The Metrics that Will Make Your CMO Love You – Article Example
The paper "The Metrics that Will Make Your CMO Love You" is a good example of a marketing article review.
The article, “The metrics that will make your CMO love you”, has highlighted initiatives used by marketing officers to ensure higher returns by attracting more customers. Understanding how the customers make their decisions on various brands in the market will help the officers to balance their approaches on media channels used in advertising. It also ensures a larger market share being attained with the least possible revenue that is used in advertisements.
Decoding the customer metrics and realigning present marketing plans will lead to positive results. To enhance revenue and profitability, marketers have to comprehend the metrics on revenue contribution. It calls for a brand demand cycle that helps in the monitoring of revenue used in advertisements of the brand. Insights on the metrics include the paid, owned, and earned strategies of causing awareness. A marketer has to balance the three principles to ensure that the firm runs on profits and paid advertising does not consume much of the revenue.
Use of customer feedback metrics is also recommended where customer-marketer relationships are used to gather information on the tastes and preferences. This data is used in future decision-making procedure for a business ensuring that all requests by the customers are catered for using appropriate measures. Using the ‘net promoter score’ as a metric will help the marketer predict future demand trends for the brand. It also aids in the review of negative comments that have been presented by the customers on various platforms such as social network sites.
Decision-making procedures can be improved by strengthening the bond between the customer and the marketing officials. Marketers should not solely rely on the metrics from the brand but also include the opinions of the customers. Use of new ideas, creativity, and innovation, should be emphasized to counter the negative opinions.