We have entered a new era for marketers.

The digital transformation of business has changed the way organizations and consumers buy. It’s up to CMOs and marketing teams to ensure customers are getting the right message, at the right time, in the right channel.

In order to drive this massive digital transformation and create a better customer experience, marketers must understand what is working and what is not.

Their businesses depend on it.

HBR states that over a 3 year period leading digital companies generate:

Greater gross margins

Greater average earnings

Greater net income

But marketing is letting some of the basics get in the way of knowing what’s working and what’s not:

#1

The “I” in ROI is broken.

Half of CMOs don’t understand how their budgets are invested.

Pemberton, C. (2017, November 20). 2017-2018 CMO Spend Survey Highlights Demand for Results. Retrieved from https://www.gartner.com/smarterwithgartner/2017-2018-cmo-spend-survey-highlights-demand-for-results/

#2

We are getting more misaligned.

Half of B2B marketers are unable to measure results and align teams around common goals.

Snow, A., Sridharan, S., Wizdo, L., Shea, M., & Yunus, A. (2018, May 30). Anchor Sales And Marketing Alignment With Revenue Growth Analytics. Retrieved from https://www.forrester.com/report/Anchor Sales And Marketing Alignment With Revenue Growth Analytics/-/E-RES136061#figure1

#3

We are thinking about the “R” in ROI wrong.

60 percent of Fortune 1000 CMOs claim they cannot quantify the impact of marketing.

Jacobs, J., Longo, R., Sen, M., & Timelin, B. (2018, August). Zero-based productivity—Marketing: Measure, allocate, and invest marketing dollars more effectively. Retrieved from https://www.mckinsey.com/business-functions/operations/our-insights/zero-based-productivity-marketing-measure-allocate-and-invest-marketing-dollars-more-effectively

And the impact is significant

LOST TIME

6+ Days

is spent per person per quarter on planning, budgeting & measuring ROI. MPM can save up to 40% of that time!

LOST MONEY

10-20%

of marketing spend is wasted and/or misaligned.

McKinsey

LOST OPPORTUNITY

4%

is the extra revenue you could drive by optimizing marketing spend.

Forrester

“CMOs often struggle to explain the linkage between marketing activities and financial performance… The net result is that CMOs have the shortest average tenure among all C-suite roles, as they either lose their jobs due to perceived underperformance or become frustrated and move on.”

Deloitte

Deloitte Review: Redefining the CMO

The time to change this is now. The answer?
Marketing Performance Management (MPM).

“MPM serves as the headlights and the steering wheel that improve both visibility and control.”

Allison Snow

Forrester

Allison Snow

Senior Research Analytics

54% of CMOs have plans to or are adopting Marketing Performance Management software technology.

Wizdo, L., Robertson, C., Basseches, J., & Hartig, K. (2018, October 15). The Forrester Wave™: B2B Marketing Automation Platforms, Q4 2018. Retrieved from https://www.forrester.com/report/The Forrester Wave B2B Marketing Automation Platforms Q4 2018/-/E-RES141625, See Figure #5

MPM is How Marketers Run Their Teams and Create a World-Class Customer Experience

Marketing Performance Management is the use of people, process and technology to provide marketing organizations with:

  • Visibility into core data, investments and results
  • The control over dollars and resources
  • Alignment across plans and teams
  • The confidence to know what is working at what is not

Running marketing is MPM, Doing marketing is executing campaigns. Marketers must excel at both to deliver business impact and a world class customer experience

Learn More About the Power of Marketing Performance Management