A study by the Fournaise Group indicates that CEOs are not comfortable with the business acumen or the use of quantitative analytics by CMOs in creating and building marketing plans. Marketers know that their initiatives and activities need to be metrics driven. But do you know which metrics should be driving your marketing? The following seven metrics are ones that every financial services marketer should know, as they are proven to drive performance and boost the top line.Download PDF
Despite what you may think, the life of a marketing data “supermodeler” isn’t all glitzy lunches, dedicated printers, and corner offices. Truth be told, the pressures of not realizing the enormous potential of the massive marketing data available to a financial institution can only add to the stress of hot marketing boardroom lights, daily evaluations, and sleepless nights.
When we asked about measurement in our annual survey, we found that measuring ROMI has reached a near universal adoption rate: 94 percent of financial services marketers are measuring their ROMI, up from 71 percent in 2015. Yet, a majority of respondents are not maximizing their use of data and analytics, despite the fact that 98 percent say they rely on data and metrics to some extent to drive their marketing plans.
To justify your existence as a marketer, it’s imperative to communicate the positive influence of your marketing spend to senior leadership. Linking the results of your campaigns with bottom line measurements like revenue and profit is imperative. Steve Nikitas details several key performance indicators and analytics to help you do this.