It is extremely challenging to get marketing metrics pieces published at top marketing journals. One challenge is that often that journals want something “new” and investigating what managers do doesn’t seem new. This is a real shame as it encourages the growth of the split between academics and practitioners which seems quite dangerous for both. Academics become increasingly irrelevant and find it hard to justify the cost of their courses, while practitioners have fewer barriers to being sold whatever nonsense is flavor of the month.
Great To Get Published On Marketing Metrics
Given this I am impressed by Ofer Mintz and his co-authors who do a detailed look at what metrics are useful for marketing mix decisions. This is a good step in the right direction. There remain challenges — it is really hard to tie up what managers say to objective outcomes and so the authors use self-reported decision outcomes. Highlighting this shouldn’t be seen as a criticism. We need to come at problems from multiple angles as no single angle is going to work perfectly.
What Do They Find?
The authors say “we find three customer-mindset marketing metrics – awareness, willingness to recommend, and satisfaction – are consistently effective for managers to employ across most marketing-mix decisions. These metrics, when employed, are consistently found to significantly improve marketing-mix decision outcomes.” (Mintz et al., 2020). This gives food for thought about what we are recommending to managers and how they can improve their decisions.
Read: Ofer Mintz, Timothy J. Gilbride, Peter Lenk, and Imran S. Currim (2020) The Right Metrics for Marketing-Mix Decisions, International Journal of Research in Marketing, https://www.sciencedirect.com/science/article/abs/pii/S0167811620300616