Open Results
Open Results means developing a common currency for marketing communications. The problem with many objectives currently in use is not only that they load the dice when it comes to planning, but also that they make it difficult to compare apples with oranges.
Furthermore, picking up on the theme of Hard Edged Marketing last quarter, open results means developing goals that really matter, rather than just following convenient measures. Take for example the dominance of awareness as a measure and goal of much marketing communication. (Some 45% of pay by results schemes currently use advertising awareness as the basis for assessing performance despite the weakness of correlation between awareness and market share). Awareness is popular because it is the easiest way to evaluate a general ad. But once mass awareness is formulated as the simplistic objective, it tends to drive mass communication solutions that are unlikely to optimise overall results.
Furthermore, building on open relationships, the research recommends more payment by results, with separate payment for different aspects of the project, such as initial planning, execution and media independently, while also including an element of team performance bonus, practices that are all already in use by major brands.
Open Results means
- Defining more precise communication objectives and priorities
- That also provide a level playing field for every agency, discipline and medium to contribute to their maximum ability
- And the also enable the analyst to benchmark performance in a meaningful way
- While supporting and encouraging a culture and practice of team learning.
The research suggests ways and tools to achieve this.