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Convergence Marketing: Combining Brand and Direct Marketing for Unprecedented Profits by Richard G. Rosen

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8
REAL-TIME ACCOUNTING
Numbers That Will Set You Free
 
 
 
Today is always a good day to make profits. Real-time accounting reaches far beyond our current performance measurements because the ad budget will not be based on some percentage of last year’s sales, which is the way we’ve always done it, I know. Please strike that justification from your vocabulary! Real-time accounting uses performance measurements based on the expected value of the new customer over a specific set time. More specifically, we invest in considered budgets, seize the win in the present, and reinvest to continue generating sales by taking calculated risks in known market conditions. Never knowing what one customer will do, we can comfortably rely on the power of the test statistic, which tells us what many will do, based on a confident past. We drive the investment and reinvestment strategies needed to win in our globally competitive markets. When we’re able to see the positive results of our spending in both the short and long term, everyone from the C-suite down will want to keep on investing. Real-time accounting lets you drive brand and demand over and over again with consistency—the best way to kill your competition.

WINNING BIG WITH MICHAEL DELL

Michael Dell knew how to use real-time accounting and take calculated risks to win big. I think that’s why he was so much fun to work with back in the early 1990s. It was an exciting time, and I was constantly being summoned back to Austin to strategize ...

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