If you follow marketing and digital related blogs and news sites, then it won’t come as a surprise to you that marketing professionals and CMOs are expected to show how activity achieves business results.
As marketing professionals, we need to have an in-depth and real time understanding of how we contribute to our organizations’ or clients’ revenue. In addition, we must also be able to have an ongoing conversation with our sales teams that is revenue focused, far away from “the feeling” that our campaigns are generating good results and increasing brand awareness.
As spending on digital takes a greater share of the overall marketing budget, greater scrutiny is being brought to bear upon the CMO to justify these investments. Attributing revenue to a specific channel or combination of channels, rather than just attaching it to the “last click” is a challenge that is beyond the capabilities of most.
A good approach to doing this is to create your own marketing dashboard.