If marketing is the battle for perception, then good marketing creates a perception that motivates people to buy a product or service. It is the perception (your personal vision of reality) therefore, that prompts action. Your perception can also create a warm and fuzzy feeling about the product, or company, that can also stimulate a purchase.
Your perception isn’t formed by one advertisement or one flight of cable spots or a billboard or even the ad that you saw this month (or was it last month?) Your perceptions are cumulative. Your thoughts about a product are amassed over time and include word of mouth, first hand experience and what you believe is true about the product
So how can you measure the ROI of a recent campaign? The answer is – consumers really don’t know why they buy a product at a particular time. No doubt it is a combination of all of the marketing elements. That is why all marketers preach multiple medias and multiple frequencies. Marketing effect happens over time.
Because of the difficulty in measuring ROI, some companies will be so conservative that they will virtually cease many of their marketing efforts. This is great news for those that keep marketing. In time those companies that consistently market the differentiation of their products and services will win.
Sometimes measuring marketing ROI is like watching a clock. It moves, but you just can’t see it.