The Four Pillars of Profit Driven Marketing: How to Determine ROI
The economic crisis has put pressure on marketing budgets and managers who need to provide quantifiable results for every dollar spent. Before the economic crisis determining ROI might have been a luxury, but now it is no longer an option. According to Les Moeller, partner at Booz and Co. and co-author of The Four Pillars of Profit Driven Marketing, each year billions of dollars are spent on marketing. However, more often than not, most of this cash disappears into thin air, and marketing executives are left wondering if they got any return on the investments. Moeller argues that until now there has been no proven system for measuring marketing ROI. The Four Pillars is the first book to offer a practical, proven framework that helps marketers capture the metrics essential to determining ROI and use them to develop an overall marketing strategy based on accurate ROI figures. In this podcast Moeller makes the case for ROI and measurement and argues that by successfully integrating analytic firepower, decision support, processes and people development, a company can optimize marketing dollars, better connect with customers and watch returns grow dramatically. He unearths the mystery of marketing ROI and explains how to improve ROI by understanding, classifying and choosing analytics. In addition to analytics, Moeller describes how and why marketers need to put the analytics to work with the right decision-support systems and tools. Moeller also unveils how to establish processes that integrate the analytics and tools into operations and use organizational alignment to assure company-wide acceptance and execution.