According to a recent study from Duke University’s Fuqua School of Business, eight in ten marketers feel that it will be much (29%) or somewhat (50%) more important for their marketing function to prove business impact and ROI in the coming twelve months (marketingcharts.com). Cyril Williams, Managing Director of Pareto Global Associates explains: “With the economy recovering, businesses are finally spending more on marketing campaigns; however the marketing budget needs to be spent wisely.” Cyril Williams continues: “It is normal for business owners to want to see what they are investing in and it makes sense to invest in successful marketing campaigns that have the highest impact on the business.”
About Pareto Global Associates: http://www.paretoglobalassociates.com
There are however concerns amongst marketers. In fact, the study reveals that 77% of respondents see challenges in proving the effectiveness of specific campaigns. A Teradata study which looks at data-driven marketing opportunities and challenges, confirms that the most frequently cited problem by 44% of marketers to calculate the ROI is connecting marketing activities to specific earnings generated (marketingcharts.com). “For a larger organisation that is running several campaigns at the same time such as TV adverts, billboards or bigger events, it can be difficult to specify which income is allocated to a specific campaign; however for small businesses the marketing plan should be easier to manage and it is crucial to concentrate on effective marketing,” says Cyril Williams of Pareto Global Associates.
Another challenge that occurs is collecting or accessing the relevant data in order to calculate a precise ROI. In fact, according to research most marketers believe that having access to the right data would help them prove ROI (marketingcharts.com). Cyril Williams of Pareto Global Associates recommends business owners to look at marketing budgets together with their marketers in order to determine the real needs for the business and to reasonably decide what budget to allocate and for what specific campaigns.
Pareto Global Associates is a direct sales and marketing company based in Liverpool. The firm helps raise brand awareness on behalf of its clients on a face-to-face basis. Cyril Williams explains: “We offer our clients immediate results. This makes it easy for them to determine their budget for our marketing campaigns.” Pareto Global Associates have successfully increased their clients’ sales and hence their ROI over the past few months. For this reason, Cyril Williams has recently been asked to expand into further markets by the end of 2013.
- Contact Name:
- Cyril Williams
- Managing Director
- Pareto Global Associates
- Contact Email:
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- Contact Phone:
- 01274 727744
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