MediaPost covered a Funnel report saying most marketers picked their measurement because it told a more favorable story.
That's uncomfortable to read. It's also freeing, because it means the fix is a choice.
A metric chosen to look good can't tell you where the next dollar should go. Clicks and reach feel like progress, but they don't tell you whether anyone new bought.
Start with these instead:
- How much revenue wouldn't have happened without this spend?
- How many new customers did it bring in?
- What would I cut if the answer came back bad?
The third one takes nerve. The flattering number protects you this quarter. The number that can embarrass you is what earns trust from a client or a CFO.
Be willing to be wrong in the report, so you can be right in the budget.
Responding to Defense Mode: Marketers Are Hiding Behind The Wrong Metrics, MediaPost.com