How can marketers assess their return on investment of marketing expenditures
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How can marketers assess their return on investment of marketing expenditures By Jeet Parekh IIT BHU Measuring the success of your marketing is a vital task. It identifies your return on investment (ROI), showing you what works and, crucially, how worthwhile it has been to spend the money you have. In turn, this helps you develop and refine your marketing strategy. This guide introduces to: Setting objectives Measuring success Techniques to help measure success
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How can marketers assess their return on investment of marketing expenditures
- 1. HOW CAN MARKETERS ASSESS THIER RETURN ON INVESTMENT OF MARKETING EXPENDITURE?
- 2. (AND I’VE HAD MY MOMENTS) THREE WAYS OF MEASURING RETURN OF INVESTMENT
- 6. MARKETING METRICS HAS BEEN PRIOR DISCUSSED AND UNDERSTOOD. LET’S TRY TO UNDERSTAND OTHER TWO
- 8. ANALYSETHEADSWHICHARE NOTGIVINGANYRETURNSAND ATMINIMALCOSTMAXIMUM OUTPUT UNDERSTANDS FROM VARIETY OF DATA
- 9. WHAT IS VALUE CHAIN? enough to learn it INCREMENTAL GROWTH
- 10. CUSTOMER SATISFACTION AND BRAND AWARENESS IS LESS
- 12. Marketing Measurement Pathway Technically Sound but Ad-hoc Efforts Across Multiple Measurement Silos Customer Metrics Unit Metrics Cash-Flow Metrics Brand Metrics Metrics Hierarchy of Effects Products/ Category Sales Program & Company ROI Brand Imagery/ Attributes Satisfaction/ Experience Marketing Cost/ Unit Media Mix Models Equity Drivers Attitude/Behavior Segment Margin Margin Optimization Initiative Portfolio Optimization Technically Sound but Ad-hoc Efforts Across Multiple Measurement Silos Customer Metrics Unit Metrics Cash-Flow Metrics
- 13. CUSTOMER PERFOMANCE SCORECARD TO RECORD HOW WELL THE COMPANY PERFORMED YEAR BY YEAR
- 14. STAKE HOLDER PERFOMANCE SCORE CARD TO TRACK SATISFACTION OF VARIOUS CONSTITUENCIES ATTACHED WITH FIRM
- 16. JEET PAREKH Created by -- Indian Institute of Technology , Banaras Hindu University Varanasi Linkedin :https://in.linkedin.com/pub/jeet-parekh/54/b10/51b During an Internship by -- Prof. Sameer Mathur Indian Institute of Management , Lucknow (www.IIMintenship.com)