Question

Topic: Strategy

Financial Impact Of Marketing

Posted by Anonymous on 125 Points
I know I learned this is in Marketing 101 but have since forgotten the specifics and can't find any useful websites. I need some financial statistics to support the improvement of a marketing campaign. Stuff like XYZ company invested in a complete redesign of their marketing plan and assets and saw a XX% improvement in revenue?

Does anyone know of any good sites that contain this type of data or a summary of provable assertions about the overall benefits of marketing. I have a client who is challenging the concept that improving their marketing materials (print and web) could lead to increased revenues and profits.

Anyone who can help?
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RESPONSES

  • Posted by Blaine Wilkerson on Member
    Here are a few places to start. I tend to agree with sbalch, but click on the links below and search around.

    Javelin

    P2P Consultants

    The Gauge


    Good Luck!
  • Posted on Member
    Chall, I feel for you. The client appears to be one of those types who believes "We build a better mousetrap so the world will beat a path to our doors", to paraphrase Emerson. Wrong, wrong, wrong.

    Can't suggest any sites better than those already suggested. Can suggest that you buy "Ogilvy on Advertising" and "The 22 Immutable Laws of Marketing" and give them to the client (after reading them yourself again), with an appropriate note on why they are must reading to improve the value of his business.

    I'd suggest that the client might respond to the premise that MARKETING is SELLING. That improving the crafts, techniques, and strategies employed to SELL products nearly always improve sales.

    Try to convince him to make a trial run of one aspect of your proposed marketing material change, pointing out that expectations must be suitably reduced because of its limitations and lack of integration to the whole magilla. Measure activity before you start, and activity every day for (as suggested) at least 60 days. If there is measurable improvement, it's time to ask for the whole magilla.

    Remember, you're in sales too. So you've got to do some selling of your ability to get the job done -- what have YOU done for other clients that worked? Finally, if your client isn't interested in selling his products, he doesn't really believe in his product, and you should walk away.
  • Posted on Member
    Hi
    have you had a look at https://www.pimsonline.com/ - their Profit Impact of Marketing Strategy studies should give you principles to work from to help prove your specific case. Try https://www.rab.co.uk/pims/pims_presentation.ppt and < https://www.ashridge.org.uk/web/Ashridge.nsf/w/DirectionsWinter2001/$file/dtonycram.pdf > for case studies.
    Googling for PIMS/ profit impact etc... will turn up more of the same: add your industry sector to the search & see if that helps any.

    hth

    Will Rowan
    https://www.thecustomer.co.uk
  • Posted by ReadCopy on Member
    I generally agree with Davids comments.

    When I do a marketing plan, I always add lots of specific details (objectives, media, message, cost per 'eyeball', number of sales leads, number of sales), so that at the end of it I can churn out an individual ROI for each campaign and an overall ROI.

    This also helps for that time in the year when the marketing budget is under threat of been cut ... you can simply show the impact on an individual campaign and overall marketing effort.
  • Posted by Blaine Wilkerson on Member
    I too agree with Daivd's advice. It is ineresting and may prove to be a valuable way to look at it from a different direction!

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