Marketing leaders must measure performance and articulate it- as to how it aligns with overarching goals. But what if you’re not measuring the right stuff?
As a tech publication, we spend an inordinate amount of time covering topics, interests, and even- challenges that keep marketing leaders up at night.
Now, there’s a lot of talk about marketing KPIs (trust us, we know!). But the fundamental issue here isn’t about not having KPIs or not knowing what they are in the first place. It is about not knowing which ones are right for your brand and team.
Here’s what to do.
Don’t get distracted
New technologies and channels will keep emerging; keep your eye on the goal. This is not to say you shouldn’t keep pace with what’s new. As modern marketers, we must know what’s shaping our industry.
But don’t spread yourself too thin trying to chase every new thing in the market. Sometimes (Especially with tight budgets and lean teams), it makes more sense to sit it out and not jump on the bandwagon. After the new technology/channel/trend has proven its value, you can create a strategy backed by data- knowing precisely how and where it’ll add value to your business.
Vanity Metrics only look good on paper
How many people saw your post has nothing to do with how many deals your sales team are going to close (It sucks, yeah!).
The point is marketing is now a growth center. There was a time when marketing got a budget only to look good on TV and hoardings, but that’s not the case anymore.
Today, marketing budget, to a great extent, is about making sales easier. As contributors to the bottom line, all the revenue leaders must be on the same page. Marketing and sales must have common goalposts and should be in perfect sync on the strategy and the way forward.
Dollar for a dollar
Every penny that goes into marketing should give returns (not immediately, but should be an investment, not a liability). Marketing leaders should act as the CFOs of their departments. Financial efficiency is one of the most crucial core competencies of modern marketing leaders.
Building a tech stack is fun. But it is also indispensable to streamline workflows and increase productivity. Go for tools/technologies/platforms/ that make it easier for you to achieve your goals. You should be investing your budget to simplify, not to overcomplicate.
Make your budget work for you, and not the other way around.
Last but not the least
Don’t lose the passion. Most marketers we’ve interacted with got into marketing for how it speaks to their souls. Unlike doctors, we didn’t get into this business to save lives; we got into it because there’s no other job on this planet that would bring us more joy than this profession.
So, let’s not take it too seriously! Experiment, be creative, and make it a point to have some fun 🙂
