I have just come back from Sydney where I was attending the NINEMSN digital summit. Interesting stuff. One thing I did take note of was the many conversations around measurability of media spend. Sure we have all talked about it before, but this time it seemed different.
This is something that I have been thinking of a lot lately given I have begun to reduce my media and agency spend, but still want the same, if not more. I cannot, any longer, approve large media buys without solid quantification.
I am very aware now that marketing is becoming more strategic to our organization. First and foremost I am being asked to improve revenue generation, decrease costs and reduce marketing waste.
I read recently that by 2012, the role of the CMO will shift from one of creative brand builders to one of accountable, business oriented strategic managers with customer loyalty as their main focus.
I have more meetings these days with the CFO than I do with any other “C” in the company.
Very different from a couple of years ago.
Saturday, October 27, 2007
Measurement
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2 comments:
This is interesting and should be important to all marketers. Marketing had been viewed as a cost, that requires justification. Can that be turned around so its marketing as a revenue source in itself? Not just justifying the cost, but contributing to the profit. More than just semantics, this mindset I think would create a very different output from the marketing group.
Wait until you have to benchmark your results:
I've written a little about this before:
http://marcus-brown.blogspot.com/2007/05/creative-process-outsourcing.html
M.
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