Great article from Jim Lenskold. The gist of it is that long term branding activities should not be in a death match for budget dollars against short term marketing projects that generate a measureable ROI. They should be complimentary. You may not be able to pin-point exactly which branding initative contributed directly to quarterly sales, but branding has long term impacts on pricing, stock value, and strategic direction.
If you only focus on short term project-led ROI, you miss out on big picture industry-shaping strategic activities that lead to future sales growth. If you're not tracking either; you should and need to be able to prove a positive return on your daily activities. If not, how do you expect C-level execs to continue funding? Not to mention, you'll never have a true seat at the table for strategic discussions.
It's funny that I was just talking about this the other day as well. The point is that what gets measured improves. You can track long term strategic goals like preference, attitude, and profitability; as well as short term goals like purchases from online ads, direct marketing response rates, and event marketing.
Done well, all short term activities feed and strengthen your long term strategic goals. You can build brand while making sales - as long as you are truly working with your customer's best interests/desires in mind.
technorati tags > branding, marketing, ROI, investment, strategy, metrics, measurement
If you only focus on short term project-led ROI, you miss out on big picture industry-shaping strategic activities that lead to future sales growth. If you're not tracking either; you should and need to be able to prove a positive return on your daily activities. If not, how do you expect C-level execs to continue funding? Not to mention, you'll never have a true seat at the table for strategic discussions.
It's funny that I was just talking about this the other day as well. The point is that what gets measured improves. You can track long term strategic goals like preference, attitude, and profitability; as well as short term goals like purchases from online ads, direct marketing response rates, and event marketing.
Done well, all short term activities feed and strengthen your long term strategic goals. You can build brand while making sales - as long as you are truly working with your customer's best interests/desires in mind.
technorati tags > branding, marketing, ROI, investment, strategy, metrics, measurement
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