Tag: Marketing Mix Transparency

Increase your Marketing Mix Transparency

Transparency has been a burning issue since the 2016 scandal, but the industry is changing to solve any emerging challenges. Here you will learn what major factors contribute to this problem and how to address them effectively. In an April 2019 article, Forbes covers the issue of transparency and executive level visibility of marketing spend and offers advice on how to solve this problem. Since large companies worldwide invest more than $1 trillion annually into an increasing mix of marketing assets, media and technology, this money should be spent wisely and to the best advantage of the company. But you may be surprised at the fact that most CEOs and financial executives have too little visibility into this marketing spend, most of them don’t know how efficient the investments into sponsorship programs, digital media and technology are. It happens because finance and marketing departments currently don’t cooperate at the necessary level to improve tracking, classification and accounting for marketing spending. This lack of cooperation prevents companies from accurately measuring the efficiency of such investments. As a result CMOs are under pressure from their CEOs and have to spend additional billions of dollars to prove the value of marketing. Even though it’s necessary… Read more »