It is said that at least half of all advertising spending is ineffective, that up to 80% of new-product initiatives fail commercially, and that 85% of sales promotions lose money. Such sobering statistics invite a deeper examination of the productivity of marketing investments, especially as they impact customer attitudes and financial performance.
Newly developed marketing metrics and an abundance of good customer and marketing data provide the opportunity for improved marketing practice going forward. However, the data and the metrics do not suffice. We also need to know how the metrics relate to each other, and how marketing investments impact these metrics in different ways. For example, do increases in sales always correspond to increases in brand equity or in customer equity? If not, what are the tradeoffs between them? This conference will explore these and other issues including:
How do customer metrics relate to business performance? Which customer metrics should CFO’s and CMO’s be responsive to?
How do marketing mix models help clarify the all-important connection between marketing spending and business performance?
How do we integrate customer metrics, marketing ROI and financial performance?
(from Marketing Science Institute; http://www.msi.org/msi/meetings.cfm)
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