If you are a B2B marketer,
you must know the need of measuring and proving the impact of the work.
However, it’s far too simple to turn down the wrong measurement path under the
light of common myths that no longer reflects reality.
To help you avoid any pitfalls, Lameen Witter share 5 popular misconceptions that will help you for effective and meaningful marketing measurement.
Myth #1: Most marketers are confident in their ability to measure ROI
In reality, if you ask
marketers, very less percentage of marketers will say that they accurately and
successfully measure ROI. Basically, marketers struggle to establish their
impact because it’s challenging to do so between specific buyer stages and across
campaigns or channels. In fact, a few percent of respondents confessed that
they don’t measure marketing initiatives in the middle of the funnel and
one-third aren’t evaluating campaigns in the later funnel stages. However, when
it comes to operating in the middle of lengthy buying cycles and decisions by
committee, marketers must be capable of tracking and measuring activity at
every stage of the buying cycle.
Myth #2: Click-through rate (CTR) is an effective way to measure the impact of digital marketing efforts and ad campaigns
According to experts 80%
of marketers still report on CTR, this method doesn’t properly measure
influence on the bottom line. Metrics like CTR are familiar and simple, helpful
mostly for day-to-day optimization, A/B testing, and evaluating whether an ad
is gaining an audience’s attention. However, CTR is not helpful for measuring
business impact, supervising long-term decision-making, or linking to growth
and profitability. Measuring what matters implies tracking and reporting on
metrics that directly associated with revenue.
Myth #3: More leads means more business
The truth is that
higher-quality leads mean more business. Although lead volume is essential, it
shouldn’t be the topmost priority. Increasing a high quantity of leads does
nothing for business if those leads aren’t likely to convert. In fact, it’s likely to fall down and disappoint
the sales team. However, if you can instead deliver high-quality leads, you’ll
be able to fill the pipeline with guaranteed opportunities that sales will be
happy to take on.
Myth #4: In general, marketers are effectively nurturing prospects
Around 5% of leads saved
in Sales Navigator were raised by Sponsored Content. Maybe one reason is that
marketing is still of the mindset that its topmost mandate is demand
generation. However, as a self-empowered consumers find their way through the
research and purchase process, marketing is gradually called upon to involve
them completely into the buying cycle. By exactly mapping the path to purchase,
and understanding the info and content needs of consumers at each stage,
marketers can better nurture predictions and drive them toward converting.
For More Information:- Lameen Witter
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