Summary

In this episode of 'So I Fired My CMO', Duncan Potter delves into the critical role of metrics in modern marketing. He emphasizes the need for businesses to focus on meaningful metrics that connect marketing activities to revenue outcomes. The conversation covers the importance of distinguishing between engagement, conversion, and revenue metrics, as well as common pitfalls in measurement. Duncan also provides insights on building an effective marketing metrics dashboard and offers actionable advice for marketers to improve their metrics tracking.

Takeaways

• Metrics matter because they connect marketing to business outcomes.
• Engagement metrics alone do not equate to success.
• Customer Acquisition Cost (CAC) helps assess growth efficiency.
• Customer Lifetime Value (LTV) indicates how much a customer is worth.
• Return on Ad Spend (ROAS) is a directional signal for ad effectiveness.
• Conversion rates reveal the effectiveness of content and design.
• Marketing sourced pipeline indicates alignment with market needs.
• Beware of attribution bias in complex buyer journeys.
• Full funnel visibility enhances decision-making in marketing.
• Regularly audit your marketing metrics for alignment with revenue.