Profit divided by spend. A formula so essential to marketers, it’s become almost a rite of passage among professionals, and absolutely critical to evaluating performance. But in reality, calculating and optimizing ROI can be much more complicated than you may think. Unlike other business functions, marketing departments can have an especially intricate supply chain. Whether it’s managing numerous vendors and partners, or multiple internal teams working with several agencies on hundreds of campaigns, there’s a whole lot to keep track of at any given moment. Here, we dive into an example of what a marketing supply chain looks like, and the biggest challenges it brings.
SEEING IS BELIEVING
Now you may be asking yourself — what in the world is a marketing supply chain and what does it have to do with my business? Well, you needn’t look further than your own day to day. What systems and tools do you use? What teams do you work with? Who did you hire to deploy organic and paid content? The answers to these questions are the beginnings of your very own supply chain. Not only can this go from zero to extremely complex in no time at all when you add in multiple sub-brands, but each component has it’s own focus, costs and data to keep track of as well. It certainly gives you some more perspective on just how big BIG DATA can get. In an effort to make this a little more concrete, we’ve mapped out an example of a common marketing supply chain:
Mapping Out Your Marketing Supply Chain Will Redefine Your Concept of ROI
