Profitable Marketing Communications
A Guide to Marketing Return on Investment
By: Antony Young & Lucy Aitken
Published: May 1, 2007
ISBN: 9780749449421
Format: Hardcover, 212pp
Publisher: Kogan Page Ltd
Marketing is often considered an unnecessary cost, and it's up to marketers to demonstrate to cost conscious CEOs that marketing is an investment, writes co-authors Antony Young and Lucy Aitken in their book Profitable Marketing Communications: A Guide to Marketing Return on Investment. Marketing has to provide a measurable return on investment, to maintain its place in the corporate spending plans, or face being the first victim of spending cuts. The book outlines how to create practical metrics for maximizing marketing profitability for business.
The authors consider marketing outcomes to be measurable and their value to a company's bottom line is demonstrable. In order to achieve the potential return on investment that marketing can provide a change in organizational culture must take place. A company that recognizes marketing is an investment, with its own set of tracking metrics, must also view customers in an entirely new way. No longer is it sufficient to broadcast a message to all consumers. Instead, the modern consumer must be targeted with an engaging conversation.
Antony Young (photo left) provide the outline for creating useful metrics for calculating the value of improved marketing communications. Once the ability and discipline to measure outcomes are developed, the opportunity to differentiate between successful and less valuable marketing campaigns is in place. Positive marketing outcomes will create an outcomes based company culture.
Differentiation from competing products and services, and the ability to create brand loyalty with customers, are traceable with the right metrics in place. An investment approach to customer engagement and a focus on tracking outcome results, writs Antony Young, will enhance the company bottom line. Involved customers will appreciate the more personalized and engaging marketing approach. Enhanced brand loyalty is one measurable outcome of stronger customer loyalty.
For me, the power of the book is the practical approach to measuring the effectiveness of a marketing campaign. By considering money spent on marketing as an investment, whose ROI can be tracked through the application of the appropriate metrics, Antony Young has written a groundbreaking book. No longer must management be satisfied with muddling through with their marketing expenditures and campaigns. From the moment of inception, through the communication with the customer, to the ultimate purchase and long term relationship, the entire process and outcome can be measured for effectiveness.
I highly recommend Profitable Marketing Communications: A Guide to Marketing Return on Investment by Antony Young & Lucy Aitken for its step by step approach, to developing the appropriate metrics, for realizing the actual return on investment of any marketing program. The emphasis on engaging the customer, and developing a long term relationship, is essential to an outcomes based company culture.
Read Profitable Marketing Communications: A Guide to Marketing Return on Investment by Antony Young & Lucy Aitken and turn your marketing program into a measurable investment for increased return on that investment.
