Before approving a major marketing initiative, boards should apply a simple test: Strategic Fit, Evidence of Impact and Risk Assessment.
Strategic Fit asks whether the proposal aligns with the company’s mission and long‑term goals.
Evidence of Impact examines the logic connecting the initiative to revenue, reputation or resilience, supported by data or strong hypotheses.
Risk Assessment evaluates both downside risk (brand damage, regulatory issues) and opportunity cost (what else those resources could do).
If a proposal scores poorly on any of these three dimensions, refine or reject it. This test prevents reactive spending and ensures marketing investments serve the business at the highest level.