 Do you know the impact of your marketing initiatives on the bottom line? Marketing managers increasingly need to demonstrate the ROI of their marketing programs and invest more strategically. A recent McKinsey survey, presented at the CMO Summit at Wharton in 2002, found that CEOs expect marketing leaders to cut costs and increase contributions to growth. At the same time, the rise of new channels, such as the Internet and wireless, and the increasing importance of word of mouth and sponsorship, make marketing resource allocation decisions much more complex. You need practical tools to measure the effectiveness of your advertising expenditures and get more for your buck.
Marketing Metrics program offers research-based insights and tools to help you better assess and communicate the returns from your marketing investments. The program draws together Wharton marketing, accounting, and finance faculty, who bring an approach and perspective based on research and best practices at leading companies. They will give you a broad, unbiased, and sophisticated view of the impact of various marketing efforts in different industries, with special attention paid to assessing both the short-term and long-term implications of each strategy.
Program Focus
- Marketing accounting
- Assessing the ROI of alternative growth paths
- Distinguishing between expenses and capitalization
- What the CFO wants to hear from marketers
- Measuring brand value
- Assessing the lifetime value of customers
- Valuing intellectual property
- Measuring the likelihood of repeat purchases
- Measuring marketing assets
- The marketing dashboard
- The value of growth
Approach
In addition to participating in class sessions and working in teams on cases, participants will directly wrestle with metrics through a marketing dashboard exercise. In this exercise, participants design a dashboard using a proprietary computer program and then use the dashboard for a virtual test drive to make resource allocation decisions. This is an ideal opportunity to experiment with different measures and see how they help or hinder your ability to guide your business in real time. Marketing Metrics will also explore how traditional marketing measures awareness, preference, loyalty, customer satisfaction, distribution levels, and market share are linked to financial outcomes. Through these exercises and discussions, you will get a clear sense of the best marketing metrics to use as the central focus of the business.
Program Outcomes
- Develop a more coherent, measurement-based approach to allocating resources across your marketing portfolio.
- Understand the key methodologies and approaches to short-term and long-term financial impact of marketing expenditures based on research and best practice.
- Improve use of the rich online customer data in measuring both online and offline marketing initiatives.
- Learn how to effectively support your budgets and communicate your successes.
Participant Profile
This program is designed for marketing managers with budgetary responsibility, from chief marketing officers to product and brand managers, particularly those who are under increasing pressure to justify expenditures and demonstrate returns.
Date:
May 16-19, 2005 (Participants encouraged to arrive by May 12)
November 07-10, 2005 (Participants encouraged to arrive by November 03)
Location - Philadelphia, PA (Residential)
Fee - click here |
