(Full video: https://www.youtube.com/watch?v=yRoxd48F6yg)
“Choose no more than five key metrics. It’s hard to put organizational focus on more than that, so choose wisely.”- , Chief Revenue Officer, Marketo
Marketing ROI, or return on investment, is the practice of attributing profit and revenue growth to the impact marketing initiatives. By calculating marketing ROI, organizations can measure the degree to which marketing efforts either holistically, or on a campaign-basis, contribute to revenue growth. Typically, marketing ROI is used to justify marketing spend and budget allocation for ongoing and future campaigns and initiatives.
On 25th August 2020 TuriyaTalks came up with it’s 11th Episode of Season 4 where Mr. Sathya Murthy Namakkal, Executive Director - DDB Mudra Group and Co-Founder of Cognitive ROI in conversation with Sandhya Sutodia, the co-founder of Turiya Communications, has enlightened us about the topic “Marketing Return On Investment -The Way Forward?” sharing his professional experiences. Talked about Comprehensive ROI Measurement, POEM (Plan Optimise Execute Measure) helps marketers, ROI Driven Planning, POEM’s proprietary planning engine helps you to build the ROI.
He talked about how marketers now stress and invest more on promotional activities rather than brand building activities in this competitive market. Talking of the difficulties faced during media planning he said that, ‘Media is a very challenging and exciting industry’. The challenge is the lack of robust measurement system. He elucidated on the huge amount of fragmentation of the media consumption and the importance of the study of consumption patterns by the marketers after the evolution of technology.
His 20 minute presentation ‘Flying Against The Wind - Measuring Marketing ROI’ expounds his views on Artificial Intelligence (AI) and its future; also the different measures of ROI. He further discussed about AI’s impact on Advertisements, how easily can AI be used by the people and how inexpensive the tool is.