Book Excerpt: 'High Performance Marketing: Bringing Method to the Madness of Marketing'In the early years of America's independence, land itself was an "intangible" that defied clear measurement. It wasn't until the new frontier was accurately surveyed and measured that the country's promise of dynamic prosperity could at last be fulfilled.
We face a similar challenge as we struggle to map out the intangible realm of customer value and measure marketing's impact on growth, profit, and shareholder wealth. Marketing, as we have said, is in a privileged position to identify key market trends and opportunities, to more deeply connect the enterprise to its customers.
Marketing, therefore, must act to drive growth.
But marketing also must defend and validate its actions, and the measures of its performance must be clear and definable. Those measures and performance results, rather than allocation-based budgets, will guide the investment of corporate resources in marketing. To access the excerpt: