Modern marketing is all about information, and there is too much information in too many sources. Therefore, the key is to orientate well in all the data. In this connection there is the issue of measuring progress. There are various indicators, but many of them are not linked to turnover and profitability to sufficiently please with the company's management. It is therefore necessary to determine which indicators are need for marketing itself in order to improve performance and keep them for internal use. Outwardly, it is necessary to communicate such benchmarks which clearly demonstrate the benefits of marketing activities.
Which indicators should therefore not be used for communicating marketing to management in order not to loose its position?
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Simple indicators that demonstrate the vanity rather than actual impact. For example, the number of mentions in the press based on distributed press releases, number of leads, or number of fans on Facebook.
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Determination of the quantity instead of quality. Marketers often refer to lead quantity. Rarely their quality is also measured.
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Activity monitoring versus monitoring results. Marketing activity can be easily traced and measured (eg, by expenditure), while the results are much more difficult to measure. In contrast, in sales, results can be easily measured, but it is difficult to measure the activity. Watch out for that marketing was not only perceived as a cost item.
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Effectiveness vs. efficiency. If you have organized an event that is packed with visitors, you were efficient with generating leads. The question is whether they are the right people, i.e., good leads. Good leads transform into customers and the event in such case was effective.
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Cost indicators. Imagine a marketer who improved the quality of leads while reducing the cost per lead. Very excited, he goes to the CEO and asks a higher budget in order to expand the successful new customer acquisition program. What a surprise when the result is a reduction in the budget. Due to the fact that he communicated the reduce in costs, it was natural that the CEO has allocated the extra budget where it will work to generate more money. Thus, for example, to sales.
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