According to a recent marketing performance management and measurement survey, 85 percent of marketers feel increasing pressure to measure marketing’s value and contribution, yet only 26 percent are capable of determining their impact on the business. Conducted by VisionEdge Marketing and ITSM, the survey provides a view into what best-in-class marketers, given an “A” grade by their C-suite, do better and differently when it comes to measuring marketing’s contribution and value.
In addition to classifying marketers’ performance based on their ability to create business value, the survey provides insight to help organizations leverage the right data, analytics, and metrics to improve marketing effectiveness. So what separates the “A” marketers from the rest of the pack? In particular, “A” marketers:
- Make performance management a priority
- Have a well-defined and documented roadmap for continuous performance improvement
- Select metrics that measure business outcomes rather than effort and activity
- Build dashboards that effectively communicate business outcomes and marketing results
Interestingly, marketers in the middle of the pack — those who earn a “B” — tend to focus exclusively on enabling sales. The “B” marketers focus measurement and achievement on mapping the buyer journey and keeping the pipeline of new leads full. By contrast, marketers who receive lower grades, the laggards, are more likely to be perceived to be good at producing marketing campaigns rather than producing business results.
For more information on the survey, see the infographic below: