CMO's Corner: Are You Boring Your CMO? Master the Marketing Metrics that Matter to Them
How to start a winning conversation with your stakeholders
December 14, 2017
If there is a science to marketing, it lies in measurement. We live in a data-filled, data-driven world today and many marketers have been raised to live and breathe clicks and conversions. But have you noticed that your CMO never walks into a board meeting to talk about bounce rates and traffic?
In this age of analytics, data is a tool. When data used as a form of measurement, it becomes a metric. Every metric has its value, but not all of them are of interest to your CMO and your C-Suite.
There’s a clear disconnect, but understandably so. Metrics like click-through rates are undeniably important to you at a tactical level. They are essential data points that you need to iterate and optimize your campaigns, but not the needle-movers that your C-suite is concerned with.
Apurva Chamaria, Global Head of Corporate Marketing at HCL Technologies, hopes that more marketers will learn to focus on impact metrics like Customer Lifetime Value (CLV), the projected profit that the company will make from any given customer. The first step, he says, is to learn to speak the language of the business.
“I encourage my team, even summer interns, to learn to be commercially fluent. CEOs care about P&Ls and balance sheets, so start there. Understand where your company’s revenue comes from, what the levers for revenue and cost are. Once you have this context, you’ll be able to relate your marketing efforts back to company performance,” he advises.
For more insights from CMOs and senior analysts, and actionable tips to help you deal with data like a CMO, check out our latest pocketbook! The Marketing Metrics that Matter to Your CMO does exactly as it says — it shines the spotlight on the metrics that you should be saving your love for. Check it out if you’d like to:
- Understand which marketing metrics have tactical, but not business, value
- Get an all-in-one glossary of ‘hot vs not’ marketing metrics
- Figure out how to turn data into insights, and use insights to develop a business plan
- Learn how to tell a more compelling data-driven story to a C-Suite audience
- Hear directly from leading CMOs and senior analysts on their data agenda and what they expect from their team
Get your copy of The Marketing Metrics that Matter to Your CMO now.