Thursday, February 26, 2009

Making sure marketing pays

A lot of what I read about marketing sounds like a lot of baloney. I just can't figure out how a polo sponsorship or a billboard or a storefront on Second Life creates profitable sales - and while marketers can talk a great game, none of them ever seem to have the numbers to prove they actually won it.

That's why I found working with Les Moeller and Ed Landry, partners at Booz & Co., on their book, The Four Pillars of Profit-Driven Marketing: How to Maximize Creativity, Accountability, and ROI (McGraw-Hill), such an enlightening experience. These guys aren't just saying that you should know whether your marketing spend pays off, they show you how to measure marketing ROI and use that knowledge as the basis for enhanced profitability, creativity, and accountability.

The book just came out and here are a few links for more info:

You can read the Introduction and download a chapter at the book's web site. You can also read an excerpt from Chapter 4 in the new issue of strategy+business.

I helped write the book, so I'm biased, but if you're one of the people responsible for allocating or spending marketing dollars or responsible for making sure that those people produce great results, I'd say it's a must read...especially in this economy.

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