As marketers, we are focused daily on executing our plans.  In addition to the MANY different hats we wear, we do media buys, write copy for collateral materials, conceptualize ideas, coordinate with designers and launch new campaigns like it is second nature. 

As marketers, we are focused daily on executing our plans.  In addition to the MANY different hats we wear, we do media buys, write copy for collateral materials, conceptualize ideas, coordinate with designers and launch new campaigns like it is second nature. 
 
However, the most important part of this equation often gets overlooked – sharing the results of your efforts!  Learning how to talk like a CEO is another vital part of your job as a marketer.  

 

Think of your CEO as an investor!

 

Investors have many options for where they can put their money.  For financial institutions, the choices are between:
 
  • Education and training
  • IT
  • Loans
  • Investments
  • Branches and infrastructure
  • Marketing

 

The purpose is to get a good return for each dollar they invest.  

 

If you aren’t communicating the return on your CEO/customer’s money, then they won’t be likely to reinvest in your department!  

What’s cool about marketing is that it doesn’t yield returns like a fixed-rate investment.  If we REALLY focus our efforts, segment our target markets, and craft the perfect message and delivery plan, the generated return can be much higher than the returns from any of the above.  

But…that’s not all!

There are many benefits to you, the marketer, in learning to think of your marketing from a CEO’s perspective.  If you are having trouble meeting your goals even though you’ve been perfectly executing your plan, this is when the importance of measuring and communicating ROI is most vital. Knowing these numbers helps you in the following ways:
 
  • Creates the ability to understand the communicate the return on your marketing and business development efforts.
  • Helps you better evaluate which programs are the most effective and which should be modified.
  • Assists in getting you the resources you need (more people in your department and/or larger budget) to meet your goals.
  • Allows you to have an intelligent conversation regarding your marketing and business development budget.
  • …and it prevents you from becoming a Dilbert cartoon…
Selling your marketing – both before and after a campaign – is as important as your marketing plan itself.  Now that you know how to view your marketing budget as an investment choice, communicating the ROI should become part of your marketing strategy if it isn’t already.
 
Amanda
 
 
 
 
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