Measure the ROI of your Marketing - Top Tip No5

Many company leaders remain sceptical of the Return On Investment (ROI) from marketing - and with good reason.


Recent research of B2B marketers found:

• Only 58% work from a marketing plan with predetermined, measurable goals.

• Only 22% measure ROI for most of their marketing communications and 8% confess to measuring none at all.

• 44% couldn't define "good" marketing ROI.

• Just 6% do before-and-after research.

ROI is difficult to measure. To do it you must have a ‘without fail’ accounting process and formal annual review on all marketing activity. Clear and agreed metrics are vital. Benchmark where you are now then set realistic objectives and methods of tracking:

• Specific measurements - percentage of increase - how many - how much.

• Determination of change - awareness – attitudes – propensity to purchase.

• Perceptions - subjective, but if agreed are a valid measurement, to be agreed by consensus and recorded.

• Prevention – the ‘what if we hadn’t’ factor, reviewed retrospectively.

Research need not be cumbersome or expensive to conduct. Key criteria can be researched quickly, doubling as customer service initiative. Establishing a culture of tracking, measurement and evaluation is tougher, but the rewards are organisational accountability for marketing effectiveness.

Good marketing continues to build growth and sales whether it is measured or not. However, only through accountability can value for money be measured.

Want More Information?

Download our unique, free guide: 'Monitoring and Measuring the ROI of Marketing'.