Brand awareness and ROI also contribute to marketing decisions.
According to a global study from UTS Business School, most brands rely on consumer satisfaction metrics to make their marketing mix decisions. Around 45% of brands factor awareness and 43% considered ROI in their marketing decisions.
This piece says that brands used metrics that seemed more strategic for the decision-making process. Metrics like target volume, likeability and net profits were some of the other measurement functions considered by the brands.
The report which studied 84 marketing and financial metrics found that on an average, managers used around nine metrics per marketing decision. Lead researcher Ofer Mintz, of the UTS Business School, says organisations with rigid structures were less effective than organic, “free-flowing cultures”.
[2 minute read]