Transcript Stand & Deliver: Accountability in Marketing

Stand up and Deliver.
February 16, 2005
Arlene Dickinson
“I know that half the money
I spend on advertising is wasted.
I just don't know which half."
- Department store magnate
John Wanamaker, circa 1920
“More money is wasted in marketing
than in any other human activity.”
Ries & Trout, The 22 Immutable Laws of Marketing
Accountability Principle #1
Marketing must have a seat at the
executive table.
Accountability Principle #2
Marketing execution must be
creative and informed by market
facts and customer insights.
“Good creative people are junkies - art heads,
addicted to creative expression.
They take jobs in agencies to feed their habit.
They don’t really care about the agency's or the client's business success - though they come to
understand,
in a Pavlovian fashion, that happy clients
give them more creative hits. They're smart, they can act, you'll believe they're fascinated by your
revenue
and margins and sales results. But the moment
you take your eyes off them they're locked in the bathroom with a CA annual, getting buzzed.
You can’t rehabilitate creative people. There's no cure.
Get over it. You need them, they need you.
Feed their habit, every day give them a shot at
a One Show pencil. They’ll be blessed,
you’ll get brilliant work, everybody will go home happy.”
“Marketing is about delivering qualified leads
that are ultimately converted to revenue.
It is about delivering business results,
and as such must be planned and measured rigorously. Traditionally marketing has focussed on
the product itself –
how to develop it, price it, distribute it and promote it.
Today marketing is all about the customer – how she relates
to the product, where and why she buys it and with what expectations. To connect customers to
business results,
we must study their behavior so that we can predict it.
We must understand what will make them buy more
of the product and what will make them switch
to a competitor’s product instead. We must use these insights to qualify every dollar we spend,
then measure the results
of our efforts to make them better and more efficient.”
Magic is created by the friction in these
perspectives.
Accountability Principle #3
Marketers must embrace rigorous
measurement and tracking of
business results.
Prove how marketing is a strategic business
enabler.
Measure what you should,
not just what you can.
Put a stake in the ground and quantify “how
much”
and “by when”.
Measurement should support a culture of
continuous learning.
The role of marketing
is to drive a business result.
Today’s best practices
Creative and Strategic Excellence driving
measurable Business Results
Reporting tools must link
marketing communications to business results.
“Deprived of information
one cannot assume responsibility, but given
the information one cannot avoid responsibility.”
- Eugene Taurman
Thank you
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