Though marketing plays a major role in driving organizational growth, it is often difficult for marketing executives to demonstrate how their initiatives have explicitly impacted a company's bottom line.
To rectify this, a recent article in the Harvard Business Review describes eight ways to measure the tangible effects of a marketing strategy, compiled based on discussions with both marketing chiefs and other C-level executives.
1. Start with business value.
2. Understand what business value means to each function.
3. Know your own metrics.
4. Explain the inherent uncertainties of marketing measurements.
5. Emphasize validity over precision.
6. Have a budget story.
7. Have a marketing transformation story.
8. Meet one-on-one.
Read more here.