- 1.1 What Is a Metric?
- 1.2 Why Do You Need Metrics?
- 1.3 Marketing Metrics: Opportunities, Performance, and Accountability
- 1.4 Choosing the Right Numbers
- 1.5 What Are We Measuring?
- 1.6 Value of Information
- 1.7 Mastering Metrics
- 1.8 Where Are the "Top Ten" Metrics?
- 1.9 What Is New in the Fourth Edition?
- 1.10 New Developments in the World of Marketing Metrics
This chapter is from the book
This chapter is from the book
This chapter is from the book
1.9 What Is New in the Fourth Edition?
The fourth edition of this book has significant changes. In addition to reviewing and clarifying the text from the third edition, we have included a number of major additions.
First, we now have a dedicated focus on sponsorship metrics, which we have included in Chapter 10. How much firms benefit from sponsorship is a topic that is both fiendishly difficult to measure and also critical for many of them. One need only think of how much Visa, Coke, and various beer companies invest in their partnerships. Sponsorship is often a strategic decision involving large commitments of resources over extended periods of time, such as when naming a stadium or sponsoring a golf or tennis tournament. We hope that this new edition will positively contribute to bringing more standardization and accountability to sponsorship so marketers can feel more confident in their investments.
Second, we have added sections in Chapter 12 on the interface among financial markets, accounting, and marketing metrics. We have provided this information for marketers who are involved in C-suite decisions or who hope to be in the future. Chapter 12 outlines difficulties in assessing the impact of marketing on the ultimate financial objectives of a publicly listed for-profit firm. We also note challenges marketers face in using financial accounting data for their decisions.
Third, in the 15 years since the first edition of this book was published, “omni-channel” has become a major marketing concept. In a new section, we outline how marketers can measure their activities where there are multiple channels and sources of communication that consumers may access as part of a single purchase decision. We look at channel dependencies, how search and distribution interact, and online distribution metrics. We have broken off distribution measures from sales and created a new Chapter 7 featuring the new metrics.
Fourth, a completely new section of the book outlines changes that have occurred in the world of marketing metrics and accountability. We note progress that is being made by MASB on creating more discipline in marketing measurement. We highlight work by the International Organization for Standardization (ISO) at a multi-country level to improve brand evaluation.
Finally, in addition to these major changes, we have added some individual metrics such as Return on Advertising Spend.
We very much hope you enjoy this new edition of Marketing Metrics.