Description - Marketing ROI by James Lenskold
Marketing is becoming more challenging and costly with the intense competition and overall clutter in the market. Corporate marketing departments are constantly looking for ways to generate more profits with tighter budgets. As a result of the rapid growth in Internet and Customer Relationship Management (CRM) technologies, there is a greater capability and focus on measuring the Return on Investment (ROI) of marketing activities. There is a new industry evolving that focuses on marketing measurements and the technology needed to capture the business intelligence needed to support these measurements. This book guides marketing practitioners of all levels on using financial tools to support their strategic decision-making and provides a clear outline for how and why ROI should be the central measurement for making marketing decisions. Marketing managers receive minimal training on ROI and many highly skilled marketers still do not use this measurement tool accurately or strategically. New measurements such as Customer Lifetime Value catch the interest of marketers but are limited in maximizing profits.
Accurate marketing measurements are heavily dependent on understanding how ROI works in the marketing environment. The book is divided into three sections. Section 1 clarifies the principles of Return on Investment for marketing managers who need to understand the context of how and why ROI is used in marketing. Section 2 breaksdown down the elements of ROI to build a greater understanding of the data points used within the ROI formula. The "return", which is based in part on Customer Lifetime Value, is covered as well as "investment" which is made up of different levels of marketing expenses. Even financially savvy marketers should learn more on some frequently neglected components of the formula. Section 3 guides each level of management through their responsibilities and provides insight into the decisions that must be made to use marketing ROI effectively. This section also presents advanced concepts for ROI measurements that can be used to more profitably manage investments into marketing at both campaign and corporate levels.
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(234mm x 163mm x 23mm)
Publisher: McGraw-Hill Education - Europe
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Book Reviews - Marketing ROI by James Lenskold
Author Biography - James Lenskold
James Lenskold is principal of Lenskold Marketing Group, a specialist in developing strategic marketing programs and implementation services. A world-renowned speaker and consultant on marketing ROI and multichannel marketing strategies, Lenskold is a former marketing executive with AT&T, where he developed strategies and implemented consumer marketing programs that helped AT&T evolve from a telecommunications monopoly into a respected innovator and competitive marketing organization.