In a recent post we discussed the 'mental skills' you need to achieve marketing performance excellence, while MPM is a mind-set, it also entails a skill set. 

The Value Creators earn the “A grade” in part because of skills: they have more mastery of the MPM discipline.  

Consider the skills differences between the three personas for these key dimensions: using analytics to improve effectiveness, using data to link marketing activity to business outcomes, and selecting metrics that measure Marketing’s value, and analyzing data.

We all know that Marketing is deluged with data.  One goal of this ongoing study is to learn whether the Value Creators do anything differently in regards to data and metrics management.  The short answer �" yes. This elite group of marketers consistently create and use three tools:

• Data Inventory �" describes the format, location and source of marketing and sales data, and how the data is accessed and updated.
• Metrics Catalog �" defines each metric tracked by Marketing and the exact algorithm used to calculate it.
• Data/Metrics Chains �" illustrates the sequence and relationship of metrics that form links between activity, output, operational and outcome metrics.

We discovered that when organizations employ these three tools�" Data Inventory, Metrics Catalog and Data Chains �" they achieve a level of MPM maturity that helps ensure their metrics development process is sound, enabling greater success in their pursuit of MPM. 

In fact, the study revealed there is a strong relationship between the use of these marketing data management tools and the grade earned.

In the sample of survey respondents using any of these approaches, the percentage of Value Creators in that sample is almost half, twice the average for the full survey sample. 

On the other hand, in the sample of survey respondents NOT using any one of these approaches, the percentage of Value Creators in that sample falls to 14 percent or less.

The bottom line:  the use of any one or all of these data and metrics management tools is an excellent indicator of MPM performance and a skill that will help you join the ranks of the best-in-class marketers, the Value Creators. 

Do you want to gain more useful insights into what the Value Creators do better and differently and learn more about how you can become one of them? Take a closer look at our MPM Report.