Introduction to Marketing Metrics

Jan 20, 2010

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Learn why you need marketing metrics, which numbers are important, and how to master metrics in this introduction to Marketing Metrics: The Definitive Guide to Measuring Marketing Performance, 2nd Edition.

This chapter is from the book 

Marketing Metrics: The Definitive Guide to Measuring Marketing Performance, 2nd Edition

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In recent years, data-based marketing has swept through the business world. In its wake, measurable performance and accountability have become the keys to marketing success. However, few managers appreciate the range of metrics by which they can evaluate marketing strategies and dynamics. Fewer still understand the pros, cons, and nuances of each.

In this environment, we have come to recognize that marketers, general managers, and business students need a comprehensive, practical reference on the metrics used to judge marketing programs and quantify their results. In this book, we seek to provide that reference. We wish our readers great success with it.

1.1 What Is a Metric?

A metric is a measuring system that quantifies a trend, dynamic, or characteristic.¹ In virtually all disciplines, practitioners use metrics to explain phenomena, diagnose causes, share findings, and project the results of future events. Throughout the worlds of science, business, and government, metrics encourage rigor and objectivity. They make it possible to compare observations across regions and time periods. They facilitate understanding and collaboration.

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