Marketers are reconsidering what success looks like — both when measuring campaign success and understanding social media impact.
SoundCommerce was quoted in a Business of Fashion article by Alexandra Mondalek on January 7, 2022.
The story offers a comprehensive look into the marketing metrics historically used to gauge success, as well as the potential pitfalls of these stats. It highlights the possibility of exaggerated Facebook advertising reach stats and the unreliability of engagement metrics (such as likes, comments and shares). This article also discusses how businesses are challenged with proving ROI on social media marketing.
Business of Fashion interviews SoundCommerce CEO, Eric Best, on customer lifetime value (CLV) and return on ad spend (ROAS). Eric emphasizes that a clear picture of marketing success must include all data, not just those few marketing metrics.
“The industry talks a lot about … this idea that lifetime value is the new North Star of the DTC commerce industry … but it is often misconstrued as a revenue metric,” Eric says. “In reality, if it’s instrumented right, it needs to account for … all of these things that are really much more complicated profitability concerns.”
Visit Business of Fashion to read Alexandra Mondalek’s full article. Subscription required.