The Marketing Accountability ImperativeDriving Superior Returns on Marketing Investments
Making accountable marketing decisions to improve the efficiency of spending In this practical guide, Prophet CEO Michael Dunn teams up with marketing effectiveness expert Chris Halsall to help marketing managers and CMOs make better marketing spending decisions and better evaluate the success or failure of these decisions. They show how to sort through the clutter of metrics, measurement, and analytic options, and provide the practical information needed to help establish the marketing accountability imperative--highlighting the critical need for more effective stewardship of marketing spending.
Acknowledgments. Introduction. PART ONE: UNTYING THE GORDIAN KNOT OF MARKETING INVESTMENT EXCELLENCE. 1. The Marketing Accountability Imperative: Understanding the Marketing Accountability Gap and Beginning the Journey to Close It. 2. Recalibrating Basic Beliefs About Marketing Spending: When Marketing Can Create Accretive Value and When It Is the Wrong Tool for the Wrong Problem. 3. The Core Principles of Marketing Accountability: Describing the Critical Competencies and Value Levers That Enable Accountable Marketing Investment. PART TWO: DRIVING MATERIAL PERFORMANCE IMPROVEMENTS ACROSS THE SIX VALUE LEVERS OF MARKETING ACCOUNTABILITY. 4. Strategy and Content: Enabling Purposeful Strategic Decision Making and Creating Engaging, Compelling Content. 5. Marketing Vehicles and Investment Levels: Selecting Which Marketing Vehicles to Deploy and How Much Investment Gets Put Behind Each. 6. In-Market Execution and Fixed Cost Management: Ensuring High-Quality In-Market Execution and Consistently Strong Leverage from Your Fixed Cost Basis. PART THREE: PUTTING THE CORE PRINCIPLES OF MARKETING ACCOUNTABILITY TO WORK INSIDE YOUR ORGANIZATION. 7. Laying the Tactical Groundwork for Long-Term Marketing Improvement: Planning for Your Journey Through the Three Horizons of Marketing Accountability. 8. Horizon One: Identifying Your Marketing Accountability Improvement Opportunities: Designing a Fit-for-Purpose Marketing Accountability Diagnostic. 9. Horizon Two: Employing a Test-and-Learn Approach to Drive Continuous Improvement: Systematically Eliminating the Unknown and Improving Returns. 10. Horizon Three: Sustaining and Accelerating Marketing Accountability Impact: Building Sustainable Competitive Advantage via Deeper Capabilities, Faster Processes, and More Intelligent Brand Equity Development. Notes. Bibliography. The Authors. Index.
"In The Marketing Accountability Imperative…consultants Michael Dunn and Chris Halsall explains how to gain better returns on your marketing expenditures." —Globe and Mail, April 10, 2009
Michael Dunn is CEO and chairman of Prophet and is responsible for overseeing the firm's strategy, client relationships, and people. He is the co-author (with Scott Davis) of Building the Brand-Driven Business from Jossey-Bass. Chris Halsall, former Prophet and McKinsey consultant, works and lives in New York City.
Today's thorny marketing environment is characterized by media choice proliferation, audience fragmentation, marketing stagflation, and a daunting measurability divide. All of which has only exacerbated the age-old question—which, if any, of our marketing investments are contributing to long-term profitable growth? The Marketing Accountability Imperative offers a hands-on guide for CEOs, CFOs, and marketing executives who must grapple with these complexities. Written by Michael Dunn and Chris Halsall, this groundbreaking book establishes the imperative for effective stewardship of marketing spending and the significant prize that awaits marketers and firms who pursue greater accountability. The book identifies critical factors that define a program of effective marketing accountability and shows how to sort through the clutter of metrics, measurement, and analytic options. As the authors explain, recent technology and analytic advances have made it more practical to use a combination of historical modeling and go-forward experimentation to build an effective set of measurements that capture both the short-term sales response and the medium-term brand equity impact of any given investment. But whereas most discussions have stopped at the issue of measurement, the authors push on to focus on the ultimate prize—how to apply the insights from more holistic measurement systems to drive better continuous decision making and improved in-market performance across the marketing value chain. They highlight how decisions made at each critical value lever—from strategy and content to marketing vehicles and investment levels—either enable or impede efficient and effective marketing deployment. They describe the virtuous cycle that results from the situation where insightful analytics drives great strategy that informs inspired creative development and efficient in-market execution. Step by step, the authors offer practical guidance on how to move your organization through the three horizons of marketing accountability improvement. In addition, the book includes a wealth of charts, frameworks, and data that will help you diagnose and plan a long-term marketing accountability program. Written for marketers and nonmarketers alike, The Marketing Accountability Imperative is filled with the tools needed to build a sustainable marketing accountability program—right now!
Praise for The Marketing Accountability Imperative "An informative read for anyone interested in the underpinnings of smart marketing. The Marketing Accountability Imperative is a comprehensive and real-life guide to connecting marketing to business performance." —Frits van Paasschen, CEO, Starwood Hotels "Dunn's fresh take on one of the oldest dilemmas in marketing is a fantastic learning tool and a must-read for any CEO or board putting marketing capabilities at the center of a broader transformation agenda." —Cameron O'Reilly, CEO, Landis and Gyr, and CEO, APN Media Group (Australia) "This book provides actionable guidance on how to optimize the effectiveness of your marketing investments. The roadmap to get there is both strategic and practical." —David Wichmann, president, UnitedHealthcare "Any book that sources inspiration from the likes of Oscar Wilde and Mae West right next to the likes of A.G. Lafley and Larry Bossidy intimately understands the twenty-first century CMO's condition. It is a must-read." —Cathy Halligan, CMO, Walmart.com "Provides a framework to help close the divide between finance, marketing, and the executive suite around the role of marketing investments in driving business growth. No matter which side of that table you are sitting on, make time for this book." —Paul Ballew, executive vice president, Nationwide Insurance, formerly of General Motors Corp. "This book brings a fresh, insightful, and practical perspective to the age-old challenge of measuring marketing impact." —Denice Torres, vice president, ETHICON, a Johnson & Johnson Company "Dealing equally with the 'art' and 'science' of marketing measurement, the authors provide today's marketer with a practical roadmap for navigating the ever-more complicated path towards marketing accountability." —Sean Burke, CMO, GE Healthcare
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