September 2015 ▪ ▪ Welcome to News with Edge ▪ ▪ Does Your CEO See the Strategic Value of Marketing? ▪ ▪ Did You Know....? ▪ ▪ NYLJ Readers Choose Ed

       
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September 2015

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In his book The Practice of Management, Peter Drucker wrote, “The business enterprise has two and only two basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs.”

To drive the transformation that turns mediocre results into growth and profitability, marketers must raise their heads from the “5 Ps” and focus on big picture strategy. If the executive team at your organization spends ten percent or less of discussion time on marketing, or if they view marketing as a cost center rather than a contributor to revenue, your mission is clear: dig into the data and use metrics to teach them about the value of marketing.

The feature article in this edition of Edge News looks at marketing metrics, and provides a list of specific quantifiable measurements to consider in your goal setting and marketing performance metrics.

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Amy L. Juers, MBA
Founder and CEO
Edge Marketing, Inc.

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By: Megan Miller

marketing-mobile-finance-charts

Truly effective marketing leaders today are fluent in metrics, analytics and spreadsheets. The internet and increasingly available marketing automation tools support the growing emphasis on marketing as a science rather than an art. But still, many marketing leaders still struggle to find the right metrics that will get them credibility with the CEO and CFO in important strategic decisions.
In an often cited Fournaise Marketing Group survey of 1200 CEOs from a corporations across the globe, over 80% of CEOs responded that they just did not understand or trust marketing.

To a far greater extent, CEOs said they did trust information and efforts by finance (CFO) and IT (CIO). This study and others like it reveal that CEOs believe that marketers live in a creative and social media bubble, focusing on “likes”, “tweets”, “feeds” or “followers” – parameters that can’t be proven as drivers of demand or revenue for their products and services.
Read more...

Megan

About the Author

Megan Miller is a senior marketing consultant at Edge Legal Marketing. A technology fiend and certified eDiscovery expert, Megan has written on trends and topics in electronic discovery, security and forensics, consumer electronics and the Internet of Things – before it was even called the Internet of Things. Her work has appeared in Attorney at Law, US Tech, TechnoLawyer, ACEDS and other industry publications.

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customer journey

Growing Focus on Customer Journey
* B2B marketing leaders focus on metrics related to leads, such as pipeline directly attributed to marketing activities (25% use this metric), quality of leads generated (21% use this metric), and number of leads generated (17%).

• B2C marketing leaders place a heavy emphasis
on customer-related metrics, including customer
satisfaction (25%), customer retention rates (21%), and lifetime customer value (20%).
Source: State of Marketing 2015, Salesforce.com

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NYLJ2015

Thank you, New York Law Journal Readers!
Edge Legal Marketing was named a top Law Firm Advertising Agency, and also top in Law Firm Public Relations, in the Reader Rankings for 2015!

See the NYLJ Reader Rankings Report
Read Edge Legal Marketing news release

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