"However, when you are ready to truly understand your firm’s marketing performance, the only metrics that matter are the ones that reflect your firm’s historical performance against its current performance. Here’s why:
- A common set of performance metrics and standards doesn’t exist. There isn’t a consistent understanding of, or agreement about, marketing benchmark inputs; there’s no standard “recipe” for how to define those numbers.
- Companies don’t attribute costs and expenses the same way.
- Chasing a single metric will cost you in other metrics. Benchmarking encourages single-metric myopia.
Ultimately, benchmarks are not as helpful for planning, execution, or management as you might think. Just because something worked for another company - one that you might even consider a “peer” - doesn't mean its approach is right for you."
RYZZ: It’s a new approach to MarTech for B2B Marketers.
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