Interesting study released this week shows marketers are either a) hard on themselves when it comes to self-critique or b) are not satisfied with what resources they dedicate to measuring their marketing performance (see article here).
Probably a combination of both. However, I wonder if the study is also highlighting how complex the marketing machinery can be. In this day and age, the amount of data a marketer can sift through is monumental. It is no longer a question of “how do I find my results” but “what results do I pay attention to.” More often than not, it can be information overload and paralysis by analysis – that moment where you look up and realize you’ve just spent two weeks hunting down what you were sure was going to be the magic bullet – but, instead, you’ve gained some insight but lost two weeks of momentum.
All marketing efforts need to be analyzed with agreed upon metrics. And that is the key, I think. The metrics you are going to measure your success need to be agreed upon throughout the organization – this collaboration around metrics will focus the analysis and highlight those successes, and failures, that drive marketing towards the goals of the company. And, perhaps, allow marketers to give themselves higher grades in measuring performance.