Measurable, reliable, quantitative data is constantly being sought after by marketers. In comparison to relatively more concrete elements of a business, such as finance and operations, marketers often feel pressure, whether real or perceived, to provide some sort of measurable return on investment for their efforts. Sure, your new website design looks great, but has it directly contributed to increased online sales? Unfortunately, for many marketing efforts, it can be difficult to convincingly tie a dollar spent on marketing to dollars earned in new business.
This pressure is evaluated in a Harvard Business Review article by Eric Ries called “Entrepreneurs: Beware of Vanity Metrics.” Vanity metrics, Ries explains, (more…)
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