A provocative article on MarketingProfs suggests that most marketers are tracking "useless metrics."
Carey Straetz, head of demand generation for Mode, a collaborative data science platform, writes that marketers are wasting their time tracking leads, cost per lead and what she calls "vanity metrics," such as email clicks and "Likes." Instead of leads, says Straetz, marketers should focus on pipeline dollars per channel; instead of cost per lead, track customer acquisition cost; instead of vanity metrics, track customer lifetime value. She concludes, "The role of the marketing team is to attract, retain, and engage customers. That process starts with building pipeline and ends with closed revenue from marketing strategies, programs, and activities. Keeping track of the right marketing metrics is critical—especially for lean, efficient teams."
Read more here: https://www.marketingprofs.com/articles/2021/46136/three-marketing-metrics-to-stop-trackingand-what-to-measure-instead? (free subscription required).
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