One reason why the 50% rule is no longer appropriate is the variety of measurement tools and techniques which enable marketers to quantify the impact of advertising activities. Qualitative and Quantitative analysis techniques combined with the 1000's of reports available from web2.0 channels means that information which demonstrates advertising effectiveness has never been easier to obtain. If you're organisation doesn't monitor their advertising for ROI purposes then it's probably a good idea to question why not. The only rational reasons for not tracking marketing ROI are the following:
- We don't need a higher marketing ROI - we're rich
- We've never thought about it
- We don't know how to check it
- We were told it wasn't possible
Next time someone quotes Wannamaker at you, ask them to name an organisation who still regard a 50% ROI from their advertising being regarded as acceptable. Please let me have the details and I'll go and help them out because it's no longer rocket science!