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Measuring Effectiveness in Marketing
The recently published Chartered Institute of Marketing's Summer Marketing Trends Survey shows that measuring marketing effectiveness is becoming an increasingly important skill for today's marketer.
The Marketing Trends Survey quizzes professionals across a broad platform of industry issues, and all respondents are in a position to give detailed information about their company's current and planned marketing activities.
When asked about the competencies needed by marketers today, measuring marketing effectiveness came in at number three in the ranking of vital skills. 'People management' topped the list, but the survey shows that although people management skills are important, many senior marketers are beginning to recognise the day-to-day importance of measuring marketing effectiveness.
It seems that the link between measuring effectiveness and corporate success is one that is becoming more widely recognised. The common denominator across all sectors is the ability to understand and play a part in the formulation of marketing strategy and from that to build effective marketing plans.
'A really good understanding of your customers will help. You can divide your customers into three: current users (your biggest asset) lapsed users (particularly important if you are losing market share) and potential customers (your source of growth). For marketers who can demonstrate this understanding, mobility between sectors is, generally speaking, a straightforward process', says David Thorp, Head of Training Development, The Chartered Institute of Marketing.
Over and above marketing skills it is helpful if marketers can demonstrate good interpersonal skills, especially if moving into team management, good listening skills to understand the needs of people in the new environment and the ability to cope with change.
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