In today's digital landscape, businesses are inundated with data points, from fluctuating LinkedIn metrics to the elusive nature of Inbound marketing relationships. These traditional metrics often fail to capture the true value created through less tangible means. For instance, while LinkedIn views and likes can be tracked, the actual impact of these interactions on building trust and relationships remains unquantifiable. Similarly, at Inbound events, meaningful connections often form outside the formal agenda, leading to opportunities that metrics simply can't capture.
This discrepancy between what is measured and what truly creates value is known as the Measurement Trap. The Value-First Measurement Manifesto offers a transformative approach, advocating for a shift from purely quantitative metrics to a more holistic understanding of value creation. Principle Three of this manifesto, "Creating Space for the Unmeasurable," challenges us to rethink our reliance on traditional metrics and embrace the qualitative aspects that genuinely drive business success.
Creating space for the unmeasurable means recognizing that not all valuable business activities can be quantified. It's about valuing qualitative insights alongside quantitative data. This principle encourages businesses to include narrative and observational data in their decision-making processes. By doing so, organizations can better understand the true impact of their efforts, even when these impacts don't fit neatly into standard measurement frameworks.
Consider the fluctuating nature of LinkedIn metrics. A post might receive varying levels of engagement, but the real value often lies in the unseen interactions. People might not always engage directly with posts, but they remember the content and the person behind it. This "invisible" engagement can lead to future opportunities, as seen when practitioners share past content in Slack channels or mention it in conversations.
Similarly, Inbound relationships often form through spontaneous interactions rather than structured sessions. These unmeasurable connections can lead to significant business opportunities, underscoring the importance of embracing activities that might not show immediate, quantifiable results.
The Capability Growth Question: Regularly ask your team and customers, "How much more capable are you now than when you started?" This question shifts the focus from immediate metrics to long-term value creation.
The "So What?" Test: For every metric you track, ask "So what?" This helps determine whether the metric truly matters or if it's just a vanity metric.
Unexpected Discovery Reporting: Encourage your team to report unexpected discoveries that don't fit into traditional metrics. These insights can reveal hidden value and opportunities.
Qualitative Insight Sessions: Create regular sessions where customer-facing teams share contextual understanding about customer challenges, aspirations, and relationship dynamics that don't appear in measurement systems.
Narrative Data Integration: Incorporate narrative data into your decision-making processes. This can include customer stories, employee experiences, and other qualitative insights that provide a fuller picture of value creation.
AI has the potential to revolutionize how we measure value by capturing previously unmeasurable aspects such as conversation quality, capability building, and relationship depth. By analyzing patterns in narrative data and detecting subtle signals, AI can provide insights that go beyond traditional metrics. This enables businesses to understand the real impact of their efforts and make more informed decisions.
The principles discussed are not just theoretical; they have practical applications. For instance, Inbound conversations with "non-engaged" followers often lead to unexpected opportunities. Maggie Philbin's product feedback loops highlight how listening to customer stories can drive meaningful improvements. Similarly, manufacturing experts who share their knowledge on platforms like LinkedIn often find that their visibility leads to new business relationships, even if the direct metrics don't show it.
To truly embrace this approach, we invite you to participate in a community challenge. Ask five of your customers, "How much more capable are you now than when you started?" Share their responses and any insights you gain in the Value-First Measurement series on LinkedIn Live (Mondays 11:30am CT). By sharing your experiences, we can collectively learn and refine our understanding of value-first metrics.
Embracing the unmeasurable aspects of marketing metrics requires a fundamental shift in how we think about value. By integrating qualitative insights, leveraging AI, and participating in community challenges, we can move towards a more holistic and impactful approach to measurement. Join us on this transformative journey and share your experiences in the Value-First Measurement community.