marketing key metric engagement

5934 Words24 Pages
August 8, 2007

Marketing’s New Key Metric:
Engagement
by Brian Haven for Marketing Leadership Professionals

Making Leaders Successful Every Day

For Marketing Leadership Professionals

August 8, 2007

Marketing’s New Key Metric: Engagement

Marketers Must Measure Involvement, Interaction, Intimacy, And Influence by Brian Haven with Josh Bernoff and Sarah Glass

EXECUT I V E S U M MA RY
The marketing funnel is a broken metaphor that overlooks the complexity social media introduces into the buying process. As consumers’ trust in traditional media diminishes, marketers need a new approach. We propose a new metric, engagement, that includes four components: involvement, interaction, intimacy, and influence. Each of these
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· The most valuable customer isn’t necessarily someone who buys a lot. In this socially charged era in which peers influence each other as much as companies do, good customers can’t be identified solely by their purchases.1 Companies also need to track individuals who influence others to buy. For example, a customer who buys very little from you but always rates and reviews what she buys can be just as valuable as someone who buys a lot — her reviews might influence 100 other people to buy your product. Tracking only transactions and loyalty at the end of the funnel misses this significant element of influence.

· Traditional media channels are weakening. Marketers continue to use mainstream media

messages to move consumers into a consideration frame of mind. But passive consumption of media is waning. Individuals dismiss or ignore marketing messages in lieu of information available from an ever-increasing number of resources, such as product review sites, message boards, and online video.2

· Consumers force brand transparency. Marketing and public relations teams used to have the

influence to spin a message in their favor when something went wrong. But in these days of snoring cable technicians caught sleeping on a customer’s couch, captured on video, and posted on YouTube or blogs blasting CompUSA for selling an empty box instead of a camera, spin is out of control.3 Online social tools, coupled with increasing social behavior online, make it
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