Marketing Management Analytics
For years, marketers have been getting away with budget murder.
While other teams tie headcount and resources to outcomes, marketers have been allowed to justify big budgets based on feel, sentiment, awareness, among others.
These goals are then validated by equally difficult to understand concepts like:
Cost per view
Number of fans
Millions, no....BILLIONS of reader impressions
Top Marketing Management Priority: Tie every marketing dollar to a specific business outcome.
Ultimately, all marketing initiatives should ladder up to some business outcome. The most common business goals are:
Profits (for profitable companies)
Revenue (for pre-profit companies)
Users (for pre-revenue companies)
Awareness (for pre-product companies)