How to Tie Marketing Metrics to the Data that Boards, CxOs, and Investors Really Care About – Whiteboard Friday
Posted by randfish
SEOs and executives speak different languages. It’s a simple fact, but it’s one that often acts as a blocker for getting your ideas and investments approved. A simple change in how you communicate your marketing goals, triumphs, and challenges could be what’s standing between you and getting the C-suite buy-in that’s integral to your success. In today’s Whiteboard Friday, Rand helps you translate your marketing jargon into financial metrics and data that the folks in charge will actually care about.
Howdy, Moz fans, and welcome to another edition of Whiteboard Friday. This week we’re going to chat about tying marketing metrics that marketers use to the things that CEOs, CXOs, whatever the C-level titles that you’ve got are, investors, board members, to the metrics and data that they care about.
This is a problem that I’ve talked about with many marketers over the last few weeks, especially at some conferences and events where folks say, “Hey, we’ve got our metrics dialed in. We know what we’re doing. But when we present it to the Board, or when we present it to our CMO, or our CEO, when we show it to our investors, not only do they not get it, it’s like we’re not speaking the same language, and therefore we’re not able to have a conversation productively about where investment should and shouldn’t be made, and they’re not able to give input into whether they think our idea is a good one, or whether they think there’s a good return on investment there.” This can be tough.
Start with the metrics that marketers care about
So what happens is you’re a marketer, you’re presenting here to your Board of Directors or to your executive team, and you say, “Hey look, we’ve got traffic growing in every category. SEO is up. Social is up. We’ve grown our link profile, which is going to help us with search, all these great things.” Fantastic, but the Board is sort of sitting there like, “Well, I don’t really know how to contribute, and how does that tie in to higher lifetime value of customers, because that’s the thing that I know and the thing that I care about, and I’m not sure this marketer person is really investing in the right kind of ways for the organization.”
That sucks. As a marketer, that totally sucks, because it means that you are not communicating your message, and that means you’re not going to get, you’re unlikely to get buy-in from all these people that you really care about and need their permission and their acceptance in order to make the investments you need.
The thing is, marketers are very focused on the funnel.
We care about metrics that show top-of-funnel growth. We care about which channels send that top-of-funnel traffic. We care about how people are moving through the funnel. We want to …read more
Source:: Moz Blog