Metrics to Embrace and Metrics to Ignore
The first quarter of the new year is always fun. Marketers emerge from the budget cycle wasteland to implement their plan for the next 12 months. It’s an important time to have your proverbial ducks in a row. To do that you need to gather data. You need to gather the facts. You need to line up the right information, in an easy-to-understand presentation, so that you and the senior executive team can see the appropriate marketing correlations and make the right decisions to drive company revenue. That’s right. The marketing team is responsible for driving company revenue. Although sales gets a lot of the credit, marketing has to do the heavy lifting. And I say this as someone who has spent his life leading sales teams. Modern marketers have all the power—and all the responsibility—to feed the sales beast. You must use the right metrics and then over-perform so the company can meet or exceed monthly and quarterly revenue numbers. You must have enough qualified leads to call to generate the right number of opportunities and create corresponding pipeline activity that leads to more business and exceeds the quota. Metrics are critical data. They are statistics. They are also the foundation of how to manage a company in 2016. Metrics could be the key to getting you more headcount, a bigger budget, more responsibility, authority and a seat at the senior management table. Without the right statistics, you are just an opinion, on equal footing with everyone else. If you have the right metrics, you can drive more powerful solutions in a way that it is hard to ignore. Some marketers have a love-hate relationship with stats or metrics. They love them when they help the cause, they hate them when they are hard to collect or interpret or don’t help the decision process. Most marketers know the broad categories that are essential to measure: website and blog activity, email performance, number and quality of leads, conversion numbers and percentages, social media interaction and most importantly, content that leads to revenue. Most of this information is important for managing the marketing process. But since some is fluff, you’ve got to be selective. This means ignoring certain data and focusing on the important stuff. To find out which five key metrics to focus on and which five to ignore, read the full article.
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