CMO Insider Emerging AI, Technology and Marketing tune-up
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I was going back in the time machine and recalling one of the jobs I had out of college with a degree in Commerce – working as a Cost accountant in manufacturing. It was a numbers oriented job working on the AOP, boring ledgers and keeping tabs on the monthly variances from paint to man hours. Development of the AOP meant precision. Every imaginable fixed and variable cost from power to man hours, from paint to parts would play a role into the projection. The past several years historical and cyclical trends and actuals would finally finesse the dreaded AOP. My presentation of the AOP to the boss blissfully matches the ‘woman sitting in the chair with the boss’ image accompanying this post. Notice the stiff arms? Well, that was me.
The following fiscal year would prove if the projection met the 0 to 60 in 4.3 seconds test. I would track the variances monthly and would have a beaming smile some months. End of the fiscal year a minimal $ true up was all that was needed. It felt good.
Ok, enough of this accounting conversation. I am really a marketing guy inside, which I thank a mysterious unscheduled meteor shower.
Fast forward the time machine ## years to the digital, search and social marketing world which I thoroughly and passionately enjoy. I sometimes hear a whisper in my ear gently reminding me how crucial the ROI component is to the meticulously and creatively developed marketing campaigns we endeavor to run all year, for the enterprise.
It is a stamp of approval to the thoughtfully planned fiscal year ‘marketing roadmap’ as well as the ‘marketing plan’; providing the confidence to the business, and perpetual smiles for the marketing group.
There are indeed market variables abundant in digital, search and especially in the very dynamic social media ecosystem. An ideal world – each digital and social channel pumping real time analytics to the analytics hub with built in campaign ROI assumptions. These efficiencies help make the MOR’s robust and very KPI oriented.
Result = serving, understanding and knowing the customer in this omni channel world.
Shhhh, it is about attribution and ROI, not ROO (return on objectives) which seem to breathe new life into the next fiscal marketing year.
