Lameen Witter - 5 Prevailing Myths of Marketing Measurement, BUSTED

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Prevailing Myths of Marketing Measurement, BUSTED
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• To help you are a B2B marketer, you must know the
  need of measuring and proving the impact of the
  work. However, its far too simple to turn down
  the wrong measurement path under the light of
  common myths that no longer reflects reality.
• To help you avoid any pitfalls, Lameen Witter
  share 5 popular misconceptions that will help you
  for effective and meaningful marketing
  measurement.

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Most marketers are confident in their ability to
measure ROI

• In reality, if you ask marketers, very less
  percentage of marketers will say that they
  accurately and successfully measure ROI.
  Basically, marketers struggle to establish their
  impact because its challenging to do so between
  specific buyer stages and across campaigns or
  channels. In fact, a few percent of respondents
  confessed that they dont measure marketing
  initiatives in the middle of the funnel and
  one-third arent evaluating campaigns in the
  later funnel stages. However, when it comes to
  operating in the middle of lengthy buying cycles
  and decisions by committee, marketers must be
  capable of tracking and measuring activity at
  every stage of the buying cycle.

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Click-through rate (CTR) is an effective way to
measure the impact of digital marketing efforts
and ad campaigns

• According to experts 80 of marketers still
  report on CTR, this method doesnt properly
  measure influence on the bottom line. Metrics
  like CTR are familiar and simple, helpful mostly
  for day-to-day optimization, A/B testing, and
  evaluating whether an ad is gaining an audiences
  attention. However, CTR is not helpful for
  measuring business impact, supervising long-term
  decision-making, or linking to growth and
  profitability. Measuring what matters implies
  tracking and reporting on metrics that directly
  associated with revenue.

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More leads means more business

• The truth is that higher-quality leads mean more
  business. Although lead volume is essential, it
  shouldnt be the topmost priority. Increasing a
  high quantity of leads does nothing for business
  if those leads arent likely to convert. In
  fact, its likely to fall down and disappoint the
  sales team. However, if you can instead deliver
  high-quality leads, youll be able to fill the
  pipeline with guaranteed opportunities that sales
  will be happy to take on.

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In general, marketers are effectively nurturing
prospects

• Around 5 of leads saved in Sales Navigator were
  raised by Sponsored Content. Maybe one reason is
  that marketing is still of the mindset that its
  topmost mandate is demand generation. However, as
  a self-empowered consumers find their way through
  the research and purchase process, marketing is
  gradually called upon to involve them completely
  into the buying cycle. By exactly mapping the
  path to purchase, and understanding the info and
  content needs of consumers at each stage,
  marketers can better nurture predictions and
  drive them toward converting.

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Any company can quickly get its measurement,
attribution and data practices to a healthy level

• You will find only 1.3 of marketers who are
  confident they have the knowledge to get value
  from data. Without the required training,
  marketers are at a serious disadvantage when it
  comes to evaluating their performance, proving
  their impact, and constantly improving their
  results. Moving up this maturity curve is not a
  piece of cake. According to Lameen Witter, it
  requires serious planning, though, and continual
  emphasis.

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Final Thought

• So, these are the top five misconceptions of
  marketing measurements that need to be busted in
  order to make effective and meaningful marketing
  measurement.

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