Marketing Performance Dashboard – Is it overstated?

When under the chairmanship of the late Lord Weinstock, GEC was generally considered one of the most efficient British companies of the past fifty years. Before Lord Weinstock’s retirement, GEC was known for its profits and cash mountain. This position of financial strength was credited to Lord Weinstock about whom, the story goes, that it was his daily habit of asking each of his main managers, how much money they had made that day. The story may be apocryphal, but the principle is there that in having regular management reports of their business progress, the managers were reminded of their responsibility for making money for the company

Measuring marketing performance highlights the ability of the management to convert marketing investment into profitable revenue. Thus marketing measurement provides a quantitative indicator not only of the efficiency of the marketing function, but also of the effectiveness of those individuals responsible for marketing management and generating profitable revenue.

For effective marketing management, there is no substitute for the quantitative measurement of marketing performance.