Your central question:
Am I cost or revenue?
As a marketing leader you must constantly prove that marketing delivers financial returns. Why? If the organization knows your work delivers a return, the decision makers will give you additional money for your important marketing projects.
To better understand what we’re talking about, let’s look at the work of former Ford CMO, Jim Farley.
Soon after Jim left Lexus to join the company in 2007, Ford, like most US car manufacturers, got hit by the financial crisis. Its already slowing sales nosedived, and in 2008 Ford was posting major losses.
Jim knew that brand preference had a big influence on purchases, and that Ford’s image was in tatters. He felt that ...