“Understanding where your audience spends their time and what truly drives their decisions is more critical than ever.”
Colleen LonsberryFractional Chief Marketing Officer
In the era of digital transformation, traditional metrics often fall short in painting the full picture of a business’s success. This challenge was highlighted recently in an interview with late-night host Jimmy Fallon who recently celebrated 10 years hosting The Tonight Show. In traditional TV ratings, Jimmy ranks third and you would think he isn’t as successful as his competition. When you look at his phenomenal success on social media channels such as YouTube, Meta, and X, his competition doesn’t even come close. Does this change how you would measure Jimmy’s success? This dichotomy prompts a vital discussion: Are businesses still relying too heavily on conventional, perhaps antiquated, metrics to capture true success?
Peter Drucker’s timeless insight, “What gets measured gets managed,” remains profoundly relevant. Yet, as markets evolve, so too must our metrics. The inclination to stick with familiar, yet possibly outdated metrics is pervasive across industries, often overshadowing more effective contemporary measures. One example that I have experienced recently is many companies’ heavy focus on attendance numbers at events or trade shows. While quantity has its place, the quality of attendees—ensuring they are the right prospects or customers—often yields a more accurate measure of potential success.
Another area ripe for reassessment involves customer interactions. Traditional “form fills” on websites are becoming obsolete as consumers grow more sophisticated and impatient. Tools like 6Sense and Chili Piper are now pivotal, offering deeper insights into who is visiting websites and what content they engage with. This not only prepares sales teams better but ensures interactions with prospects are more meaningful and likely to convert.
Moreover, the advent of generative AI technologies, such as ChatGPT, is radically altering how consumers access information. People increasingly bypass traditional web searches, opting instead for AI summaries based on data scraped from various sites. This shift raises significant questions about the robustness of a company’s online presence and whether it provides critical information that AI can effectively summarize and present.
These examples highlight a broader trend: a persistent hesitancy, sometimes even resistance, among executives to adapt their metrics. Yet, as Steve Jobs wisely noted, “Innovation distinguishes between a leader and a follower.” In today’s rapidly changing environment, clinging to outdated metrics can blind leaders to emerging opportunities and threats.
The lesson is clear. Understanding where your audience spends their time and what truly drives their decisions is more critical than ever. This does not merely apply to digital or social media metrics but extends to every interaction point, digital or otherwise. Metrics that relate directly to strategic goals, such as engagement depth rather than mere visitor numbers, or quality interactions over quantity, will provide more actionable insights.
As we embrace this shift, we must also heed Brent Dykes’ advice that “data without context is meaningless.” This is especially crucial now, as the ways we gather data evolve. For businesses, this means not just collecting data but interpreting it in ways that align with current consumer behaviors and business objectives.
Sheryl Sandberg’s observation that “We cannot change what we are not aware of, and once we are aware, we cannot help but change,” serves as a call to action. It invites businesses to critically evaluate their metrics and adapt them to ensure they remain relevant and effective.
In conclusion, the evolving landscape requires a new approach to measuring success—one that moves beyond traditional frameworks to embrace more nuanced and forward-looking metrics. As leaders, our challenge is to continually assess and refine our measures of success to align with how our markets and modes of interaction evolve.
As a fractional CMO with extensive experience in transforming marketing strategies to meet modern demands, I invite you to explore how Kate Ryan & Company can assist in reassessing your metrics. Whether you need to refine your approach or implement new measurement strategies, our expertise can guide your organization toward more relevant and impactful outcomes. Feel free to reach out and discuss how we can support your journey to truly measure what matters.