Foresight ROI recently went through a visioning process to help set and guide the course of our company’s future. This was an enlightening process, and it often became personal, but it resulted in a very clear purpose, set of core values and a unifying vision that will guide every decision about the future we make.
One personal sentiment we had in common was a very aspirational one: To change the course of marketing today. For an analytics-based company, this means making measurement and decision-support central to our mission. Generating models out of Big Data is a core competency, of course, but generating tables of coefficients that remain untapped in a spreadsheet is an exercise in false value.
Creating a currency out of our analytics for our clients quickly evolved as our vision. The book “Moneyball” by Michael Lewis about implementing an analytics-based approach to assembling a competitive baseball team became our focus.
As founding members of the Marketing Accountability Standards Board, we believe in their mission of continually improving marketing:
Establish marketing measurement and accountability standards across industry and domain for continuous improvement in financial performance and for the guidance and education of business decision-makers and users of performance and financial information.
At the end of 2015, I did a quick tally of our roster of clients and found an interesting dynamic. Our multi-year returning clients saw a 25% increase in their stock price while the general market was flat to slightly down (Dow Jones down -0.6%. Our first time clients saw about a 4% stock price increase. Obviously, there are a lot of factors involved in the stock price increases and Foresight may just be a small part of their success…but it is very telling to me that those who measure in every aspect of their business, win!
Thus, our vision is a simple one: If our clients win, we win. We will be sharing our observations and stories of success in these blog pieces. We welcome your comments and points of view as we follow our journey to change the course of marketing today.