If a conversation is occurring about Data and Analytics, chances are high that it is about Metrics. About how abhorrent Vanity Metrics are. About the marginal value of Activity Metrics. About how crucial a focus on Outcome Metrics is. About Metrics for Dashboard – NO! Only KPIs for Dashboards. About the difference between KPIs and Metrics. :) About the need for a balance between Acquisition Metrics, Behavior Metrics, and Outcome Metrics in our Scorecards to paint the full customer journey – and kill silos. And… that’s just me driving all those discussions!! You are surely having many, many, more that…
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An extraordinary amount of time, effort, $$$ are spent on building dashboards/scorecards for CMOs… Yet, the end result, nearly always, is a useless data puke. It turns out boiling the ocean is hard. To build an effective big picture scorecard for the CMO, that is not data pukey, there are three crucial challenges that have to be solved: Represent the full span of the CMO’s world. Marketing broadly tends to obsess about Paid Media, they have to care about Owned and Earned Media as well – the latter will be the source of 70% – 75% of the incremental conversions!…