Simple conversion rates are not enough to measure true marketing return on investment, says Aprimo’s Chief Product Officer, Kevin Souers, suggesting marketers instead map out the entire customer journey if they want to fully understand where their money is working hardest.
Traditional methods of measuring marketing success generally direct every metric back to sales. This can be a challenge so it is often filled in with another set of metrics such as click-through rates, open rates, and engagement rates. But these don’t tell the full ROI story, says Souers.
“We look at it as an operational challenge,” says Souers. “The ROI can’t just rely on the conversion rate at the execution level. A lot of things occurred before that click and before that conversion.”
At a recent ADMA roundtable in Melbourne, Souers and Which-50 editor Andrew Birmingham discussed the challenges facing CMOs today.
Aprimo focuses on how quickly they can get new content out to market and how nimbly that is executed across channels, and then identifies where marketing played a role in those processes.
“What did it take to get a customer to type in that search?” asks Souers. “The customer journey and measuring the resources it takes to consistently get that content out, to get those campaigns out, becomes just as important as cost-per-click was at the end of the funnel.”
If marketers want to understand the true return on investment for their campaigns, they need to begin looking at the whole picture; and measuring the resources they need to make sure their stories are told.
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About the Authors
Sean Campbell is a solutions consultant for Aprimo. He has worked with leading brands in the US, Europe, and APAC, helping them to transform their marketing operations. Andrew Birmingham is the director of the Which-50 Digital Intelligence Unit, of which Aprimo is a Corporate Member. Our members provide their insights and expertise for the benefit of the Which-50 community. Membership fees apply.