The role of marketing metrics for achieving marketing accountability

Abstract

This thesis investigates the concept of marketing accountability that is growing in importance day by day. In times of scares resources companies are required to justify spending on marketing. The demand for marketing accountability stems from the need to connect investments in marketing with measurable business outcomes. Thus, marketing managers need to go beyond the traditional, creative function of marketing and quantify their marketing activities. The use of marketing metrics is one of the most popular practices in establishing marketing accountability within an enterprise. This thesis explores the use of marketing metrics along with digitalization, and the role they play in enchasing marketing accountability in the context of business operating in Bosnia and Herzegovina. Additionally, besides assessing the current use of metrics, the thesis uncovers the managerial motivations behind metric selection and their impact on marketing effectiveness. By employing a qualitative approach, in terms of telephone interviews, the research resulted in detailed insights and findings. The findings reveal how business in Bosnia and Hercegovina approach marketing metrics and marketing accountability, the use of marketing metrics and the practical challenges marketing managers face whilst implementing marketing accountability practices. Along with demonstrating the benefits of a systematic approach to marketing accountability, the thesis provides recommendations for businesses in Bosnia and Herzegovina aiming to enhance marketing accountability.