Fluffy Marketing Metrics Your Boss Doesn’t Care About
Digital marketing has changed the way that businesses look at measuring the results of their marketing campaigns. It has become much easier to measure and track each step of the process in real time. Though this makes it easier for marketers to determine what is and isn’t working, it also makes it easier for executives to hold the marketing department accountable for the time and money that they spend on digital marketing projects. When it is time to report your progress, you want to show your boss metrics that clearly show how marketing impacts the company’s bottom line.
Marketing Metrics Your Boss Doesn’t Care About
74% of CEOs think that marketers focus too much on the latest marketing trends, but they are rarely able to show how these strategies contribute to overall business growth. When you take a look at the common metrics that many marketers discuss when measuring the effectiveness of their campaigns, it’s easy to see why they think that.
- Social “Likes”
- Impressions
- Amount of clicks on banner ads
- Page views
Though these common marketing metrics are part of the overall digital advertising and marketing picture, they do not realistically show you how customers are engaging with the brand or how digital marketing efforts are impacting overall business growth. When it comes to internet marketing, most bosses care about the cost and the net results of marketing campaigns, not all of the tiny steps that it takes to get there. Though it is important for you to track these marketing metrics to adjust your digital marketing strategy, these numbers don’t quite tell your boss what he or she wants to know.
Marketing Metrics Your Boss Actually Cares About
With all of the metrics that marketers keep track of, it can sometimes be difficult to determine which are the most important. You want to give your boss an understanding of how marketing affects the bottom line, but you can’t present every single one that you track. So what metrics does your boss really care about?
You will want to start with the customer acquisition cost (CAC). The total average cost your company spends to acquire a new customer can tell your boss a lot more about the effectiveness of marketing campaigns than the number of likes and shares on your company’s Facebook page.
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