01 Feb Marketing metrics and Quantum Physics
Albert Einstein famously said that what could be counted doesn’t necessarily count and everything that really counts can not always be counted. This is thought to be as true in physics as in business marketing. While Einstein was clearly talking about relationships in matter how can this then be linked to modern day marketing.
Interestingly enough what is most prevalent in the modern world is that just about anything can be and is accurately counted. Data is often viewed by many experts as the new gold rush with great power in all aspects from politics to business. We can effortlessly keep track of page visits, conversion rates, click-throughs
Using metrics such as those mentioned above businesses have found tricks to employ so as to increase their landing page conversions. However,
The universe through physics tends to tell us to focus on something very different altogether. A good example would be that a particular thing does not have a mass on its own. A thing has mass because of its relationship with other things. With the exception of revenue, there is no reality in most of the metrics that we measure on a daily basis. What could be the absolute value to a page view or click through? nothing, if you really think about it. These metrics are in no way the reality of
What actually matters is what prospects and customers really think of your company. How do they feel about doing business with you? What does truly matter like the basis of a company “brand” but they can never truly be measured directly. The reason why we only know of relations among things rather than the things themselves is probably because relations are all there truly is.
Perhaps the solution lies in emphasizing the relations between metrics rather than focusing on a particular one. For instance, the ratio of marketing qualified leads, sales qualified leads and marketing conversion rates, That will help give insight on the lead quality relative to the lead quantity generated in the campaign.
However, the pursuit of these metrics is still very important. All that has to be done is to focus on the bigger picture, This is the relationships between these metrics