Don Shultz had done a review of the book "Profitable Marketing Communications: A Guide to Marketing Return on Investment," – A topic that’s gaining attention among CEOs today. He picks-up 8 tips – 8 investor tips to marketing communications– from the book:
The eight tips are:
- Concentrate on outcomes, not outputs
- Forget consumers, target customers
- Manage your communication investment portfolio
- Differentiate in any way you can
- Engagement and experience as the new 30-second ads
- Apply a "focus investing" approach
- Establish a measurement culture
- Leverage your employee capital
I quite liked two tips here.
- The one on engagement and experience as the new 30 sec ads. This requires a lot of processes and breakdown of silos in the organization. But, it is a critical factor, if marketing has to make business impact.
- Establish a measurement culture is also a great tip as it is a culture often missing among marketing fraternity. It’s always the output that’s the focus. Once the output is complete, one tends to forget to continously measure the business impact across all marketing investments not just TV ads only.