Here is how to win the heart and the trust of your investors, CEO and CFO…
First make sure that your marketing strategy is aligned with your top line business goals – this seems elementary but it is seldom accomplished - especially when Marketing does not have a seat in the C-suite.
Next, it is essential to develop your marketing plan with measurable tactics to show how your marketing investment will directly contribute to revenue growth. Yes, that means managing your marketing campaigns as a revenue contributor (if not generator) – and not as an expense line item. And yes, that also means creating cross-departmental synergy between Sales, Operations, Revenue Management, and Marketing.
By measuring and monitoring the performance of your marketing tactics, you will be able to do more of what works and fix what does not. In doing so you will improve your return on each marketing dollar spent (RMOI).
Consequently, when you improve your RMOI, meaning that your campaigns are getting more effective by producing better results with the same initial investment, then you will be able to spend less to achieve your goals. Or, you could choose to grow demand with the same initial investment. Either way, you will directly increase your bottom line!