ITSMA (the Information Technology Services Marketing Association) recently conducted marketing research, looking at 'performance management' and thereby answering the question whether marketers can show their value and that of their efforts to the business. I guess we know the answer.
The call for accountability and the demonstration of ROI has become louder since many years now. The question is why it remains unheard. The increasing technological possibilities in a rapidly digitizing marketing environment, allow marketers to prove (their) value. The formulas to measure ROI are known and documented.
The ITSMA report shows that (I quote) "marketing's satisfaction with its ability to measure, analyze and improve performance is shockingly low". Only 25% of marketers are able to measure and report the contribution of their programs to the business.
It's remarkable that most responding (technology) marketers utilize similar tools, among others in the area of marketing automation. So, what's the difference between those that are able to measure and report and those that are not?
Lessons from best-in-class marketers
Here is how the best-in-class marketers make the difference when taking a look at the report as mentioned by MarketingSherpa.
- They don't just align with other business units with a focus on effectiveness butoptimize marketing activities to achieve business outcomes.
- They are able toadjust their programs in real-timeand can determine what works and what doesn't using their marketing dashboards.
- They invested in data mining and modeling skills and managedataat the enterprise level.
- Marketing operations are empowered totransform marketing into a center of excellence.
- They implementintegration and interoperabilityinitiatives.
Being able to prove the impact of marketing efforts on business is becoming a must. In fact, it is since a long time and it's just a matter of time before it will be for you. An important question is whether marketers will see how an integrated view with strong metrics, a focus on business outcomes, robust processes and an integration of marketing automation and CRM helps them in having better outcomes.
Of course, they also need the right data and dashboards to track these outcomes and improve where and when needed. Needless to say that modeling, cross-channel analytics and increasingly predictive analytics play an important role in this capacity as well.
But in the end, alignment and integration, internally and externally, will decide on whether marketers can prove their value or not.
Guest post by J-P De Clerck
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