The speaker at the recent BMA Chicago luncheon was talking about using data to make better marketing decisions and thus, get a better return on investment.
We all know ROI is a huge, hot topic for CMOs these days. It’s just that so few companies are doing everything they can in terms of gathering the data to help prove marketing ROI to the CFO and other C-Suite-types. And if they are, it is more confined to media-type metrics.
Media metrics are important, but . . .
I don’t mean to minimize media metrics in b2b communications. They are important analysis tools to help us see what is and isn’t working in order to refine the program to increase positive results. But media metrics, in and of themselves, are not ROI.
I really think we’d all be better off if we just stopped dancing around this issue and trying to foist media metrics off as ROI measures.
But the dance of deception is real
If you don’t think this dance of deception is an industry problem, check out what b2b marketers in North America told us in a Mobium survey about their ROI activities aimed at seeking increases for their budgets:
Chicken Dancer: flickr.com/photos/mikebabcock
Fire Dancer: flickr.com/photos/72213316