Boosting Returns on Marketing Investment
Source: McKinsey & Company
The golden age of advertising is over, so marketers must now work harder to reach buyers. Distracted consumers and the proliferation of media and distribution channels are also undermining the traditional approach: set objectives, develop messaging, and measure results. While some marketers have responded by turning to quantitative solutions such as marketing-mix models, the challenges call for more. The paper depicts that senior executives should treat marketing as the investment it really is by managing risk more carefully and tracking returns more completely.