Question

Topic: Research/Metrics

Will Financial Crisis Boost Implementation Of Mpm?

Posted by Anonymous on 125 Points
just as a markering pro I am interested in the answer to:
Will the financial crisis boost the implementation of marketing accountability?

To my oppinion MPM still has more opponents than supporters. I guess the crisis will make companies cut their budgets, starting with the marketing budget. However we also need to get in (more) business, so my hopes are that companies start or improve the accountability of marketing. That will realy save money and still bring in the business.

What's on your mind while thinking about the financial crisis and an increasing need for effective and efficient marketing activities?
To continue reading this question and the solution, sign up ... it's free!

RESPONSES

  • Posted by Dawson on Accepted
    In my opinion, MRM will benefit as long as it is "internalisable" - i.e. companies can actually make use of the benefits themselves. During times like these, I see "optional" costs as very difficult to sell. During the last recession, I saw many companies operate a "no consultants" policy. MRM offers the possibility of improvement without consultants but implementation costs are a barrier.

    One other key topic is risk - namely what is the relative risk inherent in various proposed marketing plans. I think this is a key area for exploration if marketing accountability is to take off.
  • Posted on Accepted
    For a flip side to Dawson's point above (risk inherent in various proposed marketing plans) - there is also the risk in the budget cuts you've mentioned in your initial post and therefore the risk in NOT executing marketing plans. Many companies do make cuts in marketing, but that leaves open the opportunity for others to take advantage of these cuts (e.g., negotiating better rates with various media, potentially increasing their share of market).

    I do think that this current economy offers a lot of opportunities for MPM - hopefully, organizations will learn that they should ALWAYS be tracking and continuously measuring - not just when resources become scarce.
  • Posted on Author
    Thank you for taking the time to share your thoughts on this issue.

    Greetings from Holland

Post a Comment