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Guide

How to Measure Growth Marketing ROI Without Vanity Metrics

MP

Matias Pavez

Managing Partner · MindWorks

8 min read

Vanity metrics are comfortable and useless

Sessions, followers and impressions are easy to grow and easy to celebrate. They also do not tell you whether marketing is making money. Measuring growth ROI means connecting the work to pipeline and revenue, not activity.

Metrics that actually matter

  • Pipeline created and influenced by marketing
  • Cost per qualified lead, not cost per click
  • Conversion rate from visit to qualified opportunity
  • Customer acquisition cost and payback period
  • Revenue attributable to each channel over time

Attribution is hard, do it anyway

No attribution model is perfect, especially with long B2B cycles and AI search. The answer is not to give up and count clicks, it is to agree on a model, stay consistent and judge the trend.

A simple operating rhythm

Define the revenue outcome first. Map each growth play to how it should move that outcome. Report on a small set of metrics that ladder up to revenue, review them on a steady cadence, and reallocate toward what compounds. If a metric does not change a decision, stop reporting it.

If a metric does not change a decision, stop reporting it.
MP

Written by

Matias Pavez

Managing Partner

MBA from UC Berkeley Haas. Executive with experience in venture building, operations and growth strategy. He has led teams at BairesDev, SONDA and technology startups, and connects the studio to the innovation ecosystems of Chile and Silicon Valley.

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