So the question of the day is, can you achieve ROI for branding and awareness campaigns? In the current economy it is more critical than ever to measure effectiveness of marketing initiatives.  Of course the value of branding campaigns such as print advertising, premiums, sponsorships, etc. goes beyond measurable ROI. Can you put a dollar value on brand recognition?  In the days of online advertising which can guarantee lead capture, number of clicks per ad, number of impressions and traffic results, the print ad becomes a hard sell when companies have to hold their marketing budget accountable for effectiveness. 

 

During my tenure at PanAmSat (PAS), the marketing budget was slashed and executives placed accountability on marketing. For the first time marketing was subject to reporting on results of every project put forth. The problem is many marketing initiatives particularly in branding do not lend themselves to qualitative analysis yet are deemed valuable in establishing branding and awareness. Premiums for example provide no ROI yet are valuable leave-behinds at shows, meetings and can help in maintaining good relationships with clients by providing that little extra as a way to show you value their business. What's the ROI of giving a client a Waterford pen upon closing a deal?  Priceless? Maybe. But measurable? 

 

There is a way to measure ROI for critical branding efforts. Any initiative that helps your sales team close a deal is supportive data. Quantitative analysis can provide insight into the worthiness of those projects which lack concrete ROI numbers for analysis and justify spending. 

 

A marketing scorecard at PAS was created that included detailed feedback on every action taken and every dollar spent. We established a reporting system which included all applicable information for usage of each branding initiative. Subscriber numbers, attendance numbers, contact names and contracts signed as a result were calculated. 

 

So can you hold your print ad accountable? Of course. Please check back for my next entry which will include details of establishing measurability for your print ad.

 

Jan Pierret