Now more than ever, numbers rule. Marketers are being pressured to deliver hard data on how their efforts increased the company’s bottom line. As such, measuring effectiveness of efforts and steering marketing initiatives towards tangible results were at the top of marketing executives’ lists, according to a recent IDC survey.
But, what should you measure? To get to the heart of the matter, focus on metrics that meet the following criteria:
- Metric reflects business results
- Metric measures something you can influence
- Metric can be accurately, consistently, and cost-effectively measured
- Key stakeholders agree that metric is important
By focusing on metrics that meet these criteria, you will be able to measure the success of your marketing efforts, concentrate your efforts on the initiatives that actually matter, and justify marketing expenditures.