By Jonathan Knowles
Marketers have a dangerous habit of confusing measurement with accountability. We assume that every request for the justification of marketing investment needs to be answered in terms of ROI.
In my experience, the issue of marketing accountability revolves around three issues:
- Relevance: explaining where and how marketing adds value to the business
- Alignment: proving that marketers are focused on the success of the business, not just the size of their budget or health of the brand
- Rigor: developing a fact-based, disciplined approach to marketing strategy and execution (to include relevant forms of measurement)
Until marketers demonstrate these qualities, their colleagues in Finance will continue to ask the ROI question (which is their way of asking “can I trust you to spend the company’s money wisely?”). Once marketers demonstrate these qualities, the requests for ROI tend to disappear.
Jonathan Knowles is the CEO of Type 2 Consulting and author of “Vulcans, Earthlings and Marketing ROI”.
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