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Maximising returns from customer spend

Cover for Maximising returns from customer spend

Classification: Spotlight

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Marketing is a growth area and rightly so. The importance of brand and the customer experience are critical to on-going profitability. Despite the growth of the budgets and the scale of the projects being run by Marketing, the way that the vast majority of those projects are run is a long way from best practise, as seen in those areas where running projects is a way of life.

The lack of governance, auditability, rigour and automation in the marketing process starts to become more of an issue when organisations are spending many hundreds of millions of dollars and the process is being administered by teams who rely on little more than spreadsheets to track what they are doing. This is even more of a threat when those individuals are working under great time pressures, so that human error and omission are a very real danger. The ROI from marketing spend is currently not really an issue because it is low hanging fruit that is being harvested. But once the “easy reds” have been taken, this approach will start to expose the lack of rigour that underpins what is going on and enterprises will not see the spend returning what could and should be achieved with a more professional approach with better supporting methods and their accompanying automation.

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