Is your marketing 'moving the needle'?

The is no doubting the challenges facing both marketers and businesses in todays marketplace. Intense competition, reduced or stagnant marketing budgets, declining volumes, reduced consumer spending, an explosion of ‘marketing’ channels and a tough economy means that marketers need to make better and more effective use of their marketing expenditure.

So are the old approaches working in this very difficult environment? It’s hard to say. Only marketers and the businesses they work for can answer this question. The only way this question can be answered is for marketers and the organisations they work for  to evaluate if their marketing spend is ‘moving the needle’ in terms of growing topline revenues and profitability

So with limited marketing budgets and organisations looking to boost short-term revenues and increase long term retention, what are they to do? Well, first and foremost, be honest and accept that significant change is required. Develop a strategy that is compelling, by digging deep and giving customers reasons to believe that they should part with their money and give it to your business.

It is obvious that a serious response is required. So marketers should focus on revenues and be prepared to utilise models that emphasise metrics, accountability, performance and transparency.

By leverage a quantitative approach complemented by the necessary ‘creativity’ inherent in developing effective marketing communications will increase revenues, bolster market share and retain customers, and will ensure the future viability of the business to the benefit of employees, customers and shareholders.



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Friday, 19 July 2019
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