“If leadership can’t understand how well Marketing and Sales are really working, it’ll never meet its business goals.”
Leadership makes big decisions.
Applying knowledge, experience, and best practices, CXOs design systems, implement processes, and implement directives throughout the organization to meet their business objectives. Across departments, effective leadership requires an accurate understanding of where they are today in order to get where they want to be tomorrow.
Data tells the stories of what has happened in the past in order to understand what may happen in the future under varying circumstances.
Actions and tactics based on current knowledge and experience to make critical decisions that impact the success of the organization.
Paying attention to data over time, in order to make systemic improvements that help meet business objectives and revenue goals.
Measure, Monitor, Optimize: Get Market Ready Index®
Traditional channels of communications have expanded with technology, splintering into subchannels of specialization. Digital has become a dominant force and demands a growing share of most marketing budgets. The struggle to evaluate has compounded with disparate systems using separate measurements, making it difficult or impossible to understand what works best.
Over the last 10 years, mass media has become secondary to social media with changing patterns of consumer consumption. Media fragmentation has created market fragmentation as consumers follow specific interests, channels, or trends. Today, more people and more decisions are required to create an integrated marketing communications plan that achieves business objectives.
Optimization has become even more challenging because traditional analog channels (i.e., branding, public relations, sales, et al) provide the same accuracy or metrics as compulsory digital channels. The perception of measurement is often confused with actionable data; there’s a difference between having knowledge and knowing what it means. Marketers at all stages are then tasked with making positive changes to reach critical KPIs based on incomplete data.
Measure and evaluate all channels and subchannels of communications using a new discipline, and optimize Receiver Analytics by addressing Sender Analytics.
Create more effective strategies that better meet business objectives more consistently by applying data-driven creativity to all forms of communications.
Make well-informed decisions to improve efficiency of marketing spend by channel and subchannel, leveraging real-time dashboard monitoring over time.
IN THE END
Exceed business objectives.
The ability for marketing departments to flourish depends on their ability to meet business objectives on a regular basis, over time. Consistent and accurate evaluation is critical to understanding your organization's current position in the marketplace, while new strategies for analog and digital channels are required to properly impact target markets. By implementing a proven process for optimization, marketing leaders can consistently increase revenue and set up the department for long-term success.