where marketing and finance agree on measurement for creating value
As the era of “financial engineering” for growth winds down, marketing professionals are stepping up, beginning to master and apply the science of measurement and process management to the art of marketing. This fundamental change will usher in a new era of marketing accountability that will drive consistent growth, with improved methods for measuring, forecasting and improving the effectiveness of marketing activities and a narrowing of the gap between marketing efforts and financial outcomes.
MASB is enabling this transformation by serving as the independent, private sector, self-governing body, establishing measurement and accountability standards across industry and domain for continuous improvement in financial return…attending to measurement as the foundation and catalyst for advancement.
It began with The Boardroom Project, a visionary initiative by industry professionals and academics who saw an opportunity to increase the contribution of the marketing function through the development of standards for measurement and processes that link marketing activities more objectively and more closely to the financial performance of the firm.
The development of generally accepted and common standards will enhance the credibility of the marketing discipline, improve the effectiveness and efficiency of marketing activities, and enable continuous improvement over time.
MASB represents an unprecedented opportunity to make a significant contribution to the marketing profession, business overall, and society at large. All are encouraged to engage with MASB and contribute to the realization of this vision.
The Marketing Metric Audit Protocol (MMAP) is a formal process for connecting marketing activities to financial performance.
An example of how to evaluate marketing metrics according to MMAP, the learning from using an “ideal” metric over time, and how to improve return by applying to better marketing practice.
The characteristics, practices and processes underlying the development and management of an “ideal metric.”
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