According to an study by done by the Jupiter Research Group, "Sixty percent of CMO Council respondents said better segmentation, profiling and targeting strategies were the top ways they were trying to better engage core audiences..."
I think the answer is much simpler. Most, if not all, marketing organizations have all the right pieces in place already. The problem is we are not leveraging them to their full potential.
Below are 3 ways markers can capitalize on what we already do;
1. Leverage technology to create efficiencies. Everyone has a digital asset management (DAM) system, but few use it correctly and see the results they were promised when they purchased them. The problem is the companies that sell the DAM systems are not marketers. These companies know the technology side and leave it up to us to figure out how use it effectively. Now is the time to figure out how to make your DAM system work for you! Make the user interface as easy to use as your external Web site; ensure only the newest and most used items are on the system; and create templates to enable quick customization and increase speed to market. If done correctly, you should see huge decreases in development and print costs.
2. Implement a discipled end-to-end process. We hate to admit it, but we are guilty of creating silos. We have the branding department, creative department, copywriting department, legal department and so on. Then we engage the IT and training departments and it's no wonder it takes us so long to get stuff done. The problem is everyone works to improve their silo and rarely look across the entire process to find efficiencies. The solution is to sit down with someone from each of the silos and map out the entire process and then go back and look for redundancies and possible efficiencies. If done correctly, you should see a significant increase in speed to market.
3. Make your segmentation usable. Don't waste time and money trying to come up with new segments just because you're not seeing results from your current segments. The problem usually isn't the segments; it's the application of them. Customer segments are typically defined in marketing terms (i.e. demographics and psychographics), which mean noting to the sales people who try to use them. The solution is to make the segments applicable to the sales force. First, give them clues and questions to ask to help identify which segment a customer is in. Second, provide examples of the typical needs of each segment and the products that match them. Finally, arm the sales force with clear and compelling value propositions for each of the products that tie back to the customer need. If done correctly, you should see increased sales results.
Pressure For Marketing ROI
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Good post for CMOs on down looking to be more effective and efficient in their processes – particular in and “uncertain” or difficult economy when it’s most important for marketers to “do more with less.”
Leveraging technology combined with connecting processes (and departments) is the way to stay in the black. However, technology and process alone are nothing without clear strategy on how to apply the technology. I agree that everyone has a DAM system (anyone produces and publishes digital media to advance their brand’s value), but not everyone has a DAM solution – something that actually solves problems and adds value. The worst DAM implementations are those that create more problems than they solve and the technology is not clearly aligned with the goals of marketing operations.
I feel for marketing departments left behind by DAM software vendors who just “leave it up to you.” That’s why the market for Software as a Service (SaaS) is so popular – particularly in a recession. DAM SaaS companies share in the risk of the implementation and (well-established firms) have departments dedicated to aligning strategy and best practices of the DAM deployment with the overall marketing strategies. These well established companies take it beyond the implementation and provide something that has become more scarce in the software business – “customer service.” – Jake from Widen
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