Measurement Dashboards: The Panacea For Accountability Needs?

The need to measure return on investment (ROI) has long since been seared into the minds of communications professionals, from the days of mere clip counting to the emergence of more modern approaches (think marketing mix modeling, for one). But, as the need for accountability across the corporation continues to mature - and as the line between PR, communications and marketing professionals blurs - meeting the new standards is an ongoing challenge. The following factors up the ante even more: An ongoing need to justify communications, marketing and PR budgets A fragmented marketplace Difficulty with allocating resources Growing pressure from managers and shareholders Challenge in defining ROI and establishing the best metrics Plus, according to a study conducted at the end of 2005 by Marketing Management Analytics (MMA), Association of National Advertisers (ANA) and Forrester Research, marketers (and, based on their merging responsibilities, communications and PR professionals) recognize the difficulty in delivering key measures of accountability, with 79 percent of surveyed respondents viewing the measurement of marketing and communication's impact on sales as "important" or "somewhat important." That said, only 23 percent agreed that their senior management is confident in the forecasts they offer. (Results were based on the responses of 143 surveyed U.

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