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5 Steps to Improved Marketing Effectiveness and Accountability
A 5–Step Process
1. Getting non-marketing
executive management
buy-in
2. Developing initial business
question definition and
refinement
3. Building a marketing data
infrastructure
4. Determining analytics
methods
5. Executing, learning,
iterating & improving
1. Getting non-marketing
executive management to buy-in
Marketers must educate their compatriots about how
consumers act and respond to marketing
1. Getting non-marketing
executive management to buy-in
Marketers must educate their compatriots about how
consumers act and respond to marketing
Demonstrate that it is a science that can
be measured with reasonable accuracy
1. Getting non-marketing
executive management to buy-in
Marketers must educate their compatriots about how
consumers act and respond to marketing
Reasonable cost that yields significantly better decision
making delivering higher revenue, profit, brand and share
Demonstrate that it is a science that can
be measured with reasonable accuracy
2. Initial Business question
definition and refinement Marketers must align their activities to
corporate objectives. These could
include:
Launching new international offices and
operations
Launching new brands
Developing 5% more profit growth
Defending against a competitive threat
Improve the effectiveness of brand
activities
2. Initial Business question
definition and refinement Marketers must align their activities to
corporate objectives. These could
include:
Launching new international offices and
operations
Launching new brands
Developing 5% more profit growth
Defending against a competitive threat
Improve the effectiveness of brand
activities
Develop specific infrastructure
requirements as to how to prioritize:
Marketing Activities
Metrics & Analytics Methods
3. Building a marketing data
infrastructure Develop data structures and data
collection methods & workflows
Align data collection with what drives
consumer purchase decision-making
Manage cost, accuracy, and timeline
issues
4. Analytics Methods
Marketing investment efficiency
Last touch attribution
Experimental design
Look-Alike & propensity modeling
Predictive modeling
Marketing mix modeling
Agent-based modeling & simulation
Consumer choice modeling
5. Execute Learning & Iteration
Results must be tracked and new
insights gathered
Results factored into next planning
cycle
What is the ROI of ROI?
Did the measurement investment
pay off and by how much?
What data is needed to deliver even
better marketing success
ProRelevant.com
Guy R. Powell
Thank you
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