In a marketer’s world today, click through rate (CTR) is one of most commonly used metrics to determine the success of an ad campaign. The dirty little secret though, is that the click means nothing. As recent as this month on Facebook’s Q1 Quarterly Earnings call, CMO Sheryl Sandberg commented on the need to look beyond clicks. "Our focus for Atlas is on impression-based ads. Historically, a lot of online ads have been based on the last click. As people have begun to look more holistically at all the ad spending they're doing, what they find is that it's all the impressions that lead up to the last click that matter.”
Savvy marketers are realizing that to get “real” results of their ad campaigns, they must identify other KPI’s that matter depending on their campaign goals – brand awareness, retargeting, direct response sales or website traffic. The standard for measurement has changed so dramatically now that marketers are able to leverage insights from all of their data, they have come to realize that all campaigns must be tied to the right KPI.
This concept requires marketers to look at the quality of the “measurement” they are doing, looking across the entire sales... Read more
The CMO of the future is one grounded in analytics. Big ideas, creative vision and innovative thinking are all still critical for the long-term success of an organization, yet with the drastic proliferation of data available to a marketing team, the future CMO has no choice but to use the data to leverage strategic advantage over the competition. It’s either do that, or allow the competition to do the same to your firm.