Forrester came out with a study earlier this month saying that 76% of marketers had no way to determine their ROI on advertising, yet spend 60% of their budget on it and gives agencies a failing grade when it comes to returns.
During a recent marketing presentation, an information poll was taken and 79% of the marketers had no clue how to measure marketing’s impact on sale’s ability to close a deal.
These two situations demonstrate the real need for some solid metrics in the world of marketing. It really strikes at the core as to why marketing doesn’t get much respect and why CMOs have the shortest tenure of any top officer in most companies.
When is marketing as a community going to wake up and admit they need to rethink their approach? My alarm clock went off years ago, has yours? There is no reason why those numbers should be has high as they are. Any marketer who is in the camp that can’t explain how marketing impacts the bottom line in direct ways, better be worried.