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Freundt Tjark. Marketing Performance
Introduction: Smart Money
1 – Budget sizing: Combine multiple lenses to right-size your marketing budget
Why does budget sizing matter?
How to drive marketing performance with fact-based budget sizing
Create full budget transparency; you will be surprised by what is hidden in the cracks and crevices of your organization
Outside-in: Conduct benchmarking analyses to find out what it takes for your voice to be heard
Inside-out: Clarify your targets and build your budget on the activities required to reach them
Saturation analysis: Review your budget in light of the expected return it will generate
Combine all lenses for a holistic view on budget sizing and submit the result to practical, tactical, and strategic pressure tests
Key takeaways
2 – Allocation: Put your money where your strategy is
Why does budget allocation matter?
How to boost marketing performance with fact-based budgeting
Key takeaways
3 – Insights: Discover what really matters to consumers to sharpen your proposition
Why do insights matter?
How to strengthen your brand with insights
Key takeaways
4 – Storytelling: Take a publisher's mindset and tell stories that cut through the clutter
Why does storytelling matter?
How to drive marketing performance using storytelling
Key takeaways
5 – One currency: Compare apples to apples as you make trade-offs between instruments
Why does one currency matter?
How to drive marketing performance with one currency
Key takeaways
6 – Science: Apply advanced analytics to drive fact-based mix optimization
Why do advanced analytical approaches matter?
How to drive marketing performance with advanced analytics
Key takeaways
7 – Smart activation: Trim the fat off key instruments to drive incremental benefit
Why does smart activation matter?
How to drive marketing performance with de-specification
Key takeaways
8 – Partners: Build performance partnerships with marketing service providers
Why do partners matter?
How to drive marketing performance through service provider management
Key takeaways
9 – IT solutions: Use marketing ROI decision support solutions to transform your company
Why do IT solutions matter?
How to drive marketing performance through IT solutions
Key takeaways
10 – Agility: Infuse your organization with a return on investment mindset
Why does agility matter?
How to boost marketing performance with an agile organization
Key takeaways
Credits
Contributors
Index
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If your marketing department were publicly traded, would you buy a share? If the new campaign were a pay-TV channel, would you subscribe to it? If next year's media plan were a business proposition, would you invest in it? If you hesitate even for a split second – and we would not be surprised – this book is for you. To take its proper place among its fellow functions, marketing needs to evolve from a cost centre to a profit centre. As the CMO, or as an aspiring marketing leader, you don't want to ask the members of the board or the shareholders of your company for budget clearance. You want to present them with an investment opportunity. You don't want your marketing plan to be perceived as a necessary evil, but as a good business proposition. You want marketing to advance the performance of your company in predictable and sustainable ways. You rightfully aspire to generate returns on marketing investment, be it in terms of sales, profit, market share, or brand equity. Make it happen, and you will never have to justify a budgetary line item to the CFO again – or smile and listen patiently as your fellow executives praise a competitor's creative campaign, asking why you never come up with something as clever as that, despite the fortune you are spending on all those hot-shot agencies. Sounds tempting? Then read on.
This is not a textbook for students of marketing theory. There are more than enough of those already. This a performance handbook for marketing practitioners. With trademark clarity, McKinsey's Marvin Bower defined performance as follows: “By performance, I do not mean just profits. Rather, I mean achieving the goals and objectives of any type of organization in an effective and efficient manner, with profits being one measure of the success of a business firm. Responsible decision makers all seek to improve the performance of their organizations.” In this spirit, we aspire to provide marketing executives with hands-on decision support across all major performance levers, from budgeting and mix optimization to vendor management and organization. In contrast, we will not explore the underlying theory in more detail than is necessary for the practical purposes of this book. If you want to know more, please refer to the more comprehensive discussion of many of the concepts presented here in PowerBrands, now in its third edition, and Retail Marketing and Branding, now in its second edition.
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• How will I reach my target group?
• How do I ensure excellence in execution?
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