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July 19, 2005

The Power of Performance in Marketing

Welcome to our THUNDER FACTORY blog. On this site, we hope to have a spirited and productive conversation on marketing, and all that it entails, in the 21st Century. Our goal is to make this blog a thought-provoking destination for marketing and communications professionals and practioners, professors and students, journalists and analysts, and all those who are interested in the wonderful world of marketing. Of all the topics that we will tackle on this blog, the one that we kick off with today, is one that we plan to return to frequently: Performance in marketing. Or, better stated, the lack thereof.

The fact is, performance has always been the dirty little secret of marketing. You've no doubt heard that tired old saw about advertising: "I know that at least half of my advertsiing is wasted, I just don't know which half." You might be surprised to learn (but perhaps not) that a large number of marketers still don't really know which half of their marketing investment is truly performing for them...or not. It's no wonder that so many C-level executives (other than Chief Marketing Officers, of course)are suspicious and cynical about the value of marketing. When those of us who are responsibile and accountable for marketing don't have a firm handle on how, when, or if it's actually performing, then it's easy to understand the CFO's cynicism. And why she won't increase the marketing budget.

The following will be a mantra of sorts for this site: The only reason to invest in marketing in the first place is to achieve results. And, if the marketing is not performing as it should, then you won't achieve those desired results. Consequently, you need to make sure that your marketing is designed from the ground up to perform. Then you need to measure it, refine it, and measure it again, to ensure that it does indeed perform.

I know, if only it were that simple. But, getting your marketing to achieve the results you want is not as difficult as you might think. Stay tuned. We're going to explore that subject in detail, and share a lot of strategies and ideas to help you finally figure out which half of your advertising is wasted.

Posted by Patrick at July 19, 2005 02:02 PM


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