralysis.