“However beautiful the strategy, you should occasionally look at the results.” – Winston Churchill
In this instance, we’re going a bit meta, as we’re discussing the strategy for determing which results to look at. Marketing is a science and an art, with the science side of this equation getting a lot of press lately, especially in the area of marketing ops. The primary implication is that marketers will experiment, collect results, analyze those results and then make decisions based on the insights. These data-driven-decisions, or 3D, are the hallmark of a science-based marketing team.
Selecting KPIs is a critical function of leadership
“As marketing leaders, our purpose is to maximize the potential of our teams. The selection of Key Performance & Predictive Indicators (KPIs) directly impacts our fulfillment of that purpose. Done correctly, the right KPIs foster harmony and collaboration. They empower our teams and focus their effort where they have meaningful impact. Misstep here, though, and the wrong KPIs create dissonance and drain creativity out of our teams.” – The Hidden Impact of Poor KPI Selection.
A KPI Roadmap is the strategic roadmap of specific KPIs your team should adopt for data-driven-decision making. It ensures your team is generating the right insights by focusing them on the right measures. It provides the framework for defining process and data structures that support these measures and ultimately generate reliable insights. You can’t lean on the data if you don’t trust your data. This Roadmap guides your analysts in their report selection. Finally, it provides a timeline for when a BI tool will be necessary, reigning in the premature purchase of a shiny new BI system if it’s unwarranted or providing the strategic justification for the acquisition of this tool.
Move it forward
Developing a KPI Roadmap will give your organization the strategy it needs to embrace the science of marketing and thrive in a 3D environment. You can embark on this in sunny Scottsdale Feb 19-21, at B2BMX, where I’m hosting a workshop: Tracking & Optimizing the Right KPIs in 2018 & Beyond. Use Promo Code 25PPEDOWITZGROUP to receive 25% off the pass of your choice. If you can’t make it to Scottsdale, feel free to partner with us on a custom roadmap.