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The Human-Tech Equation for Improving Marketing ROI

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The Human-Tech Equation for Improving Marketing ROI

Boston Consulting Group,

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If your company doesn’t know its ROMI (return on marketing investment), fix your data and find out.

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How does your company’s marketing department decide where to allocate its marketing dollars? A hunch and a wing and a prayer? That may have worked in the marketing world of yesteryear, but current times require a better-informed approach. If you don’t know the ROI for each of your marketing initiatives, your company may be throwing good money after bad on ineffective programs. In this special report, the Boston Consulting Group lays out the principles behind spurring organization-wide support for measuring marketing impact.

Summary

Most companies don’t have a systematic way of assessing ROMI (return on marketing investment).

What percentage of your company’s marketing decisions are data-driven? A 2020 study from Gartner suggests that only 54% of marketing decisions are informed by marketing analytics, meaning that many companies haven’t been taking advantage of the rich data available. This was true when collecting data has been relatively easy; now privacy and data laws are becoming more intricate at a time when consumer habits are changing rapidly. 

Fortunately, as artificial intelligence progresses, marketers will receive even more powerful tools to ensure wise spending of marketing dollars. Marketers can go far with the right technology, but they’ll be able to...

About the Authors

David Galley, Matthieu Charpy, Derek Levesque, David Ratajczak, Jessica Apotheker and Nicolas de Bellefonds are professionals with the Boston Consulting Group.

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