What happens if you choose the wrong metrics?
Marketing Data Analytics comes in handy with lots of data insights and everyone in the team wears the throne of Gold Digger. Various analytical solutions thrive in the market, choosing them is not the science; choosing the right metric is.
- Is it so that the same analytical platform performs better for one entity but reaps zero results for the other?
- Do the CFO’s treat marketing efforts as mere expenditure oriented tasks?
- Is marketing treated as a money drain?
- Is the value marketing team creating?
The answer lies in the prominent belief of Marketing as merely a head under the umbrella but not the one holding it. Changing this perspective demands a treasure trove of data showing a rerouting of money back into the entity multiplied manyfold. That’s how the efforts can be counted, every other alternative is just a namesake option. No matter how the rain treats the umbrella, the holding hand should treat the umbrella the same way. When the responsibilities shift into confident hands, the umbrella works better. It’s not the fault of the rain.
A reason why marketing still stays on the back foot in most of the organisations is due to the wrong selection of metric. Yes, you need metrics to measure. But you need to decide what to measure and what not?
Nothing comes out of the wrong metrics, except wrong conclusions.
So, in case you consider giving the growth of an organisation a boost, try growing with the right metric. Short sighted metric are the short term goals and may disagree with far-sighted metric associated with the long-term success of your organisation. So, listen to the alarm, try to figure out the wrong metric and you will end up finding the right one. Establish a rerouting of money and efforts of the marketing team. Or, hit the snooze to send the growth into a deep slumber.