Monthly Archives: April 2011

Using Influence as a Marketing Metric to Measure ROI

Marketing ROI can be one of those arbitrary phrases that sometimes has no real meaning. It is kind of like trying to put a finger on what corporate culture means. How does one define it? Measure it?

Does the term only exist so that us marketers could prove our existence… our worth to the rest of the organization? Or does it even matter what the organization feels about marketing; since every other organization in the world seems to have some sort of marketing department? And so, often I would find marketing would mean creating flyers. Or worse, doing support tasks for sales teams.

Due to scenarios such as these, Marketing ROI quickly became the de facto standard for proving the value and worth of certain marketing activities. It became a quantifiable way to prove that what we did as marketers – mattered.

The problem however was that no one really knew what exact numbers and metrics to look at! What’s lacking, even to this day, is a good understanding of what metrics work for a business and what don’t.

Having been in B2B marketing for many years, I have come to understand that some activities can be tangibly measured and some cannot. I also believe that some things do not need to be measured at all.

Einstein knew what he was talking about when he said “Not everything that counts can be counted, and not everything that can be counted counts.”
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The End of Communication As We Know It – part I

Gartner says that in about 5 years, social networking services will replace email as the primary channel for interpersonal communications for 20% of business users.

Well, this has happened across many businesses and brands already. In fact, several large brands already use social networks to communicate with their customers, prospects and partners.

Think Air Canada’s new twist on customer service, Dunkin Donuts taking complaints and Dell computers giving out deals through Twitter. Not to mention the massive number of business and product pages on Facebook and the benefits that brands associate with being a fan of those pages. Theres a lot of communication happening through those. And more importantly, it is a two-way conversation, not just one-way communication like in email.
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Posted in Innovation, Marketing, Media | Tagged , , , , | 7 Comments