Six steps to marketing efficiencies
Using a Marketing Operations Management (MOM) solution, the CMO can create a marketing culture that will streamline marketing processes at both the operational and campaign level, will propel the organization to reduce waste, and will drive higher revenue returns. It is not as difficult as you may think if you leverage the MOM technology and follow these six simple steps:
Communicate marketing objectives
All too often, marketing teams tend to repeat the marketing campaigns from one year to another based on their historical returns. The future value often changes based on market trends and competitive environment. This misalignment of business objectives and marketing execution is one of the biggest sources of inefficiencies.
Rigorous quantification of business objectives into marketing performance indicators (MPI) result in Marketing Scorecards, that can help the CMO to consistently communicate marketing objective. MPIs such as brand awareness, market share, leads, customer satisfaction, etc. help marketing teams to align and fine-tune their marketing mix to achieve the marketing objectives. In addition, it helps marketing management to monitor if these objectives are being achieved during the course of execution of marketing activities.