As Sylvia Reynolds a CMO of Wells Fargo once said:
“Marketing must be a driver of tangible business results…we must start with the goal in mind and a clear way to measure that goal.”
ROI is important for accountability–besides being able to justify spending and enable us to run the marketing organization more effectively and efficiently, knowing what is and isn’t working helps marketing achieve greater influence and serve in a more strategic role.
Marketing accountability is a broad concept that encompasses marketing measurement and effectiveness, and reflects marketing’s ability to explain the basis for its actions. Accountability has a computational aspect and covers a range of marketing capabilities, processes, and metrics.
Studies by CMO.org and Forbes Insight indicate that the emphasis on marketing accountability will persist into the foreseeable future. Maybe you’re asking yourself what more can I do? As a marketing professional you’re tackling the problem—adding analytical tools and marketing technology.
The best way to approach marketing performance management, accountability, and measurement is to see it as a continuous, repeatable process designed to help you measure, analyze and learn so that you can make more informed decisions and successfully produce more and better predictable business outcomes.
Ready to make your marketing count? Let’s get started!