Make Marketing the Hero at Your Next Executive Leadership Meeting
By Kara Smith Brown
CMOs and marketing leadership are, and should be, expected to provide data to back up their work, including ROI and bottom-line contribution. CFOs have revenue projections and sales leaders have the number of deals closed, but most marketers aren't used to being asked for demand generation and conversion math. Our favorite best-selling author Aaron Ross says, “Demand generation (demandgen) folks can figure out corporate marketing. Corporate marketing cannot figure out demandgen. Ever."
An indispensable marketer should always be able to answer two questions with analytics: what did we accomplish and what are we accomplishing next. Leading with meaningful analytics may sound easy, but getting there without leaning on vanity metrics is hard.
You can’t measure what you don’t track.
Before you can measure metrics, you should establish expectations on how your marketing goals will ladder up to company goals. Tracking the vanity metrics (i.e., impressions) will not help demonstrate ROI to the leadership team. You need actionable metrics that tie specific and repeatable campaigns to observed results.
Key performance indicators (KPI’s) are specific goals that help you evaluate what’s next. There are some factors you should take into consideration when you are setting these up:
Align KPI’s that are directly related to strategic business goals
Consider how quickly your company is growing
Measure performance indicators that will show growth (week-over-week, month-over-month, year-over-year)
Provide actionable insights.
Metrics are a great first step for any marketing executive. It’s what you do with those metrics that will drive home your value. Evaluating how your metrics stack up against your team’s KPI’s, documenting lessons learned, and proposing next steps based on results should always be the output of any marketer’s reporting.
The measurable improvement you will be tracking is where you can start to show marketing progress. Through the proper analytical reporting tools and a repeatable strategy, you will never come to a meeting without a plan. Let us help you get there.