Finally! The Definitive Guide To Marketing Metrics And Analytics Has Arrived

Group of thoughtful business people with eyeglasses reading documents in the office.
B&T Magazine
Edited by B&T Magazine
SHARE
THIS



Marketers who stick with John Wanamaker’s famous quote about half his marketing budget being wasted are in danger of being kicked to the kerb as the age of measurement and accountability take hold.

establishing credibility

CMOs are facing a crisis of credibility with less than a third of them being confident in their ability to accurately measure the business impact of their marketing activity. Mercifully, the good folk at Marketo have toiled away and come up with The Definitive Guide to Marketing Metrics and Analytics for your downloading pleasure.

At 88 pages, the guide leaves no stone unturned, no question unanswered, no professional opinion uncanvassed. This is a must read for anyone spending money in marketing and communications.

Among the more damning assessments of marketing by other executive functions, according to the guide, is “marketing exists solely to support sales, or that it is an arts and crafts function that throws parties, churns out Tweets and puts logos on pens. Either way, marketing often does not command the respect it deserves.”

As you will see in the guide’s pages, Gartner has found CMOs are now spending more money on analytics and measurements, nearly 10% of their budgets, than anything else, while the amount being spent is forecast to grow by 200% in the next three years.

The reason for the dramatic rise in spending is the twin forces of boardroom expectations and the actual importance marketing plays on overall business performance. What are the most important marketing metrics for my team to consider?

Metrics Matter

Among the pearls of wisdom contained within Marketo’s guide is answers to questions like:

  • How can I measure my various marketing programs’ impact on revenue and profit?
  • Which personnel, procedural, and cultural changes need to occur within my organisation so I can implement marketing measurement?
  • How can I best communicate marketing results with my executive team and board?

Metrics like brand awareness, click-through rates, impressions, organic search rankings, and reach are essential – but only to the extent that they quantifiably connect to hard metrics like pipeline, revenue, and profit.

Ironically, one of the most useful things a marketer can to do to build credibility with the CEO is to offer some thoughtful cuts to marketing programs. Show that you are “de-funding” things that either didn’t work, aren’t aligned with broader company goals or indeed are a lower priority than other initiatives.

This mindset will demonstrate a strong sense that you are managing a portfolio of investments and willing to make hard choices with company money, the guide suggests.

Forecasting 

Forecasting is perhaps the most critical thing marketers can do to change the perception that marketing is a cost centre.

In the same way that you can’t drive quickly if you rely only on your rearview mirror, you can’t be an effective marketer if you only report what has happened in the past. The best marketers forecast the results they expect in the future—and quantify their forecasts regarding leads, pipeline, and revenue.

It’s clear that marketers these days must be skillful at proving their worth and establishing the value of marketing within the very top echelons of their organisations. Make sure you’re not left behind and download your free copy of the 2019 Definitive Guide to Marketing Metrics and Analytics

 

Please login with linkedin to comment

Analytics marketing metrics Marketing Technology marketo

Latest News

Diversity Is Good For The Bottom Line, So Why Isn’t Anyone Listening?
  • Opinion

Diversity Is Good For The Bottom Line, So Why Isn’t Anyone Listening?

In this guest post, Garth Williamson (main photo), country manager ANZ at Shutterstock, says all the evidence is in for a more inclusive workplace, but asks why are so many still shunning the idea? The evidence is clear; inclusive marketing increases brand reach, consumer engagement and drives customer brand advocacy. And yet, few brands are […]

Opinion

by B&T Magazine

B&T Magazine
PHOTOGRAPH BY NIGEL WRIGHT. 
WRIGHTPHOTO1@MAC.COM

THE MASKED SINGER S3. EP5

THIS PICTURE SHOWS: EPISODE 5 REVEAL…MAHALIA BARNES















.
  • Media

Tuesday TV Wrap: Masked Singer Reveal Falls From Monday As Pavlova Is Uncovered

The Masked Singer’s big reveal saw a slight drop off in audience from its Monday night episode, netting an average of 654,000 viewers. That’s a decrease of 49,000 from the previous night where, as you are sure to remember, the dancing pinata was revealed to be Lote Tuqiri. Last night was the reveal of a […]

by B&T Magazine

B&T Magazine
Ray White Unveils New “Proudly” Campaign For Spring Selling Season
  • Campaigns

Ray White Unveils New “Proudly” Campaign For Spring Selling Season

Australasia’s largest real estate agency has released its biggest brand campaign ever. The spring campaign, “Proudly Ray White”, was created to help service the more than 730 Australian offices under the leading group’s umbrella. Spearheaded by Ray White marketing manager Todd Alexander and brand manager David Williamson, the campaign was inspired by Ray White’s rich […]

Channel 7 Reporter Attacked With “Urine” While Reporting!
  • Media

Channel 7 Reporter Attacked With “Urine” While Reporting!

