My experiences in fast-growing companies revealed a variety of ways people measure growth. The one that always gives me heartburn is year-over-year growth. It is frequently stated as a ratio of your current performance to same month or quarter in the previous year. Here what makes this challenging: What happened last January? Any big customers [...] [...]
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It always starts off with a simple request for KPIs or key performance indicators. The challenge I often see is cutting through the noise and actually getting to the metrics that are truly “key”. So what makes a KPI? Here is my list: It is connected to your strategic or tactical goals It is [...] [...] The coming year is likely to be challenging for most marketers as we are asked once again to do more with less. While a smaller budget typically means fewer marketing programs, it doesn’t necessarily mean you have do scale back expectations. Crafty marketers are always looking for innovative ways to get the same results out [...] [...] How much work would we all save if we took the time to run the numbers first? You marketers out there know what I am talking about. You would have avoided the breakfast seminar that generated a bunch of $1,000 leads or that banner campaign that never got any clicks. And who likes sheepishly admitting [...] [...] I always try to arm myself with primary research when making a presentation or principled argument. Many times, however, I have to do some searching for that data so it is great when I find a site that does the heavy lifting for me. Here are some data sources I really like to use: 2007 US Economic Census – Your [...] [...] Pretty much all marketers do it. We spend money on programs that we “know in our our heart” are the right thing but are extremely difficult to track. What am I talking about? For me it has been PR. PR has always been a no brainer as a cost effective way to tell your story [...] [...] How do you track the success of customer or account management programs? Here are some examples I’ve seen: Customer retention rate = The percentage of customers who stay with you over the total number of customers. The downside is that this number ignores the fact that some customers are more important/valuable than others. Revenue retention [...] [...] A couple of weeks ago I poked fun at the array of numbers that frequently masquerade as metrics. As a follow-up to that post, here are some additional thoughts about the attributes of meaningful marketing measures: Connected – The best metrics are related to your overall business goals. This means things like program revenue or [...] [...] I have a CEO friend who uses the expression the “anxious parade of activity” to describe the way marketing people often present results to him. I’m sure you have seen this before. “First we did this tradeshow, then the agency made this pretty brochure, then we ran this ad in Magazine x….” The entire thread [...] [...] A number of years ago I started a new job as the CMO of a fast-growing software company. As I was rummaging through my new desk and the charred remains of my predecessor, I discover something something shocking that explained his untimely demise – his 54 page marketing plan. I’ve never been one to create [...] [...] |
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