ADOTAS – List marketing lead generation platform Marketfish announced a new conversion tracking feature today that aims to push beyond metrics of opens and click-throughs, and to incorporate metrics around cost per click and cost per open, while also calculating ROI and tracking a campaign’s cost per action. It’s an automated, real-time system designed to lighten the load for marketers, so they don’t have to make such calculations by hand, and to help marketers explain more clearly to non-marketers whether and to what degree their list campaigns are producing the desired effect.
In a phone conversation last week, Marketfish CEO Dave Scott said his own experiences played into the development of this technology. In the boardrooms of other companies he’d worked for, he explained, “they never talked my language. They never asked what the open rate was.” He found himself, he said, using “obscure terms” in order to “prove my value as a CMO.” It’s not an issue unique to his own experiences, or a new issue at all, he explained. “I think it’s historical,” he explained. He referenced the era of Mad Men, when the mentality was, as he put it, “We’re going to spend a million dollars, and the return will be zero — or 100 percent.” Marketfish’s conversion tracker, he explained, is a way of explaining the specifics of what’s working in a campaign, to perhaps avoid a situation where the CMO is accountable simply for the net results at the end of a campaign.
Scott explained that the tracker implements tracking tags within the Marketfish platform, as well as a DoubleClick tag on the web page. A marketer can then, he said, “track the overall value of your campaign through Marketfish. It gives you some real value, immediately.” The ROI calculator is designed to generate an estimated CPA once the marketer has entered his or her expected CPA and CTR, and the DoubleClick partnership offers a way to measure the performance of an email campaign alongside the performance of a display campaign.
As Scott described it, these metrics are intended to translate the marketer’s work into something more broadly understandable, but they also lay out just what stats the rest of the boardroom should be looking at. “Lead gen and email marketing in general should be more accountable,” he said. “Gone are the days you could go in and ask for a $30 million branding budget.”