How many marketers does it take to calculate ROI?

None. There’s a lot of talk about ROI, but no one’s got the time, money or the inclination to do the math.

Sorry, just thought I’d open with a little joke as in a live presentation.

Speaking of live presentations, have you ever accepted an invitation to make a presentation on a subject with which you have very little personal experience or knowledge?

That is currently my predicament.

I am presenting a keynote speech at the Measuring Marketing ROI conference in London next month. The title of my presentation is “Why many pharmaceutical marketers ignore ROI and rely upon anecdotal evidence.”

I’ve had plenty of time to prepare my presentation, but I have done practically nothing so far to put my slide deck together. I’m beginning to feel the pressure building and I need help.

Of course, although I have practically no experience measuring marketing ROI, that doesn’t stop me from having an opinion based on conferences I’ve attended and watching marketers ignore ROI. In fact, I’ve commented on this issue in at least several posts to this blog. See, for example, “Do Pharma Marketers Need a Thick Skin or Will a Thick Skull Suffice?” and “Rozerem Ad Spending Exceeds Sales!

But that is the limit of my knowledge. So, I would really appreciate your insights on this topic, which I also hope to write up in an article for the Feb issue of Pharma Marketing News.

Here’s my keynote outline:

Why many pharmaceutical marketers ignore ROI and rely upon anecdotal evidence

  • Are marketers artists or mathematicians? [It’s obvious (or maybe not): Marketers are not daVinci’s — they are not good at combining art and science.]
  • Right brain vs. left brain thinking
  • Creativity vs. accountability
  • There are very few awards given for the latter, but many for the former
  • Can six sigma be applied to marketing?

If you have any insights into these bullet points, please post them in the comments section of this post below.

If you are a member of the Pharma Marketing Roundtable Forum, you can participate in the discussion thread located here. (You have to be a member to access the forum. To join the Roundtable Forum, fill out the Roundtable Membership Request Form.)

If I use your pearls of wisdom in the article or presentation, I will be happy to give you credit if you identify yourself. Anonymous comments are also welcomed (don’t worry, I won’t tell Congress).

Full disclosure: I am working with the event organizers (ViB Events) to help them promote this meeting. I am not getting paid to be a speaker or even to promote the meeting, but they are paying for most of my travel expenses — not including food other than that included during the conference.