Channel 7 reporter, Paul Dowlsey had an energy drink thrown at him and sprayed with what he thinks was urine, while trying to cover the tradie protest over mandatory vaccines in Melbourne.  Protestors, many donned in the signature tradie uniform of neon yellows and oranges, took to the streets in Melbourne yesterday. Hundreds marched through […]

by B&T Magazine

B&T Magazine
JCDecaux Unveils Mass Digitisation Plans After Snaring Huge Sydney Trains Advertising Contract
  • Advertising
  • Media

JCDecaux Unveils Mass Digitisation Plans After Snaring Huge Sydney Trains Advertising Contract

JCDecaux has announces the successful outcome of one of the largest Out-of-Home advertising contracts in Australia, as Sydney Trains appoints the company as its main advertising partner across the concourses and platforms of train stations for a term of up to ten years. The company, still smarting from relinquishing the City of Sydney contract to […]

The Lab Expands Executive Team With Three Promotions
  • Marketing

The Lab Expands Executive Team With Three Promotions

Leading cultural insights and strategy company The Lab today announced the promotion of three senior staff members to executive positions in its Melbourne and Sydney offices. The promotions follow strong growth for The Lab, with the addition of new clients and the launch of its innovative new artificial intelligence and machine learning division, Lab AI, […]

Booktopia’s Alex Huntley On Partnering With SaaS Platform Freshworks And Tackling The Pandemic
  • Marketing

Booktopia’s Alex Huntley On Partnering With SaaS Platform Freshworks And Tackling The Pandemic

Alex Huntley, Booktopia’s head of customer experience, recently appeared at software company Freshworks’ recent digital CX summit RE:SOLVE. During the summit, Huntley shared his thoughts on future-proofing customer service architecture.Huntley sat down with B&T to discuss Booktopia’s partnership with Freshworks and how it has helped their platform develop. B&T: Why did Booktopia first decide to partner […]

Nestlé Oceania Adds The Edison Agency To Strategic Design Roster
  • Marketing

Nestlé Oceania Adds The Edison Agency To Strategic Design Roster

The Edison Agency has made four new appointments in its Sydney office to service the continued growth across key account The Arnott’s Group and the recent appointment to Nestlé Oceania’s strategic packaging design roster. Over the past 12 months, the culmination of strategic and creative work across the Uncle Toby’s brand and continued growth of […]

SCA Launches Smart Speaker Experience Tom & Olly’s Guide To Lockdown
  • Media

SCA Launches Smart Speaker Experience Tom & Olly’s Guide To Lockdown

SCA has announced a new smart speaker experience for the Hit Network, with Tom and Olly’s Guide to Lockdown. A voice-activated way to get inspiration and information on fun activities that can be done at home, the guide is curated to appeal to a wide audience. Smart speaker users will find a range of ideas […]

IPG’s Reprise Appoints New Chief Product Officer & GM, Client & Commercial
  • Marketing

IPG’s Reprise Appoints New Chief Product Officer & GM, Client & Commercial

Reprise Australia CEO Maria Grivas has announced two new senior positions at the digitally-led performance marketing business that is part of Mediabrands Australia. The appointments are Grivas’ most prominent steps since taking her role in June this year. “At Reprise our mission is to help brands build and accelerate customer flow,” said Grivas. “These new […]

QMS’ Jemma Enright Talks The Company’s Plans For The City Of Sydney’s $300M Outdoor
  • Media

QMS’ Jemma Enright Talks The Company’s Plans For The City Of Sydney’s $300M Outdoor

Back in June 2020, QMS pulled off a major coup, snaring the City of Sydney’s outdoor assets away from rival JCDeceaux in a 10 year deal reported to be worth $300 million. COVID has made the changeover and erection of new street furniture challenging, but here B&T chats with Jemma Enright who joined the business […]

by B&T Magazine

B&T Magazine
Two M&C Saatchi Creatives Talk Making Art To Stay Fresh
  • Opinion

Two M&C Saatchi Creatives Talk Making Art To Stay Fresh

M&C Saatchi creatives Sam Rowlands and Jason Leigh talk about their personal creative pursuits, and how it informs their advertising. Then they decided that, as they hadn’t seen each other in a long time, they’d prefer to interview each other… Sam Rowlands — art director/painter/sculptor/fashion designer (as interviewed by Jason Leigh) Sam forgot about our […]

Opinion

by B&T Magazine

B&T Magazine