Together in partnership, Marketing Week and Thinkbox spoke to a wide range of industry experts in a seven-part exploration of marketing effectiveness. We discussed how the measurement of effectiveness is changing, how it can be maximised and how marketers are gearing up for the new age of effectiveness including the structural, behavioural and insight changes that are required.
Our contributors include Mark Ritson, Annabel Venner (Hiscox), Richard Shotton (MGOMD), Andrew Geoghegan (Diageo), Ben Rhodes (Royal Mail), Ann Constantine (Direct Line Group) Ian Whittaker (Liberium Capital), Mary Basterfield (UKTV) and Peter Field (marketing consultant).
Episode 1: Creating a culture of effectiveness
As marketers come under increasing pressure to prove the value of their investments, creating a culture of effectiveness and setting teams up so they can show how marketing leads to business growth is becoming a necessity. We examine how brands are creating a culture of effectiveness and how that effectiveness focus is instilled across the business.
Episode 2: The importance of evidence-based decision making
Businesses are increasingly looking for evidence from marketers that shows why they should invest in the discipline and the impact that investment will have on the top and bottom lines. We discuss why data matters and the value of short-term versus long-term thinking.
Episode 3: The view from the outside
Marketers may have their own view of what makes effective marketing, but that needs to match up with the company’s view of success. We get the outsider’s view on marketing, speaking with CEOs and finance bosses to understand what they’re looking for from their marketing department.
Episode 4: How marketers can maximise effectiveness
While marketing effectiveness might be rising up the business agenda, knowing how to measure and maximise ROI on spend is still a challenge. We speak to marketers at brands on measurement, attribution and long- versus short-term effects.
Episode 5: Rethinking the language of effectiveness
Return on investment (ROI) has become a key measure for businesses looking to determine the success of their marketing spend. However, there is a risk that by looking at ROI alone, marketers focus on marketing efficiency rather than marketing effectiveness.
Episode 6: How to deliver impact and gain influence
The ways to measure marketing effectiveness vary from brand to brand and campaign to campaign and can run the gamut from digital attribution to econometrics. What marketers won’t find, however, is one technique that works in all circumstances.
Episode 7: How to be a more effective marketer
Brands that want to improve marketing effectiveness need to balance long- and short-term effects and ensure they don’t forget about the importance of creativity, according to marketing effectiveness experts.