Data–Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

My name is Marcos Augusto and I study at Dallas Baptist University. The book Data Driven Marketing, portrays the difficult reality of the company leaders in managing the budget correctly. Therefore, the goal of this book is to give to the reader transparent metrics, tools, examples and a road map to actually do data driven marketing and apply marketing metrics in your organization. More advanced tools and techniques exist for linking marketing to sales. According to the author, a marketing divide exists between organizations that do data driven marketing and use marketing metrics, and those that do not. It shows researches that firms that “keep score” for marketing have significantly better financial and market performance compared with those that do not. The writer concentrates in 15 metrics that capture the most value for marketing. 5 for Nonfinancial metrics: Brand awareness, Test drive, Churn, Customer satisfaction (CSAT) and Take rate. Also, another 10 for Financial metrics: Profit, Net present value (NPV), Internal rate of return (IRR), Payback, Customer lifetime value (CLTV), Cost per click (CPC), Transaction conversion rate (TCR), Return on ad dollars spent (ROA), Bounce Rate and Word of mouth (WOM). As an example, I’ll talk a little bit about the Brand Awareness: Measured by asking. A strong brand drives initial preference in a purchasing decision and enables a price premium over nonbranded products or services. Use nonfinancial metrics from surveys to track brand awareness and the impact of brand marketing. This is very important to position the brand within the desired level. I really recommend diving in the other 14 metrics. This book is focused to help the reader to master the latest analytical techniques while maximizing your Return on Marketing Investment (ROMI). It gives us access to surveys with CMOs and CEOs of big and renowned companies, showing real data, metrics and results. These surveys make clear the differences between leaders and laggards. The leaders spend less on demand generation marketing and more on branding and customer equity and on infrastructure to support data driven marketing. As a result, leaders have significantly better sales growth and financial performance compared with laggards that spend more on demand generation marketing (marketing activities to drive revenues in relatively short time period, after marketing campaign). The book also covers 5 main obstacles to data driven marketing: 1. Getting started (we don’t know how to start). 2. Causality (effect of campaigns and financial ROI). 3. Lack of data (not able to collect data for some reason) 4. Resources and tools (don’t have an infrastructure to support data driven marketing) 5. People and Change (don’t have people with skills, organization resistant to new ideas). The writer covers the main metrics to radically improve marketing performance and also make it clear, that, financial metrics quantify more than 50% of marketing activities and when the financial metrics do not work, define marketing metrics that are leading indicators of sales. In my opinion, this book is a mind opener about marketing data and the magical relationship between creativity and data driven marketing. The advertisement must be combined with data driven marketing, only in this way we are able to quantify how much the advertising is working or not. This is a simple and easy reading, rich in practical examples and tips about how to manage your budget and how to use the metrics that will provide this perfect management. I strongly recommend this book!

I recommend this book to anyone in business as it sets out the clear 'data divide' that exists in marketing practice. It lays out 15 metrics which every marketer should adopt and provides real-life examples of these in use (Lexus, Continental Airlines) as well as Excel worksheets to help implement them in the reader's workplace. It shows that companies that 'get it' are the ones that end up winning. It's no surprise that Jeff Bezos makes it compulsory reading for all his Exec team.

Best marketing book I've ever read.

Gutes Buch und motivierend zugleich. Die Unterstützung zur Nutzung von MS Excel für KPI Reports rundet es ab. Thanx Mark

I haven't started reading the book yet, but I am much satisfied with super fast delivery. I received book in 2-3 days. thanks