“What is the ROI of my Marketing?” – every CMO
A great way to start answering this question is by looking at the data you already have. Things like TV ad buy records, lead data, social media, sales data, etc. If you’ve been tracking these sorts of metrics, particularly for at least 3 years, you’re in pretty good shape. However, does your internal marketing data tell the whole story behind the ROI? Not at all. Marketing doesn’t operate in a vacuum, so why should we assume it does when we’re measuring ROI?
External variables have a significant impact on marketing success. By way of example, let’s look at some of the external variables that have been statistically proven to impact the ROI of some of our clients. As you read through these examples, think about which external variables might have an impact on your business.