Lloyd Melnick has a short and snappy book on customer lifetime value (which he terms LTV). At its best this is a useful insight into the games industry. There is a lot of detail there in a very easy to read form. For example, you will learn about ARPU (Average Revenue per User) and ARPDAU…
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Double Entry Bookkeeping
It is helpful for marketers to understand accounting. The phrase double entry bookkeeping has a tendency to put people off but that is unfortunate. The idea that each event is represented by two entries is an elegant one. Marketers can learn a lot from the strengths of such an approach. Double Entry Bookkeeping Aids Understanding…
The Role Of Budgeting In Organizations
One of the problems managers face with budgets is that budgeting has a variety of different roles. These roles can all be important but the roles sometimes conflict. Barrett and Fraser writing in the Harvard Business Review more than 40 years ago distinguished between three types of budgets: Capital (major investment planning), Financial (cash flow/bank…
Demonstrating the Financial Impact of Marketing Actions
Paul Magill, Christine Moorman and Nikita Avdiushko raise a major problem in marketing. Demonstrating the Financial Impact of Marketing Actions Critical To Show The Financial Impact of Marketing Actions As the authors say When we asked over 300 marketing leaders in the U.S. to identify the activities they find most challenging, the number one thing…
Catch 22 And Accounting For Employees
A theme of mine is the challenge that marketers have with financial accounting. Essentially most marketing spending is accounted for as an expense. This is even if it has the explicit intention to be an investment. This makes financial reports pretty poor for understanding the marketing of a firm. What about Human Resources (HR). We…
The Marketing-Accounting Interface
There is a lot of work linking marketing and finance. Unfortunately, at least from my perspective, nearly all of this has focused on linking marketing to financial markets. Such work is useful but I would like more looking at more diverse linkages between marketing and accounting. Sidhu and Robert’s article is an exception. They look…
Omni-Channel Distribution
At times marketing seems like it is only getting harder. Omni-channel distribution means more ways to communicate and sell to the customer. There is just some much to worry about. Showrooming New technology often drives new ways to communicate with and reach consumers. It also means many more opportunities. It also means many more challenges….
The Challenge of Not So Simple Marketing Performance Measures
Bruce Clark reviewed the history of marketing performance measures in 1999. He saw three main themes. “[T]he movement from financial to non-financial output measures, the expansion from measuring only marketing outputs to measuring marketing inputs as well, and the evolution from unidimensional to multidimensional measures of performance” (Clark, 1999, page 711). This raised the challenge…
The Data Gender Gap
Caroline Criado Perez’s book focuses on the challenges facing women in a world where the primary gatherers of data have been/usually still are men. It highlights the problem of data heavy systems not being as fair as the idea of impartial ‘math’ might imply. (See also here). The problem of what Perez calls the data…
Net Promoter And Lessons For Academic Research
I value academic work that speaks to the issues of managers and others outside of academia. The Net Promoter Score/System (NPS) is widely used by managers and so it can be valuable when academics look into this metric. What then can we say about Net Promoter and the lessons for academic research? Reviewing The Literature…