Who should attend
Top management – VP, Directors, Division Heads, Senior Managers and other senior executives from:
- Marketing and Sales
- Brand Management/Communication
- Strategic Marketing
- Direct Marketing
- Interactive Marketing
- Product Management
- Channel Management
- Event Marketing
- Brand Communications
- Database Marketing
- Crisis Communications/Crisis Management
- Market Research department
About the course
Return on Marketing Investment (ROMI), is about justifying and innovating better campaigns to optimise your marketing "spend" or rather marketing "investment". This programme focuses on understanding marketing metrics. An online masterclass to complete at your own time and pace. On completion delegates receive a certificate of attendance and a digital credential to use on your LinkedIn profile.
A key part of our process of success at creating performance-driven marketing organisations is getting agreement between Marketing and the rest of the leadership team on how marketing performance should be measured. This is a critical step in ensuring you are focused on the right data and analytics. Organisations today are dealing with increasing market pressure and competition, and an exploding amount of data. The ability to transform data into actionable business insights that can be used for improving both marketing effectiveness and efficiency is a central challenge and a critical capability for marketers.
ROMI is about measuring any marketing or sales initiative, and an attempt to measure the aggregated effectiveness and efficiency of the marketing organisation to achieve corporate objectives.
The key concepts and ideas covered:
Marketing Metrics: Two case studies.
Why we measure: Costing out alternative marketing spends (i.e. increase return or decrease investment) case study.
What we measure:
- Customer Asset: Satisfaction, Loyalty, Behaviour (recency, frequency, monetary amount, Customer Lifetime Value (CLV), Discounted Cash Flows).
How we measure actual and expected outcomes:
- Intermediate outcomes (purchase intent); and
- Final Outcomes (Sales, GP%, profit, ROI).
The ROMI debate: Art and Science (use to "Guide, don't Prescribe").
Mastering advertising, promotions, events, and market communication techniques to ensure ROI for your company.
How you will benefit
Marketers need to understand the financial impact of their marketing, sales and go-to-market channel plans (distribution). Whether you're in a down or upswing economy, ROMI is your ticket to been taken seriously in the boardroom. Take a new look at your integrated marketing communication (IMC) techniques and calculate through research, just how effective your campaign is -- before, during and after.
It should change the way your company thinks about marketing and the way your marketing team operates. It will certainly improve your assertiveness when dealing with the C-Suite.
Videos and materials
Read more about Business Analytics
Read more about Information Technology
Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.
We are happy to help you find a suitable online alternative.