Marketing Impact & Performance - Multiply the return of investment into a world class marketing engine
Key performance indicators and performance metrics measure marketing performance and prepare for continuous improvements
Flawless execution requires robust processes and collaborative interfacing as well as excellence in both the marketing team and the deliverables it provides.
If marketers are left behind in the organizational development, interfacing and education it would be a frustrating and value destroying employment.
A culture of marketing excellence needs to be supported and driven by a marketing management that measures and leads for performance. Challenging but realistic key performance indicators and easy to use and understand marketing performance metrics will support the KPI's.
Based on a clear mission statement (why are we here?), vision (where are we going?) and value promise (how do we behave and collaborate?) all processes and tasks need to be aligned or challenged for value.
Digitalization of market monitoring and competitive intelligence is another strong alignment and workflow factor.
As marketing tasks become more demanding in speed and skill talent management and development is more crucial than ever.
Profiling skills, programs to fill skill gaps as described by proper job descriptions, a targeted recruitment process and career path management for retention and talent support along with fair and competitive compensation have to be managed very well in order to retain the upper hand in the global competition for best marketing talents.
Investing into a world class marketing organization also means to make sure it returns the investment with a profit.
If the value contribution of the marketing activities is understood, KPIs with processes and marketing dashboard reporting like ROI and ROMI established and management will obtain a clear picture of the value add of the various marketing tasks and budgets.