This paper aims to review recent changes in the nature and capabilities of responsive marketing, particularly the balance shift from cold prospecting to customer development, in order to challenge preconceptions about today's marketing metrics.
A variety of recent research outputs are reviewed, covering the topics of data availability, marketing communications channels, campaign outsourcing, and customer re‐recruitment.
The paper concludes that marketing return on investment (ROI) is increasingly measurable, but the balance of expectation has recently changed. Information on the customer or prospect, along with the ability to speak to them through certain channels, has become more restricted. And customers increasingly expect personalised, relevant communications from companies they already do business with. So marketers are having to invest in data gathering and campaign targeting. New developments have improved some areas: response modelling has increased in sophistication, and existing communications with customers are now being harnessed for marketing purposes.
The research reported in this paper would benefit from further in‐depth study, especially regarding best‐practice use of existing channels to the customer, such as statements, regulatory correspondence and loyalty communications.
In practical terms, this paper highlights the need to re‐appraise metrics used to measure and monitor marketing ROI, in particular whether to use in‐house customer relationship management (CRM) systems, or whether to outsource the process.
The paper forms a timely prompt for marketing experts to challenge the received wisdom of marketing communications measurement, where the assumptions made five years ago cannot necessarily be treated as appropriate to the current situation.
Greenyer, A. (2006), "Measurable marketing: a review of developments in marketing's measurability", Journal of Business & Industrial Marketing, Vol. 21 No. 4, pp. 239-242. https://doi.org/10.1108/08858620610672605Download as .RIS
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