By Richard Rosen
Supplying a typical language, higher approaches, and a collection of sensible instruments, Convergence advertising and marketing is a real-world consultant that effectively combines the simplest of brand name and direct into whatever extra robust and potent than both could be by itself. Convergence advertising bargains the type of real-time responsibility that positions advertising and marketing as a necessary and powerful part of leadership's total company technique. Convergence brings model and direct including admire to either disciplines, in the related silos. And it deals the required instruments and tactics that convey greater effects. Our worldwide industry calls for not anything below this totally built-in method. Convergence advertising is the most important to moving advertising communications efforts from a cost-based to a profit-driven version and may have your CFO begging you to spend more cash.
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Additional resources for Convergence Marketing: Combining Brand and Direct Marketing for Unprecedented Profits
Let’s focus on the expenditures of marketing and advertising programs across the enterprise. We need to look at the current setup so we can see how these programs may need to be reconﬁgured to help you gain market share. You need to be able to present your ideas to a CFO in the language he understands. Convergence uses ﬁnance to determine the appropriate investment spend as well as the expected value of the individual. We use differential accounting, the process of burdening only the direct 28 Convergence cost of goods sold and overhead, as a new source of funds to invest in future marketing and advertising.
It never used to be so tough, but we have entered the Age of Accountability. It’s “post-Enron” behavior. Ever since the Sarbanes-Oxley Act of 2002, your CFO is demanding accountability throughout the organization, and that includes every dollar spent on advertising and marketing—and it’s a pain. The good news is, if you use this new methodology and the ﬁnancial tools in the upcoming chapters, you could be the rock star who turns your marketing and advertising departments into a proﬁt center rather than a line-item expense.
So it is at V5, the middle of the scale, where we will create more interaction with the individual while showing equal respect for the brand. The Visual Manifestation of the Goal One of the things I love most about the scale is that it is the visual manifestation of the goal of the communication. Everyone, from marketing and advertising to sales, IT, and ﬁnance can see it, and, therefore, it provides a basis for our common language. Everyone understands the intention and goal of the communication.