Check in with us from time to time, see what we are thinking about, and who we are listening to as we search for new and better ways of doing business.
Discussion was focused around measuring the financial impact of strong brands on business. Taking place at the Forbes Galleries in Manhattan, attendees included senior marketers from SAP, BlackBerry, Panera Bread Co., Citibank, Xerox, Merck Consumer Care, General Electric, and Johnson & Johnson.
Representatives from the ANA, MSI, and MarketShare. From L to R: Michael Palmer (ANA EVP), Bob Liodice (ANA President and CEO), Earl Taylor (MSI CMO), Kevin Lane Keller (MSI Executive Director, Professor of Marketing at Tuck School of Business at Dartmouth College), Pat LaPointe (MarketShare EVP)
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MarketShare CEO Wes Nichols is a featured writer in this the September/October 2013 issue of INFORMS' (The Institute for Operations Research and Management Sciences) Analytics Magazine.
The article, entitled "Good Quant, Bad Quant", discusses how mathematical methods used in today's analytics allows for highly different degrees of accuracy -- and how important it is to make sure your math is up to snuff.
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Heath Podvesker, MarketShare EVP EMEA, discusses how the changing financial climate in Europe affecst the way CFOs and CMOs work together -- and how to continue to improve and expand business in a tighter budgetary atmosphere through utilization of analytics.Add a comment
By Pat LaPointe, Executive Vice President of MarketShare
It’s no secret. Finance and marketing are oil and water. They don’t mix well. Finance is often perceived to have onerous authority over budgets, plus audit/oversight responsibility. As a result, the journey toward better insight into marketing payback often gets derailed from the start when finance asks what it believes are logical and simple questions, but which marketing interprets as a challenge: “Is our marketing generating shareholder value?” “How do we know it’s working?”
Hearing this as a challenge, marketing moves into “justification” mode. And since marketers are creative and articulate types, they usually answer with a stream of ad-hoc evidence, anecdotes and metaphors which individually may not be so convincing, but together create just enough executive committee fog to deflect the discussion. Case closed.
Well, maybe not quite. The result is often a stalemate in which the inherent subtleties of marketing are explained with superior powers of persuasion to cast doubt on the wisdom of cutting marketing spend.Add a comment