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The kickoff event netted airtime on every local TV station affiliate, as well as on many local and national network radio shows. MDB
Helps D.C. Lottery Launch Negro Leagues Instant Scratch Ticket Leveraging the synergies of Black History Month and the return of Major League Baseball to the nation's capital, MDB put together an integrated marketing communications program to kick off the D.C. Lottery's new Negro Leagues Instant Scratch Ticket. In addition to radio, print, online, and POS marketing, the campaign included a significant PR component and a launch event at Union Station, featuring Negro League All-Star Buck O'Neil.
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Marketing ROI:
If
you haven't heard the rumblings about it, you soon will: "Marketing ROI"
is the latest buzzword bouncing off of the walls of marketing departments
these days. While the concept of ROI is not new, the idea of applying
it directly to an organization's marketing activities most definitely
is. What is Marketing ROI? Return on Investment (ROI) in its purest form is defined as a method to calculate the amount of financial value gained relative to the amount of money invested. The simple math formula for calculating ROI is: (Total Incremental Profit - Total Investment) Calculating ROI In order to determine the marketing ROI for a particular activity, you first need to determine what your Incremental Profit figure should be. (Incremental Profit also goes by the name of Gross Margin.) You typically arrive at your profit by taking the total revenue you've realized from the marketing activity and subtracting the Cost of Goods (materials, labor, overhead, etc.) as well as any costs directly related to the sale, such as fulfillment or customer account setup. Here's a simple example:
Dropping in the values for calculating ROI,
however, is often anything but simple. It's Not Easy In a recent Accenture survey, nearly 75% of U.S. and U.K. marketing executives interviewed said their companies are unable to measure ROI. In another survey by the Association of National Advertisers (ANA) and Forrester Research, nearly 80% of executives said they are dissatisfied with their ability to measure ROI. Almost 50% said ROI data is hard to obtain, and most couldn't agree about how to define it. So Why Bother? Have you noticed your CFO hanging around your office more frequently? Is he or she asking more questions about what's up with your latest marketing campaign? There is a new accountability for marketing in today's organizations. No longer are advertising and marketing looked upon as ambiguous activities with intangible results. And, coming off a prolonged period of belt-tightening during which marketing budgets were often the first to go, expectations have gone up, along with the need to justify expenditures. There's a realization that marketing strategies need to be aligned with the organization's business strategies. Senior management has finally invited the marketing department to take a seat at the boardroom table, and the price of admission is the ability to track and report results in very specific ways. A Clear Goal In addition to making senior management happy, instituting a marketing ROI-centric culture can pay dividends to those responsible for creating the marketing activities. People do better work when they have a clear idea of what they are driving toward. If you've taken the time upfront to clarify goals and get everyone on the team on board with them, you'll find that you will be able to accomplish the work with less wasted effort and expense. Beyond the ROI Math Formula Admittedly, obtaining the data needed to properly calculate ROI can be a challenge, since it is often not directly accessible by the marketing department. Until your organization is structured to easily share the necessary results and cost information with you, it is possible to institute other ROI metrics that can be extremely useful. Some of these metrics include:
Source: Association of National Advertisers/Forrester Research How to Build ROI Into Your Planning
A Means, Not an End Instituting an ROI-centric marketing culture
in your organization will likely win you accolades and your own return
on investment—job security in today's evolving marketing world. For
all the benefits it can bring, though, keep in mind that ROI alone falls
short of serving as the exclusive measure of success. Harder to quantify
factors such as attitudes, brand value, and reputation all play an important
role in measuring the results of marketing programs, and should continue
to be heard bouncing off the walls of your marketing department, along
with the latest buzzwords. Marketing ROI Reading
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