A Guide to Marketing Effectiveness
At The Magnus Club we help our clients achieve greater success through effective marketing. We spend a lot of time debating, challenging and testing marketing effectiveness methodologies. And we read. A lot.
But with so many different theories and insights out there, it can be an overwhelming subject. So we’ve pulled together the best of the best into one easy read, with tangible actions to get you moving in the right direction. Whether you’re a marketing leader or a senior executive that realises that marketing can contribute powerfully to the growth of your organisation, this guide will give you the tools you need to make a significant difference to you and your organisation.
A Guide To Marketing Effectiveness
Measurement and marketing effectiveness go hand in hand.
Shifting category conventions, changing customer behaviours and threats of disruptive competitors place increasing pressures on organisations to get the most out of their marketing department. But these disruptions have created an environment that focuses on immediate and short-term strategies to meet growth targets, skewing the presentation and interpretation of performance data.
Measuring and defining the value of marketing isn’t easy and will require a shift in mindset, but for marketing to truly achieve its potential there must be a robust way to demonstrate impact.
Marketing effectiveness is the strategic ROI methodology used to best understand the impact and performance of marketing.
In our report, we explore the conventional wisdom that has created the framework for measuring and defining marketing effectiveness, and seek to explore ways organisations can use a balanced approach of short-term and long-term planning to achieve equilibrium. And we will uncover crucial metrics that should be used to judge marketing effectiveness to influence sustainable long-term growth.
We will show that:
- It is essential to create a shared vision for what effectiveness is and how it can be measured.
- Specific effectiveness measures you should implement are: brand effectiveness, Cost Per Acquisition (CPA), Customer Lifetime Value (CLTV) and Customer Retention.
- Understanding how marketing is contributing to organisational growth requires investment – in people, processes and technology.
- The emphasis on short-term results has skewed marketing effectiveness and decreased organisational growth over the long-term.
- The B2B Effectiveness Ladder is a good barometer to measure marketings output.
- Organisations that significantly outperform the market invest heavily in brand.
- To operate at peak performance, marketing needs to be both efficient and effective.
- Tapping into effectiveness starts with understanding where you are now and what the current role of marketing is to best inform organisational changes.