Frank Davidson, Strategic Resources VP at ZenithOptimedia in Boston, argues that the value of any marketing effort is essentially a function of three elements:
1 the change in the number of people with an interest in the company’s products;
2 the change in the amount of money these people would ultimately spend with the company if they were to make a purchase;
3 the change in the likelihood of these people purchasing (or similar, eg subscribing, contracting with, etc).
He notes that, ‘Ideally, these factors need to be accounted for over time – for example, a brand campaign doesn’t necessarily increase immediate sales, but over time sales should increase as the awareness and affinity ...