Marketing Management Analytics recently found that just 7% of senior financial execs were satisfied with their company’s ability to measure marketing ROI.
Is it any wonder, considering:
- The CMO Council reports that “the majority of marketers feel that their top goal is to quantify and measure the value of marketing programs and investments.” A “majority” of 44%, that is.
- Chief Marketer publishes an article about winning marketing awards that tells readers that 1% of the entries come in in the first weeks, 65% on the day of the deadline, and 44% the day after the deadline. If only Epsilon gave me 110% of my salary every pay check.
Granted, some of the dissatisfaction on the part of the financial folks stems from their self-perception as the gurus of measurement. But apparently they have an unfair advantage: They use calculators.
Technorati tags: Marketing ROI, Marketing Measurement, Marketing
The in ability to effectively track ROI, Life Time Value often stems from CMO’s failures to institute simple direct response reporting metrics in their marketing. Testing, refining, reporting, and analyzing. Demanding accountability and performance metrics and learning to evaluate every marketing activity can go a long way in marketing measurement.
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-The Marketing Prowess Editorial Team