Chief marketing officers need to improve the measurement of their campaigns, an expert has urged.
Jim Lenskold, founder and president of marketing ROI measurement firm Lenskold Group, noted that marketers experience a number of measurement problems ranging from basic accuracy to the proper utilisation of measurement results.
Writing in Marketing Profs, he pointed out that improving measurement discipline can make businesses work in a more coordinated and effective way, while achieving their corporate objectives.
Mr Lenskold stressed that measurement and analytics are powerful tools that help firms improve their marketing performance.
“Without reliable insights into what’s working and where improvements are possible, marketers must piece together their gut feelings on what makes sense with their informal read on marketing’s influence on customers and sales,” he said.
David Level, chief marketing officer at Message Systems, recently said in a B to B Online article that firms should closely examine the relative performance of the same campaign over a period of time in order to get a more accurate picture of its return on investment.