When pitching their services, marketers love to tout the massive video views and clickthrough rates their campaigns drive. But adhering to flimsy metrics may prove counterproductive, according to a study by Viant . In a March 2018 survey of 50 CFOs in the US, 36% of respondents said one of their biggest concerns about the digital marketing at their organization is that they measure in vanity metrics. The surveyed CFOs concluded that many data points they’re presented with by marketers don’t really matter to their ultimate goals. Obsessing over how much incremental “engagement” a product drove may sound good in a marketer case study, but it won’t necessarily garner increased investment from clients. “Marketers who can prove the value of digital marketing campaigns are in a better position to secure increased marketing investment than those who rely on proxies or vanity metrics and hope for arbitrary increases,” Viant researchers wrote. “Simply put, the ability to tie advertising investment to actual purchase and prove return will unlock more budget.” The biggest issue CFOs had with their organization’s marketing efforts was that they saw digital marketing as a cost center. The surveyed CFOs perceived that digital marketing isn’t adding profit, but instead costs more money to operate than it brings in. They also took issue with how transparent marketers are in presenting their successes and failures and that their marketing teams don’t judge success based on concrete outcomes like sales. From too much reliance on vanity metrics to the belief that […]
Vanity Metrics Spread Doubt About Digital Marketing’s Effectiveness
You May Also Like
How to Build Trust in Your Marketing Efforts
While this may seem like an obvious statement, the truth is building and maintaining a business is something you have to continually invest in. Essentially, your work is never done. You must build a customer base. In fact, this is the only way to not only grow your business but also to survive. Unfortunately, there are many businesses that assume that once someone buys something (anything), the individual is now a part of their “custom…
Five Simple and Secure Ways to Market Your Business
As a business owner, you know that success depends on finding and keeping customers. Your products or services may be top-notch but without customers, you won't be profitable. You'll need to develop a comprehensive strategy in order to not only reach the consumers who can benefit from your products but also convince them to make a purchase. Fortunately, there are secure and effective marketing techniques you can employ that will take yo…
Want to Become a Better Marketer? Use These 5 Steps
Today’s marketing and advertising industry would be almost unrecognizable to a time-travelling marketer from 20 years ago. The rise of social media, broadcast and OTT addressability, and a slew of digital ad products have made it easier to reach people, but harder to cut through the noise and stand out. Assume Your Customers Know Nothing About You First, accept this simple truth: you know much more about your customers than they know …