If you can’t measure it, you can’t manage it was the theme of the presentation held by Catharina Stackelberg at an annual seminar on tomorrow’s tourism held by BI Norwegian Business School. The tourism industry in Norway is large and annually the Norwegian state contributes approximately €125M to promote the many tourist destinations.
Most marketing managers agree that marketing measurement is important, but still the measurement level in the Nordics is low leaving significant room for improvement. In order to measure the marketing performance, it is important to understand the basics of marketing, such as:
1) Which marketing activities drive equity and which drive short term sales
2) How high marketing ROI is and what is the relationship between the customer value proposition (what you promise) and marketing mix (what you do) Organizations vary widely in their ability to exploit analytics, and this prevents many companies from realizing the full potential of their marketing spend.
Still the place for all companies to start is by becoming more accountable as to what return your tourism destination gets from its marketing investments.