Tag Archives: operational marketing

The evolution of marketing

In an ever changing world, marketing changes too. But marketers need the right tools. So it’s time that marketingtools change too, says Jive Software in their whitepaper ‘Marketing Transformed’. Most marketers still depend on the same tools and methods they used 20 years ago: email, meetings, phone calls and desktop apps, leading to a lot of disconnects, inefficiency and pain. But change is finally at hand. New social business technology has the ability to knit cross functional teams together and empower marketing productivity in ways never possible before.

According to a recent study of over 1700 chief marketing officers, four out of five CMO’s anticipate a high or very high level of marketing complexity over the next five years, but only half feel ready to handle it. Those CMO’s have every reason to be concerned, according to Jive. The sheer size of the task has grown, with a more diverse market landscape to master, more communication channels to leverage, and a lot more data to take account of. The expectations have grown, too. Marketing departments are under greater pressure to develop more agile and precision targeted campaigns, generate more leads and ultimately contribute more to companies’ bottom lines.

Unfortunately, Jives states, marketing methods and tools haven’t kept pace with the demands. When it comes to the human interactions and collaboration at the heart of so many marketing activities – like planning and executing campaigns, creating collateral, enabling channel partners and nurturing customer relationships – marketers have been stuck using tools from an earlier age: email, phone, face-to-face meetings, on-site events, content management systems and desktop apps. A few newer collaborative tools have entered the picture, but have tended to be piecemeal and limited-purpose.

All this causes that knowledge-workers need a lot of time to do things they aren’t supposed to do. Just think of all the effort and frustration that goes into fruitlessly searching for information, sorting through email, managing disjointed document revision cycles, struggling to keep all team members on the same page etc. etc Jive states. According to McKinsey Global Institute the average knowledge worker spends 19 percent of the day searching for information and expertise and another 28 percent of the day processing email.

Read More…

The State of Marketing #7: What is Marketing Success?

We often hear about ROI and marketing success but what does that mean? Is it pure and simple numbers? Is it finding opportunity? Strong integration? Or does it mean making your brand a positive force versus a net negative impact on society?

The State of Marketing #6: Brand Evangelists

Word of mouth now creates trust in brands more effectively than any other marketing method. Brands with evangelical supporters develop third-party validation and are more likely to be trusted sources. In turn, the opinions of colleagues, friends and family members may matter more than any strong advertising campaign.

State of Marketing #5: Authenticity Matters

Brands are used to delivering messages, but in today’s digital world where billions of independent social readers exist, marketing requires more. People inherently want a human voice to converse with as part of a brand’s outreach team.

State of Marketing #4: PR is Marketing!

The lines between PR and marketing have completely blurred. Moving forward as part of marketing, PR’s combined mission is building brand and helping corporations achieve all of their functions, from product development to HR.

Do marketers need a plan B?

In the last decade thousands of papers and presentations, have been written to instruct marketing and IT practitioners in how to improve the way they execute marketing campaigns. “We believe that the body of conventional wisdom amassed over the years is missing the point”, say Eric Rotkow and Thomas Manders from Coffee + Dunn Inc in their whitepaper ‘Marketing is different’. “What’s more, we believe there is a better approach to building sustainable marketing operations, and it is not rocket science.”

The two start their paper with a bold statement. “From a marketing operations point of view marketers are no better of than they were a decade ago and their conventional thinking persists”, they state in the first paragraph of the first chapter.

There are three common views on marketing which don’t work:

Not traditional

Traditional approaches to marketing do not work the way marketing works. The approaches do not account for marketers’ natural iterative human relationships and their fundamental task to enrich and deploy their ideas as late in the process as possible. Managing global decision-making, reporting relationships, incentives, processes and technologies are wildly complex and making sweeping improvements is nearly impossible.

Technology

The technology available today is mature, does what it must do: supporting customer interactions and providing data to inform the next interaction. However, according tot Rotkow and Manders, a view on the full ecosystem of technologies that help marketers get the work done – think back office – and those that interact with customers- think front office – reveals there is a significant incongruence. Front-office tools are increasingly utilized to manage customer interactions across channels. While back-office solutions haven’t been fully executed by the softwarevendors who have instead responded with incomplete solutions which are serviceable but further isolate marketing, rather than connecting it to the enterprise.

