Making sense of marketing metrics
Marketing has its own set of metrics like any business function. Marketers talk about awareness, market share, lead generation, media hits, etc. The question for CEOs is how these metrics translate help make better business decisions.
Having the marketing team translate its metrics using the following three questions can help bridge the gap between marketing activities and the bottom line:
- How much business has been gained and at what cost?
- Is the cost too high or would more business be gained by more investment?
- Is the balance of cost and investment about right in relation to the return of profitable revenue?
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