WHAT IS MFM™ (METRIC-FOCUSED MARKETING)?
The art of marketing + the science of analytics
The mantra of MFM is: if you can’t measure, you can’t
improve. MFM is a scientific, unbiased, data-driven method
for improving your return on marketing investment (ROMI).
With this process, you can justify every
dollar you spend and track every marketing expenditure directly
to sales.
The history of advertising is a history of sales
Advertising has been used for thousands of years. The ancient
Greeks advertised sales of goods such as cattle by using street
criers. Roman poster advertising has been found in the ruins
of Pompeii and Carthage. During the Middle Ages, merchants used
handbills, notices, and street criers to promote their shops.
By the 1600s, newspapers ran ads promoting goods and services
from local businesses. With the rapid economic expansion that
began in the nineteenth century, advertising expanded as well,
helping companies compete for consumers. Advertising has always
been on the cutting-edge of every technological innovation, too,
from print to telephone to television to the Internet.
All of this advertising history, from the Greek market to newspaper
ads to e-mail, has one thing in common: all of these
actions were designed to promote sales.
This very simple notion, however, has gotten lost in the shuffle
of brand equity and consumer awareness and other vague, unscientific
marketing qualities. MFM brings marketing back to where
it belongs, an investment to generate sales. And like
any good investment, it gives you the best possible return on
your dollars.
A successful marketing plan is like a well-planned road
trip. You have a clear direction, milestones to chart your progress,
and an ultimate destination you wish to reach. 1508 uses MFM
to get you to that destination—greater ROMI—in the
most efficient way possible.
Statistics and strategy
There are just a few firms that measure marketing metrics. There
are thousands of firms that deliver marketing strategies. 1508
is the only firm that gives you both. Our metric-focused approach
makes us the sole marketing consultancy that:
- Performs the data analysis using our innovative
and proprietary analytical tools
- Generates marketing insights based on that analysis
- Develops a marketing mix to action plan
In short, we complete the loop between analysis and strategy. Metric-Focused
Marketing shows you what you should be doing and why it works.
Every action is benchmarked and accountable to sales. Can you
say that about your marketing today?
See how it works in our ROMI challenge
Take a tour of the 1508 process. These ROMI Challenge boards will show you how 1508 hurdles marketing barriers to increase ROMI for our clients.
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