Advertising is no longer a black hole of spending that may deliver results, or maybe not. ROI-driven advertising is a standard that should apply to virtually any brand, and the key is analytics.
It's not all too difficult to find new insights in the search for improved marketing effectiveness and efficiency. There is still quite a bit of wasteful spending going on, and the dynamic marketplace tends to ensure the continuation of that opportunity. The hard part, though, is translating those insight opportunities into actions that companies (read: people) can actually implement. Tricky. And if that wasn't difficult enough, we're all often challenged to do it with toothpicks, a roll-on antiperspirant, and a pack of bubble gum. Who am I, MacGyver?
A marketer who recently implemented marketing attribution in his organization asked me an interesting hypothetical question: "If we don't see a huge difference between the last-click-based metrics and attribution-based metrics of our campaigns, can we assume that our organization does not require attribution-based measurements?"
Like brand equity, corporate reputation is an intangible asset that has some very tangible ramifications. So how do you measure the payback on the next investment you might make in seeking to enhance that reputation? Start by developing clear ideas of who you're trying to influence and what you're specifically trying to accomplish before you begin.