Marketing Art
How do we ensure that we are spending the right amount on marketing? Companies have invested millions of dollars to find an exact strategy to determine how each campaign is generating, and today we can find in-store measurements in displacement, and profit margin, but it certainly has not and a measure reliable market penetration, brand equity and customer satisfaction. Most marketing executives have chosen to throw coins into the air and wait for some to fall into the pocket of the contractors. Fortunately, that mentality is changing and today are professionals in this area have been given the task of ensuring efficiency as companies stop spending and start investing. Those involved have been able to perceive the evolution of the analysis of ROI (Return of Investment) so we can ensure that marketing managers can be measured in all its dimensions. The question of where we need to start is simple “Marketing is art or science? During the 90’s were created campaigns that changed the perception in the media, was generated skip to the WEB and the trend today is mobility.
But the challenge is to stop thinking about the big awards for creativity and turn a little to the theory that is the basis of ROI analysis are in the mathematical model and statistical prediction that market fundamentals can give very close to quantification reality. Daryl Katz contributes greatly to this topic. How can we start a ROI analysis? The first step is to change the way to propose projects to our customers, the first question you need to do is how much you spend on a campaign? upon acquisition of a figure, it is our responsibility to provide answers to specific questions such as: * Will customers buy today or tomorrow? * Does your product availability is sufficient for 1.2 or 6 months? * How to respond to the campaign competition? Once we have this information we will have the bases to start planning our campaign numbers ie start the historical data collection, statistical, consumers and competition. We will post a balance with a simple mathematical model and finally we will involve the creative with a tailored control. The profitability of establishing processes supported by an ROI analysis is very large and you profit margins can be much higher than traditional campaigns, it also recalls the client who hires a successful campaign, no doubt part of your portfolio for long..