Why metrics are your strategic advantage

Product marketers are increasingly expected to prove their value not just through creativity and communication, but through data and measurable outcomes. In fact, 88.1% of product marketers diligently track KPIs in their role. 

Reporting and metrics are no longer a side task; they have become a cornerstone of the product marketing role. 

But why is this so? 

Let’s dive into what industry experts say and the real impact of data-driven decisions on product marketing success.

• The important role of metrics
• Defining product marketing’s unique contribution
• How product marketers can showcase their unique impact
• How much influence product marketers have on company KPIs
• Challenges in reporting
• The strategic value of reporting
• Final thoughts

The important role of metrics

Without reporting and metrics, it's nearly impossible to measure success, optimize campaigns, or even demonstrate value to cross-functional teams. Kannan Gophal, a product marketing expert, frames it perfectly: 

"Metrics in product marketing are like our North Star. They help us navigate, refine our strategies, and ensure that we're not just making noise, but making an impact. It’s all about turning data into insights, and insights into action."

This sentiment is echoed by many other professionals, emphasizing that product marketers must be data-driven to ensure their strategies directly align with broader business goals. As Tapan Patel, a Senior Product Marketing Manager, puts it:

"If PMMs are not data-driven, they’re pretty much walking in the dark! If PMMs do not know their OKRs and KPIs, how can they measure success?"

These quotes highlight that product marketing isn't just about launching products; it's about continuously tracking, analyzing, and optimizing every aspect of the marketing process to drive business outcomes.

Defining product marketing's unique contribution

One common misconception is that product marketing is often lumped together with growth or performance marketing. 

However, the reality is that the two functions have distinct roles, and it's critical to measure product marketing’s contribution. Patricia Arancibia, a Product And Solutions Marketing Leader, underscores this:

"It's VERY important to strongly differentiate and separate PMM from growth marketing and establish PMM's contributions in its own terms, not in traditional marketing terms."

Metrics allow product marketers to establish their own value proposition. Reporting on product launches, feature adoptions, customer satisfaction, and revenue impact gives them the tools to justify their efforts and to prove their strategic importance, beyond the immediate click-throughs and conversion rates often emphasized in growth marketing.

How product marketers can showcase their unique impact

Establish clear KPIs

To effectively demonstrate their value, product marketers must establish clear KPIs that focus on long-term business impacts rather than short-term gains. 

Metrics like product adoption rates, customer retention, and influence on win/loss rates can help differentiate their contributions. By using KPIs that tie directly to revenue, customer satisfaction, and product success, PMMs can better communicate their impact.

Build cross-departmental partnerships

Building cross-departmental partnerships is essential for PMMs to showcase how their work drives collaboration and business alignment. 

By working closely with sales, product management, and customer success, product marketers can demonstrate their influence on everything from improving sales effectiveness to shaping the product roadmap.

Regular reporting and increased visibility

Lastly, regular reporting and increased visibility with leadership can help product marketers secure recognition for their strategic value. 

Regular impact reports and executive briefings, along with internal success stories and case studies, provide tangible evidence of their contributions and elevate their position within the organization.

How much influence do product marketers have on company KPIs?

Despite the growing recognition of the importance of data and metrics, not all product marketers feel equally empowered in their roles. 

In the Product Marketing Metrics eBook, we surveyed product marketers and asked them to rate their level of influence over their company’s KPIs on a scale from 0 to 10. 

The results reveal a mixed picture:

• 56.5% feel they have a solid say, rating their influence between 5 and 7.
• 31% feel even more empowered, rating their influence between 8 and 10.
• However, 12.5% rated their input below 5, suggesting a portion of product marketers feel their insights are undervalued or underutilized.

This disparity may indicate that, while some companies effectively integrate PMMs into strategic discussions, others may still silo them from key decisions. Empowering product marketers with more control over KPIs could bridge this gap, leading to more aligned and impactful marketing strategies.

Challenges in reporting

While metrics are essential for guiding product marketing efforts, they also present significant challenges. 

Tracking product marketing’s direct impact on company goals 

Product marketers often face hurdles in tracking and reporting, particularly when it comes to measuring the full impact of their initiatives. These challenges are echoed by several industry professionals, highlighting the complexity of managing and making sense of data.

One common obstacle is tracking the direct impact of product marketing on key business outcomes. Shantanu Sharma, Associate Digital Marketer at Emplay Analytics, shares:

"One of my biggest reporting challenges in product marketing has been tracking the impact of my work on business objectives and revenue. It can be difficult to measure the impact of my efforts and make sure they are aligned with the organization's goals. However, I have found that setting measurable goals and tracking progress has been incredibly helpful in overcoming this challenge."

Lack of resources

Another difficulty product marketers encounter is the struggle for resources, particularly in comparison to demand generation marketing. Melissa Cihla Meyer, Senior Director of Marketing at Cellebrite, explains how product marketing can sometimes take a back seat when it comes to dashboard setup and tracking:

"Product marketing tends to become secondary to demand generation marketing in terms of resources, and getting the tracking and dashboards set up can be challenging. It's important to articulate the value well."

Limited visibility across the funnel

In addition to the resource struggle, there’s also the issue of access to comprehensive metrics. Many PMMs find themselves constrained by limited visibility across the funnel, which hinders their ability to make data-driven decisions. Bhargav Brahmbhatt, Principal PMM at Multiverse, highlights this frustration:

"Not being able to see the flow across the funnel, or not having full access to all the metrics that impact my job, is a common challenge. As metrics become more granular as the business grows, I'm often on the back foot trying to get access to what I need to do my job most effectively."

Overload on data

Kannan Gophal adds another layer to this challenge: data overload. The sheer volume of available metrics can make it overwhelming for product marketers to pinpoint actionable insights:

"In my role, one common challenge I've encountered is deciphering data overload. It's like searching for a needle in a haystack of numbers!"

These challenges underscore the complexity of managing data in product marketing. Whether it’s struggling for resources, lacking access to full-funnel metrics, or wading through an overwhelming amount of data, product marketers must navigate a series of obstacles to unlock the full potential of reporting and metrics.

The strategic value of reporting

Beyond tracking progress, metrics provide product marketers with the leverage they need to contribute meaningfully to business goals. Erin Casto, Product Marketing Manager at OpenMethods, explains how tracking marketing efforts to measurable impacts can solidify the value of PMM across departments:

"Product marketing efforts have a significant impact on revenue, renewals, and expansion deals. Being able to track marketing efforts to measurable impacts helps articulate departmental value and establish cross-departmental partnerships."

Metrics allow PMMs to connect the dots between marketing initiatives and bottom-line results, ensuring that their role is seen as not just supportive, but essential to overall business growth.

Final thoughts

The future of product marketing lies firmly in the ability to measure and report effectively. The growing influence of data in product marketing not only enhances the ability to make informed decisions but also elevates the strategic role of PMMs within organizations. 

As metrics continue to evolve, product marketers will need to balance the complexities of data overload with the precision of actionable insights.

The takeaway is clear: reporting and metrics aren't just tools – they are the very foundation upon which successful product marketing strategies are built.

Want to learn more?

Elevate your product marketing metrics prowess with our Metrics Certified: Masters course. Learn how to navigate complex data landscapes, implement impactful OKRs, and drive consistent growth.