Marketing & Advertising ROI – HOW??? December 11, 2008

I just read a great blog entry at Marketing Professionals about Advertising ROI.  I preach to my clients over and over…yes and over again that marketing is cumulative. The human mind is easily manipulated. After being subliminally exposed to “advertising tid bits” over a period of time – a light bulb goes off in the gray matter and Voila! a decision is made. Rarely – unless its a one time sale, or those middle of the night infomercial impulse buys – do people make a decision based on one radio ad, one magazine ad, one bill board view, one email.  Does it happen – of course, but is it common – No.

That all being said – companies should NOT try to determine marketing ROI based on feedback from a single campaign. That is – just because someone didn’t tell you he or she bought your product because they saw your ad in a magazine doesn’t mean the ad in the magazine wasn’t part of their decision.  Marketing ROI should be measured at the end of the year, quarter, month - did sales go up or down?  Were there any other factors that could have affected the sales outcome?  ( biggest competitor went out of business or moved etc) 

Here is how I analyze my marketing efforts for my clients.

1.  I have specific strategies and plans set up at the beginning of the year or campaign

2. I review the plan quarterly and make adjustments

3. I review each and every part of the strategy – branding, advertising (all venues) , PR  – I see if one or more are having issues and fix the issues, I also see if we are getting huge response from one or more modalities and shuffle budgetary monies towards those modalities.  If you are walking down the street and hear people humming your radio ad jingle – HELLO – more radio ads.  You get the drift

4. I’m always looking for new ways to get my clients noticed – social networking, e-newsletters, PR etc

5.  At the end of the period I do an overview and regroup for the next period.

 

Not brain surgery but its tough to convince people that marketing is a revenue source not an expense.

But I try….ohhhhh do I try.