FINALLY. A PRAGMATIC PATH TO
MARKETING PERFORMANCE MANAGEMENT
By Lane Michel, EVP and Managing Director
The focus for marketing executives has firmly shifted to the search for talent, answers and the right models and tools to achieve better performance management. It is in nearly every conversation we have with our clients today.
Last month, Naras Eechambadi began the conversation with you about better performance management. We’d like to take this another step this month to unveil here our new pragmatic and holistic approach to building performance in Marketing that delivers predictable results, effective and efficient use of company resources and new sources of competitive advantage.
Managing marketing performance is all about creating a customer and data-driven discipline in your organization, enabled with the right tools and information when needed. Marketing performance must now be measured in such a way that every marketer at all levels that makes decisions deploying marketing resources gets immediate feedback as to whether the resulting activity from their decisions last week or quarter
- Created or destroyed customer value
- Generated greater or reduced return on marketing investment
Quaero has a simple framework for taking the new focus on Marketing Performance Management (MPM) into action. This is not just experimentation or playing a guessing-game. It is employing all three fundamental components of performance:
- Customer insight derived from individual customers’ needs and experiences through their life cycle
- Six dimensions of marketing capabilities namely actionable strategies, appropriate measures, organization alignment, effective processes, information assets, enabling technologies described in High Performance Marketing
- Return on Marketing Investment (ROMI) and Return on CustomerSM (ROC) evaluative tools for decision makers and the company
Our experience employing the full MPM framework has now led to an equally simple formula for making a dramatic shift in the performance of your marketing organization over a period of about 18 to 36 months. This is the CMO’s ultimate toolkit. Not hollow promises. Not overset expectations. Just the reality of how you will transform all the rhetoric into action and results for your customers, channel partners and company.
This is the new discipline of Marketing that has been needed for too long -- more scientific in its approach and finally accountable to shareholders. The creativity and art of marketing still has a critical place: differentiation is using imagination to better understand how to link insights on customer needs with the capability to meet those needs better than anyone else through communications, products, services and trusted company-channel-customer relationships. In the high performance marketing company, not just employees with “Marketing” in their job title but every one and everything touching your customer differentiates the company.
Your shareholders, Wall Street, your Board of Directors and most importantly your customers are demanding that you deliver:
- Predictable results … as believable and valuable as any other business forecasts
- Effective and efficient use of company resources … and customer attention
- New sources of competitive advantage … to stand out as a leader; to have the most buzz from customers and analysts; to achieve sustained high growth
Ready to go another step further in how this might work? Check out or new MPM service offerings that deliver on all three of these demands from your stakeholders and customers. Our services are completely aligned to deliver on the Performance Toolkit above that is the pragmatic way to “install” Marketing Performance Management in your company.
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Return on CustomerSM is a registered service mark of Peppers & Rogers Group, a Carlson Marketing Group company.
For more information on Quaero’s Marketing Performance Management services, please click here.
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To see how Quaero works with you to improve Marketing Performance Management, you are invited to try our five-minute, 20-question introductory MAST, which is geared to help Quaero consultants analyze the scope of your marketing efforts in preparation for a phone briefing with you at your convenience.
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704.414.0200 ext. 370
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Copyright 2006 Quaero Corporation.
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Quaero is a marketing and technology services company that provides unparalleled value to firms seeking improvement in the effectiveness of their marketing organization and technology investments. To find out more, visit our website at www.quaero.com.
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