Marketing executives are under increasing pressure from CEOs to show a return on investment for their programs, but many are struggling with complex processes, technological difficulties and internal resistance to measurement systems, according to a report from The Conference Board.
Because measuring marketing return on investment (MROI) is still relatively new, many executives say they lack the technological and institutional tools necessary to measure their programs, the study found.
Lack of resources, lack of connection with performance objectives and inadequate focus are some of the primary sources of frustration. Major barriers to implementing MROI programs - largely related to issues of business infrastructure - include problems with data availability or integrity (47%), technology/infrastructure (41%), resource dedication (39%), and methodology/know how (22%).
This holds true for recruitment advertising initiatives as well. Are you eating through your budget with no solid results to report back to your boss? Are you purchasing online job board contracts blindly and just hoping that you make the hires needed to justify your spend at the end of the year?
Allow us to help. NAS can work with you and your account reps to collect all of the (back-end) job board data and develop analytic metric reports delivered to you each month for your review and consideration. The information from the analytics will allow us to see which jobs/boards are providing you the greatest ROI for specific jobs/locations, as well as any red flags that need immediate attention. This information will provide essential information for planning where to most effectively place current job openings, as well as providing you insight for renewals in 2010. Then when your boss asks to see the ROI, you no longer have to shrug your shoulders in defeat.
Contact your NAS representative for more information.
Source: “Marketing Execs Struggle to Show ROI”, marketingcharts.com, Jan. 22, 2009
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