This is Case Study number 1387 on why CFO's come down on the CMO's for R.O.I.
Mobile Commerce Daily Article on Taco Bell Mobile Coupon Campaign
I know all you 'Creatives' cringe. I know all you 'Branders' don't like this stuff. But us Finance/Sales folks need to measure stuff. And I am going to be the first to defend some things that help create value that are hard to measure. But when you come to me and report on the actions taken with Mumbo Jumbo like this article that would have me write off Marketing from the budget. Chihuahuas wearing Sandwich boards would be a better value.
In this case study Taco Bell signed up 13,000 people into a mobile coupon campaign. Taco Bell has 5,800 stores. It seems 600 participated. That's 21.6 people per Taco Bell signing up over 5 weeks. So 4+ per week?
This is a totally measurable campaign!!! And no one measured it? I will state maybe the data was not shared with the Journalist. Is that because the data sucked?
CFO: This campaign cost us $75,000? How much new business did we get?
CMO: We signed up 13,000 people.
CFO: We have 87 million unique customers in the US. How much new business did we get?
CMO: We sent out 29,000 coupons.
CFO: How many of the coupons were converted/turned in?
CMO: Well 93% stayed in the program.
CFO: Did they have a choice to stay in the program or know they could leave it?
CMO: Well 61% responded to our follow up survey?
CFO: Your fired.
Fact: This could of been a measurable success story if the CMO (Or Agency) could prove they made money or showed increased loyalty. But hey who measures profitability these days anyway?