• CMO Magazine, Friday, December 9, 2005 12:15 PM

Marketers need to revise the way they create their “brand scorecards” so that their chief financial officers can understand them and realize the true value of marketing expenditures.  That’s one of the key messages in Marketing by the Dashboard Light--How to Get More Insight, Foresight, and Accountability from Your Marketing Investments by Patrick LaPointe, managing partner of marketing consultancy MarketingNPV in Princeton, N.J.  In this excerpt from his book, LaPointe argues that the problem with current brand scorecards is that not enough marketers utilize them and when they do, they don’t take them far enough. The traditional scorecard model addresses issues like awareness and preference but “never actually connects awareness or preferences to value creation, and as such is seen by the CFO and the rest of the finance department as ‘marketing mumbo jumbo’ used to justify spending money.”

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