Today the Dutch media announced that one of the largest retail companies of the Netherlands, V&D department stores, has failed to find a partner after filing for bankruptcy. 8000 people will probably lose their jobs and that's a truly sad state of affairs... Unfortunately we've seen many retailers close shop and disappear altogether in the past few years. Brands that were thought to be 'too big to fail', have failed. How come?
Since 1996 I've worked in online communication (marketing, websites, campaigns, social media, business innovation) consulting companies, semi-governmental organizations and so forth. During this period I've seen customers and (therefore) the business landscape change and ... every year it has changed even more and faster. As a consultant, I thought, I should point out these facts to our existing retail clients and to retailers in general. When I did, I was s...
How do you make sure that marketing activities at your organization are purpose driven? One way to check the alignment between marketing operations and goals is to analyze the value derived. Marketing organizations are under more pressure than ever to be more accountable with their marketing spending and close the gaps, enabling better and quicker informed decisions aligned to business outcomes.
The ability to measure and manage marketing ROI is a key part of marketing agenda. They provide powerful insights to support decision making during your strategic and tactical planning to drive better enterprise performance and profitability, giving you more credibility with the CEO and CFO.
Here is a three-step approach to demonstrate the value of marketing to your business:
Understand and manage your marketing ROI drivers
Execute measurements based on outcomes
Adjust your marketing activities based on insights
1. Understand and manage your marketing ROI drivers