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Feature Article
(Source:
MyCustomer
)
Measuring your marketing: Metrics for difficult times
The marketing department is often the first to suffer cuts in a recession. But by focusing on measurement and gaining a better working knowledge of metrics, the CIM's Mark Stuart says marketing can prove its contribution - and improve the individual marketer's career.
It's a business cliché to say that what doesn't get measured doesn't get done – and yet many marketers are guilty of ignoring this fundamental principle. The common image amongst the rest of business is that marketers are the creative, arty types who don't get involved with stats and figures, nor are they properly accountable for their expenditure.
A Deloitte survey from 2007, for example, indicated that a third of CFOs do not believe marketing is a key driver of growth in their organisations – an astonishing figure. This preconception is largely untrue but to distance themselves from it, marketers need to prove that they can talk figures with the accounts department and have a financial grasp of the costs, output and value of their contributions to business.
Read the entire
MyCustomer
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