Wilton, CT (PRWEB) December 2, 2008
A new white paper from Marketing Management Analytics, Inc. (MMA), http://www.mma.com, the pioneer and innovator in marketing effectiveness, takes a new look at the issue of marketing accountability and the marketing-finance divide. The paper demonstrates how companies can increase marketing efficiency and effectiveness through establishment of an enterprise-wide accountability team that has support and buy-in from management and finance.
The paper, entitled "2008 ANA/MMA Marketing Accountability Study: The Roadmap for Success," uses data from the annual joint study to detail issues related to marketing under-performance, then offers proven solutions and success factors from real-life corporate situations. If implemented properly, the paper posits, these steps will lead not only to true marketing accountability, but also help turn customer insights into customer loyalty, build brand equity and enable the pursuit of growth opportunities and the management of risk based on real-time data and leading indicators.
"We all know that many senior marketers and finance executives have often struggled to link marketing metrics and changes in consumer attitudes to sales and financial metrics," said Douglas Brooks, senior vice president of MMA. "With this white paper, MMA is providing some clarity and practical actions to help organizations realize that a well-structured marketing accountability program can provide clear visibility into growth and efficiency opportunities while identifying areas of risk."
The action steps outlined in the white paper include:
- Assessment and benchmarking - the need for rigorous and honest assessment of current capabilities and resources in four key areas: analytics, data, people and process and tools.
- Defining an achievable future state - conducting a series of stakeholder interviews and work sessions to capture and define the current situation, leading to identification of key enablers and inhibitors of a marketing accountability program.
- Working with stakeholders to align metrics with corporate goals and key business questions - this closely links the accountability program to broader strategic initiatives, increasing the likelihood of success.
- Establishing a Marketing Effectiveness Roadmap - provides the organization with a multi-year, phased analytics approach to support business priorities based on available data and resources.
"In this tough economic environment marketing accountability programs are a must have, in order to justify marketing spend," said Barbara Bacci Mirque, executive vice president of the ANA. "Without proper programs in place, if senior management asks a marketer to make temporary cuts, they are not going to know how to accomplish that to maximize effectiveness. The ANA is pleased to partner with MMA to bring marketers this important piece of data at such a critical time."
The 2008 ANA/MMA Marketing Accountability Survey, fielded by 'mktg', surveyed 128 senior-level marketers in May 2008, following similar studies conducted together since 2005. To see the white paper, click here: http://www.mma.com/whitepapers/2008MMA_ANA_Study.pdf
About Marketing Management Analytics, Inc. (MMA):
MMA pioneered the use of marketing mix modeling to help companies plan, measure, validate, and optimize their marketing performance. Since that time, MMA has conducted more than 1,000 studies on hundreds of brands and businesses in more than 20 countries. MMA's clients include many of the most recognized marketers in the world. MMA has been a unit of Aegis Group, PLC, London (AGS.L) since 1997. For more information about Avista DSS and other MMA services, visit http://www.mma.com.
About the ANA:
The ANA's mission is to provide indispensable leadership that drives marketing communications, media and brand management excellence and champions, promotes and defends industry interests. The ANA is the industry's foremost and recognized source of marketing communications best practices. It also leads industry initiatives, influences industry practices, manages industry affairs, and advances, promotes and protects all advertisers and marketers. The trade association represents 400 companies with 8,000 brands that collectively represent $250 billion in marketing spending. For more information visit http://www.ana.net.
Contact: Wendy Marx, Marx Communications (203-445-2850, wendy at marxcommunications dot com)
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