Did you know just 19% of marketers have comprehensive tracking and reporting practices in place? (Source: Aberdeen Group)
Or that only 35% of marketing decisions are made using marketing analytics? (Source: The CMO Survey)
For an industry so focused on being data driven, when self-reporting, marketers do not tend to give themselves very high grades. This is a major issue. Publicly, martech vendors and analysts tell stories of glorious marketing success. However, as the above data suggests, when you pull back the curtains the majority of marketing organizations still have lots of work to do to create the foundation to optimize their Marketing Performance.
At Allocadia, we are acutely aware of this challenge. We have been working with marketers to help manage Marketing Performance for over 6 years. And, as a customer centric organization, one of our core values is to deliver long term value to our customers in any way we can.
Announcing: The Industry’s First Framework for Optimizing Marketing Performance
To further support our customers on their path to performance, and set a benchmark for the industry, we will soon be releasing a detailed report and maturity model titled: The Essential Framework for Optimizing Marketing Performance. It will highlight the 5 stages marketing organizations go through to reach optimized marketing performance.
The goal of this report (and like anything we do here at Allocadia) is to help marketing organizations become best-in-class. As such, this content will serve not only as the industry’s first clear definition of Marketing Performance, but also a guide to enable marketing leaders to determine where their organization is on the maturity scale, and will prescribe steps to move further towards Marketing Performance nirvana.
Over the last several months we have developed this report by conducting dozens of interviews with senior level marketing executives on what Marketing Performance means to their organization. We have delved into the successes they have seen and failures they have endured. From these conversations we have built out a report that not only provides insights into the different stages of optimizing Marketing Performance, but also provides guidance on actions to move your marketing organization through the stages. The Essential Framework for Optimizing Marketing Performance will be released soon.
Why you need to get on the Marketing Performance train
For the time being I will leave you with 3 key points to consider before embarking on what we like to think is the exciting and extremely rewarding adventure that is Marketing Performance Management:
- You are Being Judged on Marketing Performance: Like it or not, every marketing organization is being judged on their Marketing Performance. Embrace this challenge and take a long look at how your marketing department can continue to improve in this area.
- Real Talk is a Must: None of the companies that we spoke with were in the final stage and very few had truly reached Proactive Marketing Performance. Every marketing organization has work to do – it’s best to realistically identify where you are today and figure out how to reach that next level.
- It’s Not Just About Returns: While all organizations goal is to drive the best results or returns possible, it is imperative to remember there are two sides of the ROI equation, Returns and Investments. Too many marketing organizations are forgetting the “I” in ROI and for that reason they are finding themselves lost.
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