Advertising is still under fire for reporting a return on investment based on its expenditures. How should we measure success? How can we determine the correct amount of advertising dollars per buyer, per campaign, and per quarter?
What exactly are the C-Suite, our clients, and society really looking at when it comes to evaluating a campaign?
Leo Burnett, one of the greats in the industry, measured advertising success off of sales. Same with David Ogilvy.
In a recent post, we even shared a report done by Tenet Partners that shows a clear correlation with ad spending and stock value. So what is going on?
It is hard to tell. It is true that businesses are carefully watching budgets due to the uncertainty of the market. But, and no offense to the big business folks out there, every day in business is uncertain. Naming “uncertainty” as a reason for shrinking an advertising budget is too simple for a business mind to accept.
It is crucial for advertising professionals and brand managers to get on the same page, and we need to know how advertising is going to be measured to determine success.
Dwayne W. Waite Jr. is partner and principal at JDW: The Charlotte Agency, a marketing and advertising shop in Charlotte, NC. He enjoys consumer behavior, economics, and football.
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