In the final segment of our CMO panel video series, we look at performance measures that marketing experts use to track progress during this age of customer empowerment. Engagement metrics are becoming more important than ever and our panelists explained a few ways they are tracking success:
- Usability feedback from individuals and on applications/products
- Tie performance back to business and pipeline using tools such as Customer Acquisition Cost
- Rule of thumb: Cost per buyer (conversion activities) needs to be less than the profit from that person
Panelists expressed how certain channels and experiences are hard to measure, but impactful, such as PR. We also need to continue looking to the future, for example the rise of the Internet of Things and how additional devices will affect customer data.
Take a look and enjoy the expert advice from the leading marketers at SAP, LogMeIn, Imprivata and Wayfair. As we march toward 2015, the empowered customer continues to be an evolving topic of conversation. Let me know your thoughts @markcnardone and check out the first two video segments here.