In this interview, Brand ManageCamp 2006 speaker, Managing Partner of Marketing NPV and author of "Marketing by the Dashboard Light." Pat LaPointe, explains the concept of Marketing Dashboards as a method of communicating the full return on a full range of marketing investments. The problem to date, as Pat explains, has been that there organizations have been trying to calculate ROI in a formulaic point-in-time way as opposed to measuring the growth of their key asset values. In addition, there hasn't been a way to both capture all the complexities involved in measurement AND be able to present it to the the organization's leadership in a simple, concise, easy to understand manner. Pat's thoughts regarding the Marketing Dashboard go beyond just the mediums and activities traditionally monitored (i.e., TV, radio, print) to include a total ROI view that encompasses all spends - including new media and nontraditional.
Pat goes on to describe the concept of Customer Franchise Value - which requires a mindset change from measuring ROI at a single point in time to looking at it dynamically over the course of years. This addresses the age-old dilemma of trying to justify an spend in Year 1 that you know will actually pay dividends over a longer period of time.
To learn more about Marketing Dashboards, check out MarketingNPV.com