"A landmark book, providing marketing practitioners with the tools to professionalize their marketing decision-making." Philip Kotler
Do you know if your marketing is profitable? Which activities deliver the most value? and which simply fail to deliver? These are the questions thatMarketing Payback has been built to answer.
Marketing touches every aspect of your business, but marketing costs money and there are many choices to be made about where marketing budgets can be spent.
Sooner or later, every marketing executive will have to get to grips with demonstrating the contribution of marketing. From deciding whether a major campaign is worth backing, to the immediate and daily challenge of managing budgets and measuring activities.
If you are drowning in data yet wondering whether your sales promotions are effective, want a more reliable sales forecast or simply want to justify a marketing budget, Marketing Payback will help you to unlock the relationship between customer insight and financial foresight, and use them to your advantage.
These are challenges that every business faces, and questions that every marketer will encounter. Knowing the answers to these questions will help you and your business to back the right choices, make the right decisions and deliver more profitable marketing performance.
Chapter 1 : Introduction: payback begins here
Part A : Is Marketing Profitable? Answers to Common Questions
Chapter 2 : Marketings Mid-Life Crisis helps you assess your own marketing department and assess how much you are risking from poor marketing evaluation.
Chapter 3 : Demonstrating Success shows why existing approaches to evaluating marketing success are inadequate and looks at practical ways of demonstrating marketing payback.
Chapter 4 : The Laws of Marketing asks 'do you believe in marketing laws?' and shows why its worth making the effort of reading more academic marketing research to find out what the laws are.
Chapter 5 : Measuring How Marketing Really Works shows why its important to understand customer psychology; why the detailed design of market research is too important to leave to the boffins; and what is the ideal basket of measures for evaluating marketing payback.
Chapter 6 : Tracking Trends and Forecasting Futures shows why forecasting is too important to leave to the boffins; how to choose and brief your own modeller; what methods are available to choose from; how to make forecasting bullet-proof.
Chapter 7 : Avoiding Decision Traps shows how to assess your own decision-making and avoid repetitive errors and systematic bias.
Part B - Solutions to Common Marketing-Payback Problems
With all the foregoing out of the way, you are ready to dig deeper into a range of specific marketing decisions, exploring the methods and techniques available for better decision-making.
Chapter 8 : Expenditure Allocation tells you how to allocate money within your marketing budget to maximise its payback; and how to challenge the common errors that accountants often make.
Chapter 9 : Brand Identity Changes shows how by changing brand identity you can improve business results; and how to decide on the best change to make.
Chapter 10 : Brand Portfolio Planning explains why marketing has a key role in product launch and range-consolidation decisions; and how to decide when to expand and when to consolidate your portfolio.
Chapter 11 : Valuing Brands and Corporate Reputation shows why marketing should be more involved with investor relations; and examines the methods available for putting a financial value on brands.
Chapter 12 : Marketing Communications Optimisation shows new and better ways of choosing the best mix of media and creative executions to maximise payback.
Chapter 13 : Pricing Optimisation explains why marketing should be more involved with pricing; and what are the best ways of setting price to maximise profit.
Chapter 14 : Sales Promotion Optimisation tells you why marketing should be involved in controlling sales promotion; and how to determine the best mix of promotional activities.
Chapter 15 : Customer Equity Optimisation shows a new and better way of managing the customer base, by choosing the right number of customers and spending just enough money on customer acquisition, cross-selling and retention.
Chapter 16 : Squeezing Value from Marketing Information helps you assess the effectiveness of your marketing information management and how to squeeze more value from information
Part C - Financial Planning and Control
The final chapters review the financial planning and control of the corporation, and the changes needed to accommodate the need to optimise marketing payback.
Chapter 17 : The Number Wizards Toolbox investigates the tools you use to hammer the numbers - primarily spreadsheets - and explains how to use them in a disciplined way to construct models.
Chapter 18 : Marketing Planning describes what marketing plans are and how they
Chapter 19 : Better Budgeting covers the budgeting process and the way it needs to be modified to be a useful marketing control tool
Chapter 20 : Marketing Bookkeeping and Accounting introduces the methods used to keep track of marketing expenditure and activity in a way that can be analysed meaningfully
Chapter 21 : When Results Go Wrong looks at variance reporting and reviews its limitations and applications for marketing
Chapter 22 : Twenty Things Youll Do Differently now that youve read the book
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