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Crack the Marketing Performance Code
Crack the Marketing Performance Code
Crack the Marketing Performance Code
Crack the Marketing Performance Code
Crack the Marketing Performance Code
Crack the Marketing Performance Code
Crack the Marketing Performance Code
Crack the Marketing Performance Code
Crack the Marketing Performance Code
Crack the Marketing Performance Code
Crack the Marketing Performance Code
Crack the Marketing Performance Code
Crack the Marketing Performance Code
Crack the Marketing Performance Code
Crack the Marketing Performance Code
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Crack the Marketing Performance Code

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  • Definition of KPIs: Key Performance Indicators
  • Transcript

    • 1. Cracking the Code to Exceptional Marketing Performance How to be an “A” Organization
    • 2. Are you an “A?” Those few marketers whose leadership team assigned them “A” grade for their ability to demonstrate their impact to the business have adopted six principles of Marketing Performance Management to increase marketing ROI and contribution. 6 Principles of Marketing Performance Management:  Alignment  Accountability  Analytics  Automation  Alliances  Assessment
    • 3. So You Want to Be an ‘A?’
    • 4. Get in Alignment Here are the four challenges you’ll face:  Misalignment of marketing plans with business goals  Misalignment of metrics with expectations  Investments not matching intentions  Best practices continue to elude most marketers
    • 5. Get In Alignment “Best-in-Class marketers are significantly better in their ability to align marketing with business outcomes and clearly convey their impact and contribution to the organization.” Move the Needle: Novice: Don’t settle for vague outcomes like “Increase Market Share.” Make sure outcomes are specific. Intermediate: Establish performance targets for every marketing objective. Instead of activities, have quantifiable objectives tied to each business outcome . Advanced: Benchmark performance indicators relevant to your industry. Based on b’marking, develop KPIs for marketing organization.
    • 6. Create a Culture of Accountability Mantra: “Activities are great, results are better.”  A’s use metrics and dashboards to make factbased decisions and strategic recommendations. Predictive ActivityBased Operation al OutcomeBased LeadingIndicator
    • 7. Analytics are Awesome  Mantra: “To Move the Needle, You Must Measure” A’s leverage data, analytics and modeling to discern patterns, glean insights and predict outcomes. There are TWO Methods:  Mapping  Dashboard Development
    • 8. Mapping  “A mapping approach allows marketing the opportunity to define their own objectives by drilling down into more detailed analyses and metrics to improve performance.” To create a map, follow 5 steps:  Identify key business outcomes and select those that marketing can impact. Duh!  Define the initiatives marketing will drive to achieve the outcomes. We’re good at ideas!  Establish quantifiable, measurable objectives to support each initiative. How will we know we’ve achieved the goal?  Develop strategies for each marketing function that will drive the objectives. What will we do to move the needle?  Clarify each activity/tactic for each team member. Go forth and conquer!
    • 9. Mapping
    • 10. Dashboard Confessionals  “It’s often difficult to measure the impact of a download or a click through. In order to be effective marketing has to correlate the activity to the outcome and the business objective.” Five Stages of Dashboard Development:  Select Key Metrics. What are our KPIs?  Populate the dashboard with data. History is important!  Establish relationships b/w dashboard items. It’s obvious, isn’t it Watson?  Forecast and create “what if” analysis. What worked and how do we replicate it?  Connect to financial consequences. Money!!
    • 11. The Mechanics of Automation  Mantra: “With the right standards, systems and tools in place we can rule the world!”  Another way of looking at this: “We can’t manage what we can’t measure.” A’s invest in systems, processes and tools to track, measure and report results.
    • 12. The Mechanics of Automation Action Steps to Automation:  Determine key players in creating a marketing      automation technology roadmap Kick-start the process by evaluating and selecting an enterprise marketing platform to consolidate core marketing functions. Perform a “gap analysis” to find areas where services need to be filled. The enterprise marketing platform MUST provide access to all customer data and a connection to external and internal data sources. Empower marketing with comprehensive analytics. Armed with marketing analytics, marketers can now create dashboards to measure marketing results and make better decisions.
    • 13. Strategic Alliances  Mantra: “Marketing activities + IT solutions + Sales Team + Finance = Performance Driven Company!” A’s formally collaborate with the sales, finance and IT organizations. Move the needle:  Connect marketing programs to the customer buying process and demonstrate marketing’s impact on customer acquisition, margin and value.  Develop a Set of Operation Metrics:         Average Purchase Per Customer Average Renewal Rate Upgrade/Cross-Sell Conversion Customer Lifetime Value Customer Acquisition Cost Customer Retention Cost Share in segment and geography-velocity as well New Product Acceptance
    • 14. Assessment (Ignore it and It’ll make an a–outta me an you)  Mantra: “Opinions are for sissies. Data, analysis and rigorous measurement create better outcomes.” A’s benchmark and audit marketing performance with an eye toward continuous improvement. Move the needle:  Review Marketing Plans and assess how many of the objectives are measurable.  Conduct a marketing audit.
    • 15. SO! Are We an ‘A’ Marketing Team? • Alignment? • Accountability? • Analytics? • Automation? • Alliances? • Assessment?

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