2014 ITSMA/VEM Marketing Performance Management Survey The Link Between Marketing Performance Management and Value Creation
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Marketing organizations are under more pressure than ever to create business value. Yet only ¼ of marketers say they are able to measure and report the contribution of its programs to the business. ...
Marketing organizations are under more pressure than ever to create business value. Yet only ¼ of marketers say they are able to measure and report the contribution of its programs to the business. What separates the “A” marketers from the rest? The “A”s have the right mindset, believe it’s possible, and make measurement a priority. In addition to the right mindset, the “A”s have nailed the five fundamentals of aligning marketing activities to business results.
1. They get clarity around the business outcomes that matter the most by speaking the language of the business and having regular two-way dialogue with senior executives.
2. They track and report outcome metrics that measure impact, not just metrics that track activity, output, and marketing efficiency.
3. They set quantifiable performance targets for every program and activity.
4. They use data chains to create clear lines of sight between marketing investments and business outcomes.
5. Finally, the “A”s use marketing dashboards to track its effectiveness but also to communicate impact on business outcomes, allowing them to justify additional budget.
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