Advisors

Advisor don’t know it all. The gaps left across agencies, consultants, and technology vendors, results in a disconnection between a marketer’s operational capabilities and the customers it is trying to influence. Who is designated to build marketing – people, process, and technology – to drive the capabilities needed to deliver the world-class programming? “No one, in our view”, Rotkow and Manders say.

Marketing is unique

That is because marketing is a different kind of cookie. Marketing is unique because:

  • Marketers must navigate unprecedented technological advances and a new regulatory standard (think of, for example, all the new channels coming up)
  • Marketers must navigate increasingly complex internal relationships
  • Marketing process is critical to success, though linear approaches don’t meet the challenge
  • Marketers depend on a network of resources to successfully collaborate

The depth and complexity of the issues discussed by Rotkow and Manders cannot be addressed in a simple checklist of action items to be owned by the CMO’s direct reports. The best path forward is not a new buzz, but rather that marketers may realize operational improvements by applying the marketing-specific design principles to tried-and-true business design frameworks. Sustainable improvements require a mix of methodical top-down study and design, and practical bottom-up initiatives.

In conclusion they state: “Marketers who wish to enjoy an advantage in the coming decade will adopt a view of their organization – an uncomfortable view perhaps – that is less about a hierarchical organizational design and more about collaborative human interactions set within a specific process context. They will use a smart mix of technologies to enable these collaborations made possible by even smarter information standards that allow open communication. To start, marketing and technology leaders should initiate a top down design of an optimum marketing function, while identifying high impact improvement opportunities from the bottom up. In time, the top down will meet the bottom up for an organization that has the capacity for dynamic operations.”

Marketing isn’t that hard…

Here we are, doing all fancy about marketing, marketingcampaigns, marketing technologies and so on. But then, these guys come along and explain what marketing is all about and how you get the best results. In only two minutes you know all.

1. You see a gorgeous girl at a party. You go up to her and say: I am very rich. Marry me! – Thats Direct Marketing

2. Youre at a party with a bunch of friends and see a gorgeous girl. One of your friends goes up to her and pointing at you says: Hes very rich. Marry him. – Thats Advertising

3. You see a gorgeous girl at a party. You go up to her and get her telephone number. The next day, you call and say: Hi, Im very rich. Marry me. – Thats Telemarketing

4. Youre at a party and see gorgeous girl. You get up and straighten your tie, you walk up to her and pour her a drink, you open the door of the car for her, pick up her bag after she drops it, offer her ride and then say: By the way, Im rich. Will you marry me? – Thats Public Relations

5. Youre at a party and see gorgeous girl. She walks up to you and says: You are very rich! Can you marry ! me? – Thats Brand Recognition

6. You see a gorgeous girl at a party. You go up to her and say: I am very rich. Marry me! She gives you a nice hard slap on your face. – Thats Customer Feedback

7. You see a gorgeous girl at a party. You go up to her and say: I am very rich. Marry me! And she introduces you to her husband. – Thats demand and supply gap

8. You see a gorgeous girl at a party. You go up to her and before you say anything, another person come and tell her: Im rich. Will you marry me? and she goes with him – Thats competition eating into your market share

9. You see a gorgeous girl at a party. You go up to her and before you say: Im rich, Marry me! your wife arrives. – Thats restriction for entering new markets

 

Best Practices in Marketing Automation

While many marketers are familiar with the term Marketing Automation, not everyone is quite sure what it contains. The term is used to describe a wide range of supporting marketing software, from solutions such as DAM or PIM, but also more elaborate systems that monitor the entire marketing process such as MRM and ERM. The Gleansight Marketing Automation Benchmark Report by marketing research company and consultancy Gleanster attempts to fill in some holes in the general knowledge about marketing automation.

Many companies are still hesistant to implement a Marketing Automation solution. Yet Marketing Automation solutions have been proven to deliver results, such as reduced marketing costs, better measurement, and increased revenue. The report, based on a survey among over 300 marketing professionals, is a good starting point to get some basic understanding of what Marketing Automation does and does not do, and which functions it encompasses. It also includes a lengthy analysis of software vendors in the market. Below is a summary of the whitepaper, with some highlights. Read More…