When Cabinet Secretary Monique Jacobson recently presented her department’s spending request before the Legislative Finance Committee, she was preaching the metrics of Moneyball.
The Tourism Department used to spend more than $100,000 a year to staff trade shows. But that’s no longer how vacationers make their travel decisions, so most of the dollars were redirected to Internet-based advertising. And Jacobson said she has the data to show it worked.
Likewise, the state had a small budget to promote New Mexico to foreign travelers. But no matter how much was spent on global marketing, the percent of foreign visits did not budge — and Jacobson has those numbers, she told lawmakers.
It’s no surprise the data-driven approach to budgeting was applauded by both Democrats and Republicans, who have seen scarce taxpayer dollars go out the door. So now, policymakers want ROI — return on investment.