ROI in Marketing: The Design Thinking Approach to Measure, Prove, and Improve the Value of Marketing

by Frank Q. Fu, Hong Yi, Patricia Pulliam Phillips, Jack J. Phillips

Overview

Get your bottom-line results where you want them by putting your marketing campaigns and initiatives to powerful new use

Marketing is all about understanding and serving your customers’ needs—but how do you know that your events, campaigns, and communication initiatives are working at top effectiveness? And how can you determine whether your marketing investments are reaping real rewards? ROI (Return on Investment) is a performance measure used to evaluate the efficiency of all types of investments, and in this powerful guide, the team at the ROI Institute offer you a proven method for understanding your own marketing benchmarks as never before.

Drawing on real data collected from real cases of real companies in a variety of industries, ROI in Marketing uses a data-driven process to help you measure:

• Input, including types of projects, audience reach, number of customers, costs, and more
• Reactions of target groups to products, services, and messages
• Actions, including how to process and monetize what the target group thinks, believes, and knows
• Business impact of actions taken by the target group and their influence on sales, new accounts, and profits
• ROI, monetary benefits of marketing programs compared to costs
• Intangibles, such as image, reputation, corporate social responsibility, and more

Packed with actionable, results-driven processes, ROI in Marketing offers a powerful blueprint for transforming how you interact with your customers to get clear bottom-line results.

Product Details

ISBN-13:	9781260460421
Publisher:	McGraw Hill LLC
Publication date:	10/19/2020
Pages:	352
Product dimensions:	5.90(w) x 9.10(h) x 1.30(d)

About the Author

Jack J. Phillips, PhD., is a world-renowned expert on accountability, measurement, and evaluation who provides consulting services for Fortune 500 companies and major global organizations. He is the author or editor of more than 100 books and conducts workshops and presents at conferences throughout the world.

Frank Q. Fu, Ph.D., is an award-winning associate professor of Marketing at the University of Missouri-St. Louis. He has published dozens of articles in various prestigious journals, and helps American and Chinese companies improve their marketing performance through consulting and advising efforts.

Patricia Pulliam Phillips, Ph.D., is CEO of ROI Institute, Inc. where she helps organizations implement the ROI Methodology in over 60 countries. She is also the author, coauthor, or editor of over 75 books and dozens of articles on the topic of measurement, evaluation, and ROI.

Hong Yi, CPT, serves as the president of Beijing Sinotrac Consulting Co. Ltd, is a leading performance improvement consultant in China, and a Certified Performance Technologist (CPT). She has published and translated multiple books in the performance improvement area. Over the years, she has served clients including Chinese and multinational companies, such as IBM, Samsung, Johnson & Johnson, Novo Nordisk, Sinopec, China Unicom, China Telecom, and China Merchants Bank, among others.

Table of Contents

Acknowledgments v

Preface vii

Part I Why This Is Important

1 The Value of Marketing: A Critical Issue 3

2 How the ROI Methodology Works 29

Part II The Details of the ROI Methodology

3 Start with Why: Align Programs with the Business 59

4 Make It Feasible: Select the Right Solution 85

5 Expect Success: Plan for Results 107

6 Make It Matter: Design for Input, Reaction, and Learning 139

7 Make It Stick: Design for Action and Impact 159

8 Make It Credible: Isolate the Effects of the Program 175

9 Make It Credible: Convert Data to Monetary Value and Identify Intangible Measures 199

10 Make It Credible: Capture Costs of Program and Calculate ROI 219

11 Tell the Story: Communicate Results to Key Stakeholders 233

12 Optimize Results: Use Performance Improvement to Increase Funding 253

13 Forecast the ROI 273

14 Make It Work: Sustain the Change to a Value-Driven Marketing Program 291

Appendix A 305

Appendix B 307

Appendix C 309

Notes 315

Index 321