Brands in the digital age: Marketing metrics myopia
With the exception of sales data, most measurements give little insight into what really matters: how marketing activity is building brand value over the longer term. So marketers need to make sure their brands are meaningful, different or salient to build for the future.
In this digital age, marketers are faced with a plethora of metrics with which to measure the success of their latest marketing activity. But do those metrics measure something meaningful or are they simply focusing our attention on short-term success to the exclusion of long-term brand-building? Marketers would do well to bear in mind theoretical physicist and Nobel Prize-winner Albert Einstein's quote: "Not everything that can be counted counts, and not everything that counts can be counted."
With senior management confidence in the value of marketing in decline and demands to prove the value of marketing becoming more strident, all too many marketers are turning to readily available metrics to justify their actions, irrespective of whether they count anything that matters.