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Best-in-Class Marketers Prove They Create Value

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In 2000, the Advertising Research Foundation probably didn’t realize that their report about marketing’s ability, or lack thereof, to measure its value and contribution would initiate numerous studies, conferences, and products on the topic.

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Efficiency vs. Effectiveness Metrics

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Here’s an easy way to distinguish whether your metric is one or the other: If the metric is measuring how well you squeeze out waste or cost or measure maximum output for input, it’s most likely an efficiency metric.

Free Benchmarking–Does Your Marketing Measure Up?

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Here’s something we know after conducting the marketing performance measurement and management study since 2001: Best-in-Class marketers are relentless when it comes to continuous improvement. Uncategorized Best Practices CEO CFO COO marketing accountability marketing alignment marketing analytics marketing data marketing management marketing measurement marketing operations Marketing Performance marketing performance management marketing performance measurement measuring marketing

The Five Metrics that Must be on Your Marketing Dashboard

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This will reveal how to measure marketing’s value. Marketing Measurement Marketing Performance Pipeline Metrics dashboard Marketing marketing dashboard Metrics by Laura Patterson, VEM and Julie Schwartz, ITSMA.

Customer Conversations: Identifying & Measuring Your Marketing Campaign Goals

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The point I attempt to make in these conversations is the same: If you don’t know what you’re aiming at, how can you measure whether you hit it? . Plan how to measure your results. . Plan how to measure your results . Measurement cannot be an afterthought.

3 Attributes to Extend Your CMO Longevity

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Uncategorized accountability alignment CMO customer centricity Marketing marketing accountability marketing alignment Marketing Effectiveness Marketing Performance marketing performance management marketing performance measurement marketing ROI measuring customer loyalty performance management strategic marketing VisionEdge Marketing As 2013 winds down and we prepare to enter 2014, there are bound to be a few changes in the CMO line up.

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4 Steps to Guarantee Your Strategy’s Success

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The first year’s goals may be measured because they are often tied to bonus thresholds, it’s the follow through that tends to slip. Uncategorized data marketing alignment marketing data marketing metrics marketing plan marketing strategy measurement Strategic Plan The importance of good planning and execution seems obvious to most of us, and as we continue creating and finalizing our plans for 2014, that importance is even more evident.

Analytics: The Essential Ace in Every Hand

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Marketing Measurement and Dashboard. None of us would agree to play a card game with cards missing from the deck; we would know that the odds of winning would be significantly diminished. Yet surprisingly, many marketers are willing to implement marketing programs sans analytics. In the past few weeks I have attended several marketing conferences. At each event, marketers are talking enthusiastically about how to make Web sites, SEO, social media, email campaigns, and mobile better.

Just Add Data: Some Assembly Required

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Without the data, it would be difficult to measure marketing’s value, determine how well marketing is moving the needle, and/or how well marketing is aligned with the rest of the organization and the overall strategy. . It will also be important to have a process for evaluating aspects of the organization that are hard to measure. Uncategorized marketing alignment marketing analytics marketing dashboard marketing data marketing measurement marketing metrics

Craft a Killer Sales Playbook

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A sales playbook is a collection of tactics or methods that characterizes the roles and responsibilities for you (and your sales team), lays out clear objectives, identifies metrics for measurement, and provides a common framework and approach for closing sales. The Sales Playbook, Defined.

Customer Conversations: Identifying Revenue Opportunities Using Customer Analytics

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With that in mind, I asked her whether her organization uses metrics such as profit margin, customer value, customer lifetime value, and customer acquisition (quantity, cost and time dimension) to measure the value of her group.

Translate Data into Business Value with These Four Tips

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” These folks are tasked with turning data into actionable insights and these insights turn into knowledge the company can use to make decisions, measure and manage performance. . Itemize the information you will need to achieve the business objective and/or measure your performance.

Customer Conversations: The Value of Adding Data & Analytical Skills

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How will his contribution be measured? . Jamie, the VP of Marketing at one of our manufacturing companies, in a recent conversation expressed excitement about securing someone from the finance group to support marketing data and analytics. “It

Measuring Influencer Marketing

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Before we jump into how to measure influence marketing, we’d like to respond to a question we’re frequently asked, “What is the difference between influencer marketing and public relations?” Should this be a viable strategy for your organization, you may want to think beyond counting, and create a way to measure influence. ” As with many key performance metrics, an influence metric is comprised of several measures. .

