by Jim Lenskold
I have delivered 2-day Marketing ROI Techniques workshops to over 2,900 marketing professionals in 13 countries. The interactive sessions are designed to educate marketing professionals on how to bring marketing ROI principles into campaign strategies, planning and measures while also identifying the challenges and barriers that must be addressed to make improvements.
One might think that the greatest challenges would center on the accessibility of customer and financial information or measurability issues. There were cases where these barriers applied, however the most prevalent and significant barriers stemmed from the corporate culture, mindset and organizational structure. Consider just a few of these types of barriers:
At the same time the workshop participants were identifying challenges, they were also recognizing the significant financial benefits that could be achieved with a more disciplined approach and greater insight into marketing ROI. Companies benefit from the increased understanding of key profit drivers and the framework to guide investments into the right strategies and tactical executions.
Those companies that are investing time, effort and budget into advancing their marketing profitability and focus on the most profitable customers are creating a competitive advantage in an area where precision has great payback. It’s time for executives and marketers to remove the organizational barriers and take some bold moves toward achieve high performance marketing.