As companies face pressure to increase margins, demands to improve marketing effectiveness will continue to mount. Given the high proportion of revenues in areas managed by Marketing, CMO’s are placed squarely in the cross hairs of the corporate agenda, managing the fine balance between brand and marketing investment and operational efficiency.
TopRight’s Marketing Spend Effectiveness is designed to optimize such marketing spend. It quickly identifies poor performing marketing segments and facilitates necessary shifts in programs and spend allocations to hight ROI marketing components.
Our unique approach combines:
- Identifying specific market drivers that create a sales lift by category, product or service.
- Providing the sales to investment ratios for each marketing medium and by unit type.
- Testing different marketing spend allocation scenarios (by media type and market) to determine the biggest impact on sales and revenue
Linking marketing to financial performance is not now-nor has ever been-solely about ROI. Quantifying the return achieved by marketing activities is a necessary step in the process of connecting marketing to finance, but is not, itself sufficient for understanding how marketing helps to achieve business objectives or how its contribution can be improved.
TopRight’s Marketing Spend Effectiveness capabilities are critical in understanding and measuring the impact of campaign spending on growth and profitability. Through these tools we build organizational understanding, acceptance and behaviors that promote the importance of marketing analytics and performance against budgets.
Let us know how we can help and as always stay #TopRight.