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World Class Marketing Assessment
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World Class Marketing Assessment

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World Class Marketing Assessment World Class Marketing Assessment Presentation Transcript

  • Description of Best Practices Importance Competency Notes/Comments Dashboards, Scorecards, & Metrics - we have defined metrics and targets for our programs (scorecards), and a process to collect and report on our metrics with a dashboard. Analytics - we have analytics software, data warehouses,reporting capabilities, and the skills required to make forward-looking decisions (such as revenue prediction) based on our business data. 5 4 1 1 3 5 2 35 Strategy & Measurement Brand Strategy - we have a specific strategy for our brand(s) with objectives, initiatives, targets, and metrics. Process Documentation - we have documented and standardized all of our key marketing processes such as product development, strategic planning, campaign execution, program measurement, purchasing, contracting, etc. 3 Prioritization - we have a process and an analytical tool for logically prioritizing all requests for marketing projects. 5 World Class Marketing Assessment Rank the following best practices based on their importance and your level of competency with the drop-down menus provided. 4Aligning Marketing & Sales – we have a process for aligning sales and marketing around common business objectives that yields dramatic improvements in marketing ROI and sales productivity. 4 3 Operational vs. Strategic - Marketing has a seat at the boardroom table, provides proactive & strategic leadership and does more than just complete operational requests for marketing services & support to the business. Marketing Budgets - we utilize a zero-based budgeting approach in our marketing planning process, and are inline with industry benchmarks for revenue/marketing spend ratios. 4 5 Marketing Plans - we have documented marketing strategy and product marketing plans. 4 5
  • Description of Best Practices Importance Competency Notes/Comments Description of Best Practices Importance Competency Notes/Comments Positioning Statement - we understand and have crafted and refined our positioning statement & value proposition. Website, SEO & Blogs - we have a great website/blog that has been SEO optimized and receives adequate traffic. 3 Mobile Marketing - we have a defined mobile marketing plan that includes a mobile website, applications, etc. 4 Marketing Communications Plan - we have a documented marketing communications plan that includes strategies for enaging all of our key stakeholders both inside and outside of the organization. 5 3 3 4 Content Marketing - we have a content production engine that is driving awareness, affinity and new business and we use both traditional forms such as case studies and whitepapers and modern forms such as infographics. 2 Product Management Strategic Communications Public & Analyst Relations - we are happy with the coverage we receive in the media and by analyst firms. 1 2 Social Media - we are leveraging social media channels effectively to communicate with our customers. 5 2 Video - we are using video effectively in our communications and can produce videos in-house if necessary. 5 1 4 Product Development Process - we have a standardized process for developing and launching new products. 5 1 5 Competitive Analysis - we have a defined process for competitive analysis (e.g. SWOT) for strategic review. 3 4 3 3Market Research - we do secondary research and/or hire market research firms to conduct primary research such as surveys and focus groups to better understand market conditions. 2
  • Description of Best Practices Importance Competency Notes/Comments 1 Pricing - Marketing does formal pricing analysis to evaluate variables such as price elasticity of demand. 4 Industry Analysis - we regularly perform a PEST industry analysis to explore the implications of Political, Economic, Social and Technological conditions in our market. Customer Referral Program - we have a formal customer referral program that brings us lots of new business. 4 Customer Satisfaction - we measure Net Promoter Score to gauge customer satisfaction levels. 5 Customer-Centricity Market Analysis - we do market sizing analysis, segmentation, and segment prioritization regularly. Customer Loyalty - we have programs in place to measure and optimize customer retention and loyalty. 4 3 3 4 5 4 3 4 2 1 Customer Metrics - we track retention rate, customer lifetime value (CLV) and cost of acquisition metrics. Customer-Centric - our business is market focused and customer-centric rather than product-focused. 3 Customer Support - we have service level agreements (SLAs) to set expectations with our customers in terms of support provides and response times. 5 Market Requirements - our Marketing Plans are based on information gleaned from real market insight and data such as formal Market Requirements Documents prepared by our Product Marketing & Brand Managers. 1 2 3 4 Online Community - we have an engaged online customer community that we use for support and idea validation. 4 1 3 3Market Research - we do secondary research and/or hire market research firms to conduct primary research such as surveys and focus groups to better understand market conditions.
  • Description of Best Practices Importance Competency Notes/Comments Description of Best Practices Importance Competency Notes/Comments Sales Enablement - we have an online sales portal that contains all of our sales support materials and has analytics to tell us which content items are being downloaded, viewed, etc. by our sales team and channel partners. 4 1 Sales Tools - we regularly develop sales tools such as playbooks, competition references, proposals, scripts, etc. 5 3 Marketing Collateral - all of our collateral and marketing materials are up to date and accurate. 5 4 Sales Training - our sales training programs are up-to-date and follow best practices methodologies. 4 2 Tradeshows & Events - we know the ROI for each tradeshow we attend, and plan/manage our events efficiently. 4 1 1 Inside Sales - our inside sales team is measured for productivity and keeps our pipeline full of qualified opportunities. 5 Direct Marketing - we are competent with email and direct mail marketing and achieve open and click- through rates above industry averages. 5 2 Advertising & Sponsorships - we have a process to assess the effectiveness of our advertisements and sponsorships and are satisfied with the amount of leads we can generate through our campaigns. 3 Customer Referral Program - we have a formal customer referral program that brings us lots of new business. 4 1 Lead Generation 2 2Marketing Automation - we have automated lead scoring and lead nurturing programs in place. 4 Sales Enablement & Support 2 2Webinars - we have a successful webinar program in place. We often get over 200 people to attend our webinars.
  • 4 Sales Tools - we regularly develop sales tools such as playbooks, competition references, proposals, scripts, etc. 5 Partnerships - we effectively manage our channel partners and have visibility into their pipeline of new business. 5 2 Sales Process - we have a defined sales process that aligns to the buying process for our industry. 5 4