MARKETING PERFORMANCE : What type of marketing organization persona are you?
Hive9, USA valid and VisionEdge Marketing have just published the 2017 results of their annual Marketing Performance Management study. Find the study here.
Respondents rate the ability and quality of their marketing organization to measure its impact, value and contribution to the company’s business.
3 marketing organization people emerge from this study :
What type of marketing organization persona are you?
Marketing organization persona:
“Leaders” create value, contribute to the company’s business, and put the customer at the centre of their activity. They are the first in the class when it comes to driving marketing performance.
The “On Track” are more at the service of salespeople, focus on lead generation and opportunity generation, and measure marketing performance.
The “laggards”, on the other hand, are perceived as an internal agency that implements marketing activities, sometimes on demand, and is content to measure the results.
What differentiate Leaders from the 2 other groups
1/ Good judgement and quick decisions.
This requires understanding and aligning with business, having quality data, sound analysis, and the right indicators. Members of this group are able to draw knowledge from the data and link the different indicators to improve marketing performance.
While each group uses a variety of measures, the Leaders group shows more confidence and control in choosing the right metrics, and especially the metrics that are important to the management team.
2/ Integrated indicators
Group A uses a chain of indicators that make it possible not only to link the various marketing activities but also with sales revenues. In the other groups, indicators are used in isolation, and sometimes simply to measure the outcome of an activity. (not its performance)
3/ Relevant data
Leaders are more likely to use data to make strategic decisions, provided they have relevant data to use. This is not yet the case, even for this group, which must continue to work to make their data more relevant.
4/ Knowledge of Marketing Ops
Knowing the ingredients essential to marketing is one thing, knowing how to apply them is another. The study shows that teams with knowledge of Marketing Ops (Marketing Operations), i.e. processes, technologies and indicators, are found within Group A. The study shows a gap of up to 40% between Group A and the other groups in the following areas (in order of importance of the gap measured)
- Strategic planning
- Campaign reporting and analysis
- Anallytic and predictive model
- Benchmarking
- Reporting, and Performance Measurement & Monitoring
For the Leaders group, Marketing Ops facilitates planning, performance management, resource management, systems/tools and workflow to support the overall customer experience. This function develops and implements the processes, systems, tools and skills needed to link marketing to business results, which includes Sales alignement, no need to say.
It improves marketing effectiveness and efficiency, and is much more represented in Group A.
In conclusion, Group A is better able than other groups to improve the impact of marketing on the business of the company, especially in terms of revenue, customer acquisition and retention, AND generate opportunities – which is usually the first focus of Groups B and C.
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