By Michael Dunn
Making dependable advertising and marketing judgements to enhance the potency of spendingIn this functional consultant, Prophet CEO Michael Dunn groups up with advertising and marketing effectiveness professional Chris Halsall to assist advertising managers and CMOs make larger advertising spending judgements and higher review the luck or failure of those judgements. They express the way to kind throughout the muddle of metrics, size, and analytic recommendations, and supply the sensible info had to support determine the promoting responsibility imperative--highlighting the serious desire for more desirable stewardship of promoting spending.
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Additional info for The Marketing Accountability Imperative: Driving Superior Returns on Marketing Investments
How can any marketers expect better-than-category-average returns if they are not willing to step away from category norms and do what is needed for their unique brand? The disconnect between marketers’ beliefs and actions: Our 2007 senior marketer survey showed that B2B companies believe that public relations is the most effective activity for long-term brand building and the third most effective at driving short-term sales (after field sales activities and outbound marketing). No form of advertising came close to PR in its perceived long- or short-term effectiveness.
The ability to leverage your equity into new margin pools—customer permission to extend your brand into contiguous categories and beyond 5. The freedom to reject less attractive customers—or at least price them according to their real value (net of the cost to serve them) 6. Greater influence over intermediaries—who must offer you their customers and collaborate with your strategies to be successful 7. The ability to win the war for talent—attracting a stronger cadre of staff, who will in turn create superior value for the company 8.
The best time to capture data on a large number of companies reducing their marketing spending levels is during a recession, when many companies cut their marketing budgets to make up for falling revenues.