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Marketing ROI – Why It’s Increasingly Important – and What To Do

marketing roi

In the past marketing might point to a series of funny TV commercials as a big accomplishment; today the department might celebrate 10,000 likes on Facebook. In either case, CEOs and CFOs are increasingly likely to react: “so what?!” In my conversations with Fortune 500 executives, their expectations of marketing are changing rapidly and forever, and focusing more on this: “what’s my financial return on my marketing investment?”

Master the Measurement of Marketing

Marketing Measurement

Imagine marketing spending $1 trillion per year. For roughly half that spending, the return on investment is often vague at best. For the other half, there’s no measurement of ROI…at all. That $1 trillion is the global annual spend on marketing and advertising. And with global competition heating up, businesses are increasingly looking to ensure every dollar is well spent. $1 trillion is a good place to start.

ROI – The New Boss of Marketing

CMOs believe ROI is the measure of Success

Of perhaps any area in business, changes are coming in marketing – big changes. That’s because unlike most areas of business – from finance to quality control – marketing has been notorious for failing to give hard numbers. But in the era of Big Data, CEOs and C Suite executives are putting more pressure on marketing to answer this simple question: what’s marketing’s contribution to the bottom line?

The Science of Storytelling

Scientist

I attended a great event put on by MITX last week, The Science of Marketing: Using Data & Analytics for Winning. My biggest take-away was that the science means nothing without the art– nothing new in that statement, but I did learn more about why.

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