Tales from the Toolbox

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To automate/streamline, measure, and enhance your capabilities. When we first started building my tool box, we created a list of the basics and the order in which to purchase them: a sturdy tool box, a measuring tape, a hammer and nails, screwdrivers and screws, pliers, and a wrench. Are you feeling a bit like a kid in a candy store when you consider all of the available marketing technologies?

Focus on Revenue is Not New Marketing Thinking

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Today’s executives expect more than awareness and a higher number of qualified leads from marketing – they want a measurable return on their marketing investment and they want marketing to be able to communicate how it is relevant. Now as a marketer, you can go about setting marketing key performance indicators and program performance targets that will enable you to measure Marketing’s impact on revenue. Peter Drucker is attributed with saying that ?

Marketing Factors that Make a Difference

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Yet even today, many organizations do not measure the impact marketing has on their business goals. Are companies lost when it comes to metrics or just unaware of the value in measurement? The most common metric used to measure marketing’s effectiveness was number of new deals, which is historically a metric used for sales. As marketers in the professional services industry, it is important to understand the key factors that enable us to acquire and keep customers profitably.

Three Elements of Successful Change Management

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Recently, they’ve had some measurement adoption issues, so they decided to appoint a dozen of the marketers from their. When you work with a firm that specializes in marketing operations, marketing performance measurement, marketing accountability, and so on, they should have a well-defined method you will use and can then adopt. . We are sitting in a meeting with the CMO and a new marketing operations director from a large, well-established company.

Peace of Mind as a Key Dimension for Measuring Customer Experience

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In fact, recent research suggests that customer experience is a better predictor of loyalty and word of mouth than any other measure. So what is customer experience and how do we measure it? . Measuring and improving customer experience is difficult in part because there isn’t a widely agreed upon definition of what constitutes a customer experience. But there has been some great progress on the definition and measurement front. .

Is Your Marketing Measurement Resolution on Track?

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Did you make a resolution this year to do a better job of measuring your Marketing? To make sure your Marketing Measurement resolutions sticks, begin with the end in mind, what business needle are you trying to move. . . You established solid measurable Customer-Centric marketing objectives. Happy New Years Eve to everyone! 2013 is coming to a close and we are on the threshold of 2014; for those of you across the globe, happy New Year!

Measuring Social Marketing ROI

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How do you plan to measure the ROI of your investment? As usual, the bottom line is being able to measure the impact on, well, “the bottom line.” ” What information do you need to measure the value of social marketing on the bottom line? Both variables will require measurement and analytical capabilities. To measure the first element you will need to be able to monitor and understand the relevant social conversations.

How to Use Scenarios to Create Buyer Segments

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Imagine that you manufacture, market and sell test, measurement and monitoring instrumentation. You are probably familiar with the idea of scenario analysis used for strategic planning. With scenario analysis you focus on possible different outcomes to design a strategy that is flexible enough to accommodate whatever outcome occurs. By developing multiple scenarios, your company attempts to anticipate what might happen in order to develop a strategic response in advance.

Measures for the C-Suite

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We will need to be able to measure the change and connect our work to the change. You now have five quality measures. Advocacy measures the degree your customers are loyal, serve as a referral and actively endorse your company and your products. It is a valuable way to measure your ability to compete. Again, when marketing focuses on strategies and tactics that improve these measures they will ultimately move the lifetime value needle. Measure What Matters.

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Don’t Play Politics with Your Planning

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Uncategorized economics improving marketing Laura Patterson Marketing Marketing Performance marketing performance management marketing performance measurement marketing plan politics proving marketing VisionEdge Marketing

Measuring the Pay-Off for Customer Loyalty

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Many of the organizations we work with deploy some type of customer measures, such as customer satisfaction, customer advocacy, and/or use the net promoter score or something similar. This step lays the foundation for how you will measure the success of any customer loyalty efforts. Measure. Create metrics to measure and improve loyalty and the desired business outcome.

Customer Conversations: Requesting Your Budget

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This very situation is an example of why it is so important to build a measurable marketing plan that is directly aligned with business outcomes.

Make Marketing Count in 2012

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Forrester suggests marketers focus measurable program elements that are designed around business objectives. Since 2001, VisionEdge Marketing has conducted research in the area of marketing performance measurement and management (MPM). During this time we’ve seen that organizations have steadily invested in developing and implementing processes to measure and report their progress toward achieving key outcomes and objectives in order to optimize their performance.

Loyalty vs. Retention Measurement

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Companies who want to retain or expand their relationships with existing customers are finding that measuring and modeling customer loyalty is very valuable. We were recently asked “Do you need to measure loyalty if you are measuring retention-aren’t they the same thing?” Retention is a measure of whether an existing customer continues to do business with you. Then, set about defining how you will use the model to measure and improve loyalty.

