There are days when all the advice about the metrics marketing should use feels overwhelming. I’m reminded of a quote from Lewis Carroll’s Alice in Wonderland – “If you set to work to believe everything, you will tire out the believing muscles of your mind, and then you’ll be so weak you won’t be able to believe the simplest true things.”
Much has been written about how to measure the effectiveness of marketing, but most of the current literature and research focus on measuring the success of tactical marketing activities or of individual marketing groups. Literally hundreds of measurements are available, but categorizing them in a way that’s meaningful to different stakeholders – that’s the hard part. The metrics that are most often leveraged by marketing managers to track the health of their programs or campaigns will appear irrelevant to the CEO and executive management. That may not be fair, but it is realistic.