It isn’t want you make, but what you keep!
Focusing on ROI is the sign of a bad marketer.
Why it matters: Executives focusing on marketing’s ROI are showing a lack of knowledge about marketing’s value.
Executives didn’t get here alone. Too many marketers gave up their strategic position to focus on tactics.
A focus on ROI often leads to:
- Underinvestment in branding
- Too much focus on last-click attribution
- Declining sales over the mid and long-term
Be smarter: Marketers can get out of the ROI trap:
- Focus on profitability.
- Focus on marketing’s impact on achieving strategic goals.
- Stop spitting out buzzwords that undermine their credibility.
Put it to work: Immediately:
- Talk about pricing power: a 1% increase in price can generate a 10+% increase in profits.
- Frame marketing as strategy’s execution arm: show marketing’s impact on winning customers, driving profits, and creating competitive advantage.
- Promote your brand: use data to make the case for the power of your brand to create an advantage for your business.