How to Measure the Two Dimensions that Have the Greatest Impact on Improving Brand Equity

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Recently we’ve been asked about measuring brand equity. As are result, we turned to some of the pioneers in the brand measurement space to provide a foundation for how to measure brand equity in a customer-driven environment. So while according to BtoB Magazine, brand awareness is the second leading objective of US B2B marketing efforts, if your resources are constrained, your time and money might be better spent on improving and measuring brand loyalty and brand image.

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Measuring the Value of Social Marketing and Media

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As more and more companies invest resources into social media and marketing it’s natural to bring to questionhow to measure the value of this investment. As with any initiative, you can measure the impact of a social media effort only after you’ve determined the business outcome it supports and established performance-based objectives. Just as with any communication channel you will want to have some way to create a measurement framework.

Transitioning from Service Provider to Value Generator

VisionEdge

When Marketing acts as a service organization, its objectives and priorities are typically focused on service delivery (time, quality, and budget) and on Sales satisfaction (measured in “qualified leads generated by marketing”). Those types of measures often dominate the conversation between the two organizations, and this type of marketing organization aims to serve and solve tactical problems as efficiently and effectively as possible. .

Measure Up Blog has Relocated to [link]

VisionEdge

We have moved the Measure Up Marketing blog directly to the VisionEdge Marketing site; enabling our content to all be located in one place. To all our readers and followers. Hope you are having a wonderful summer. The blog can now be found at https://www.visionedgemarketing.com/blog/. We appreciate your support and shares, thank you! Stay tuned, new content will be posted shortly. All the very best, Laura

Measuring the Value Social Marketing and Media

VisionEdge

As more and more companies invest resources into social media and marketing it’s natural to bring to question how to measure the value of this investment. As with any initiative, you can measure the impact of a social media effort only after you’ve determined the business outcome it supports and established performance-based objectives. Just as with any communication channel you will want to have some way to create a measurement framework.

Performance Management For Marketers

VisionEdge

Performance management focuses on optimizing individual or group performance in order to achieve the organization’s key initiatives and objectives – and it includes the metrics and the data, measurement, alignment and analytical processes, methodologies, capabilities and systems needed to manage the performance of an organization. One such metrics category is marketing effectiveness, which measures the ability of marketing to produce a specific result.

Creating a Strategy Roadmap for Marketing Operations

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Lead the charge for marketing performance measurement processes. Performance Measures. Not long ago few B2B companies had a marketing operations function. Today, this function is becoming an important facet of the marketing organization. The marketing operations function enables the marketing function to operate more like a business, with formalized processes, infrastructure, and reporting.

Do You Have What It Takes to Earn an A?

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For the past decade, our annual marketing performance measurement and management survey has asked, “What grade would the CEO give the marketing organization for implementing initiatives that enabled your company to achieve its objectives?” ” In practical terms, accountability is the measuring and monitoring of the commitment a person, group, or organization makes to deliver specific, defined results. Measurement is the foundation of accountability.

4 Steps to Improve the Value of Marketing

VisionEdge

A study this summer by Forbes Insights found that being able to measure marketing is “not taking a backseat” and that proving “how budgets are used remains a strong priority.” This past summer, a study with more than 4,000 top marketers by The CMO Survey found that marketing spending is expected to increase—with the caveat that Marketing be able to measure its impact. The objectives should be measurable and time-bound.

Embracing Cross-Channel Analytics to Create a Competitive Advantage

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Cross-channel analytics enables you to measure the interaction of various channels, such as websites, customer service, phone support, and print media, to understand how those channels relate to one another and affect customer behavior. There has been more discussion about cross-channel analytics as more organizations leverage both digital and traditional vehicles in their communication mix.

Six Ways to Engineer A Customer-Buying Pipeline

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Both of these are critical metrics for marketing to monitor, measure and manage. We all understand the need for Marketing to positively and directly impact the sales cycle and win ratio. This is still an area of challenge for many marketers. The CSO Insights 16th annual sales performance study of 2,800 companies and an Aberdeen study conducted with 472 participants, brought to the light the need for marketing to do a better job when it comes to both quality and quantity of leads.

Plunging into the World of Cross-Channel Analytics

VisionEdge

As organizations leverage both digital and traditional vehicles in their media mix, there has been an increased interest on multi-channel analysis to help measure the interaction of various channels such as web sites, customer service, phone support and print media to understand how these channels relate to each other and impact customer behavior.