Monday, January 5, 2015

What is your KPI for success?

I enjoyed this article, written by Benny Blum, from MarketingLand.com.  His article is titled 

What’s Your Marketing Success Metric?

Benny writes about how teams within a company measure success differently.  He stresses the importance of all departments working together: sales, marketing, operations, etc.  Benny goes on to ask "Does the same symbiotic relationship exist within the marketing team?"

Benny provides a clear & simple example of how a team could declare a campaign a success or failure.  What if the campaign resulted in a substantial increase in visits, but conversions dropped considerably?  Does the brand marketing team call it a success, while the site content group takes the fall because of the conversion drop?  He writes:

In reality, the time series analysis is like comparing apples and oranges. The true measure of campaign success should be investment relative to attributed revenue. If the associated sales drove more net revenue than the cost of the promotion, then it’s a win.






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