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.
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