In my last column, I shared recent research about how CEOs have lost trust in CMOs’ ability to be focused on business performance. Hopefully, when asked how your company currently measures its digital initiatives you don’t get an answer like this (LOL, well done Adobe):http://www.youtube.com/watch?v=X4WmSPdFCEY&sns=em
Seriously, the issue is that most analytics frameworks don’t tie all essential marketing metrics back to financial statements. We have been preaching about how this needs to be done since 2001. I suspect, that I may have not been specific enough unless I was pushed for details. Today, I’d like to share a short video presentation that should better explain how this is done. Hopefully, you can create an organization that can manage your marketing efforts with true accountability and react to changes in real time as needed.
This marketing analytics framework will allow you to get your reporting structure set up properly so that your analyst can free up her time to deliver real insights on analysis instead of focusing on delivering meaningless reports that most people ignore. This framework will win over your CEO and CFO, just show them.
Let me know if you have any questions about how to get this done in your organization.