In this episode, Dale Harrison discusses the concept of 'zombie metrics' and their misleading nature in marketing.
He emphasizes the importance of data literacy for marketers to gain credibility and make informed decisions. The conversation critiques the traditional funnel model, suggesting it is outdated and does not accurately represent the marketing process.
Dale proposes a new way of thinking about marketing metrics, focusing on the impact of brand marketing and the often unreliable nature of intent data.
Enjoy the show!
Our guest:
Dale Harrison
Consultant - Inforda Life Sciences Services
https://www.linkedin.com/in/dalewharrison/
Follow our updates here:
https://www.linkedin.com/company/sleeping-barber/
https://www.sleepingbarber.ca
Get in touch with our hosts:
Marc Binkley: https://www.linkedin.com/in/marcbinkley/
Vassilis Douros: https://www.linkedin.com/in/vassilisdouros/
Chapters
00:00 - Introduction
02:12 - Understanding Zombie Metrics
10:28 - The Importance of Data Literacy in Marketing
12:21 - The Role of Financial Metrics in Marketing
22:04 - The Funnel vs. Gumball Machine Model in Marketing
26:41 - The Evolution of Sales Tactics
29:21 - Understanding Marketing Models and Buyer Behaviour
30:22 - The Role of Memory in Marketing
32:36 - Measuring Marketing Effectiveness
35:29 - The Impact of Brand Marketing
37:51 - The Misconception of Intent in Marketing
45:12 - The Limitations of Intent Data
Takeaways
Zombie metrics can mislead marketers and decision-makers.
Data literacy is essential for credibility in marketing.
The traditional funnel model is outdated and oversimplified.
Marketing should focus on altering future buyer behaviour.
Brand marketing has a lasting impact on consumer memory.
Intent data is often unreliable and can lead to false assumptions.
Marketers need to evaluate the metrics they use critically.
Understanding contribution margin is crucial for marketing effectiveness.
Effective marketing requires a balance of performance and brand strategies.
The cost of acquiring customers is often exaggerated in marketing discussions.
