Peter Fader and Bruce Hardie are experts in understanding the value of customer relationships. They have offered advice on problems with CLV calculations, especially those taught in MBA programs. They ask: “What’s Wrong With This CLV Formula?” Five Issues They outline five issues. Many of these are things to bear in mind that we might…
Author: neilbendle
Neil is an Associate Professor Marketing at the Terry College of Business, University of Georgia. He investigates the measurement of marketing performance, the accounting/marketing interface, and the impact of non-standard decision making in commercial and political markets.
Neil is the Chair of the Marketing Accountability Standards Board advisors. He is co-author of Marketing Metrics: The Manager’s Guide to Measuring Marketing Performance (3rd edition) Wharton School Press and is co-author of a cartoon book: Behavioural Economics for Kids.
The Three Stages of Business Analytics
Thomas Davenport is one of the best know voices in the field of business analytics. He has a book with Jinho Kim which discusses how individual business people can best manage their work in a world where analytics are a key part of many business strategies. The aim of the book is to enable managers,…
The WAITA Model — How To Decide Upon Marketing Metrics
I recently published a short piece for WARC Best Practice on “How to set marketing metrics effectively”. The basic idea behind the piece is an explanation of how to decide upon what marketing metrics to use. This work introduces a new acronym that I’ve produced called the WAITA model. Hopefully, this is easy to remember. Why call…
The Red Queen And Implications For Best Practice
It is hard to spend any time at a business school without hearing the phrase best practice. We teach students best practice. Junior professors seek hints from senior folk on best practice. Even schools regularly go through bouts of benchmarking to see if they are adopting best practice. Best practice essentially is something that gets the most…
The History of Reporting on Brands
Roger Sinclair shows the value of experience when he surveys the history of reporting on brands. (Roger made a large number of contributions to the field of marketing accountability. I had the honor of presenting Roger’s family with the Blair Award for Marketing Accountability at the 2019 MASB Summit see here). When Firm’s Reported Their Brands…
Understanding Brand Valuation
Marc Fischer explains common methods of brand valuation. His work is useful in understanding brand valuation. Different Methods Of Brand Valuation One of the problems he highlights is that there are so many methods. Different companies have their own proprietary valuation systems. He groups these into three main approaches; a cost-based approach, a market-based approach, and an…
The Marketing Finance Partnership
Jim Meier, (an executive at MillerCoors), is an expert on getting marketing and finance to work together. Let’s call this the marketing finance partnership. He has written a fascinating chapter on the problems of doing this. Perceptions Of Marketing The portrayal of marketers through the eyes of finance people is amusing. Still, it isn’t pretty….
CLV In The CPG Industry
V Kumar (the editor of the Journal of Marketing) and student Sarang Sunder have undertaken a review of the use, and potential use, of Customer Lifetime Value, CLV in the CPG industry. (CPG being consumer packaged goods, think P&G, General Mills). Challenges For CPG Marketers The authors talk about the problems that CPG marketers face…
The Long-Term Impact Of Advertising
One of marketing’s greatest challenges is that its benefits are often long-term. Spend now, gain later. What is the long-term impact of advertising? Measuring The Long-Term Impact Of Advertising Long-term benefits can be very tough to measure. This is especially true when lots of other activity is happening at the same time. For an analogy…
A Common Marketing Language
A major problem in marketing is that one often has only a general idea of what another marketer is speaking about. “Unfortunately, marketing still does not have that commonality of terminology” (Farris, Reibstein, and Scheller, 2016, page 46). We need a common marketing language. We Lack Shared Meanings A marketer will talk of loyalty and…
