In today’s world, Marketers need objective and quantifiable measurements of their efforts and programs.
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In recent years, there has been an increasing need for marketing departments to demonstrate a quantitative ROI for the marketing function, improve results, and reduce costs.
However, many marketers tell us that they struggle with determining how to demonstrate quantitatively that initiatives are actually profitable. They suspect that some of these initiatives, while popular with some internal stakeholders, are not improving the organization's bottom line.
Conversely, some marketing initiatives are almost certainly profitable, but they are still vulnerable to budget cuts if there is not certainty or confidence that they are profitable. Perhaps they are redundant or only effective in certain segments of the business, geographic areas, or distribution channels.
This is why CMOs and marketers often need guidance in identifying KPIs.
When we work with organizations on KPI design and development, we:
However, many marketers tell us that they struggle with determining how to demonstrate quantitatively that initiatives are actually profitable. They suspect that some of these initiatives, while popular with some internal stakeholders, are not improving the organization's bottom line.
Conversely, some marketing initiatives are almost certainly profitable, but they are still vulnerable to budget cuts if there is not certainty or confidence that they are profitable. Perhaps they are redundant or only effective in certain segments of the business, geographic areas, or distribution channels.
This is why CMOs and marketers often need guidance in identifying KPIs.
When we work with organizations on KPI design and development, we:
- ensure KPIs address key performance questions,
- use tools that clearly communicate their significance to internal stakeholders,
- guide organizations to deliver these indicators in a timely manner,
- empower strategic budget allocations that support business goals.
