Over the past couple of years, marketers and communicators have been challenged by C-Suite executives and non-marketers about proving their work. What is the return on investment for a particular campaign? If we target a certain batch of consumers, is there a customer lifetime value that a business can expect? How many website visits and video views turn into sales?
We not entirely upset about these questions. No, marketers and communicators should be able to explain how their activities are measured. In this age of technology, it should be easier (note: easier, not easy) for marketers to attach metrics to campaigns and build models to see how they correlate with sales, engagement, or whatever the goal is for the advertising campaign.
When budget season comes around, marketers and account managers cannot rely on the company accountant to explain why the marketing budget is important. Though we agree that the marketer does not need to know as much as the accountant, the marketer should have enough knowledge of finances to be their own advocate.
As time goes on, marketers will undoubtedly have more demanded of them. Content marketing is still increasing in popularity, online video is seeing incredible results, and marketers and account managers will need to know how to tell their story.
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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