“Half the money I spend on advertising is wasted; the trouble is I don’t know which half”.
When John Wannamaker said this over 100 years ago, he had a really good excuse!
In 2017, with all the knowledge and tools at our disposal, there is no excuse. I cannot think of a senior executive team or company board that would be prepared to accept, let alone listen to, ‘alternative facts’ from their head of marketing! (more…)
For far too long the marketing function has danced and side-stepped around the issue of return on investment (ROI) on marketing spend.
A scenario played out countless times over the ages is one of CEOs asking what the ROI on their marketing spend will be and marketers arguing it isn’t an exact science.
“You need to trust us this is working,” is the oft repeated answer.
This needs to end. In fact, CEOs shouldn’t even have the chance to ask what the ROI will be. Marketers should be insisting from the very start they are measured on it and proactively communicate to the business exactly how they are delivering value. (more…)