Increase Your Marketing Mix Transparency
Transparency has been a burning issue since the 2016 scandal, and the industry is evolving to tackle emerging challenges. In this article, you will learn about the major factors that contribute to the transparency 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 the finance and marketing departments currently do not cooperate at the necessary level due to numerous obstacles. This lack of cooperation prevents companies from accurately measuring the effectiveness of marketing investments. As a result, CMOs are under pressure from their CEOs and have to allocate additional billions of dollars to prove the value of marketing. Even though it’s… Read more »
