You are doing yourself a disservice in you measure
impact and effectiveness of marketing and branding only on bottom line. There are far too many facets of success equation to reduce final assessment to that alone. Ultimately bottom line will increase but if we expect immediate results and they don’t happen to translate into money right away, it’s easy to think things aren’t working and give up too early in process.The value of reputation, relationships, brand awareness and consumer attitudes, related to your business, are impossible to measure based solely on financial returns.
A thorough evaluation of where your business is now, and identification of next most important goal, is a good place to start.
Other measures of ROI are:
Ønumber of leads generated Øtotal sales revenue generated Øchange in awareness of your brand – buzz in marketplace Øchange in market share Øchange in buying pattern re products, days etc. Øchange in intent to buy Øincrease in incremental sales revenue Øcustomer retention
The alignment of marketing and business strategy has resulted in recognition of importance of marketing to overall business success. Funds are no longer being taken from marketing depart- ments as a first remedy to a shortfall elsewhere . All of that has resulted in an increased expectation of accountability for results.
