What single improvement would help your company optimize its marketing investment? To answer this question, you’re probably thinking about your marketing budget allocations for campaigns, events, intelligence, etc. But this question is not about that — it’s about getting more bang for the buck by doing things smarter across your marketing organization.
Optimizing means achieving the best possible results by maximizing desired factors and minimizing undesired factors. Desired factors are easy to name: revenue, market share, profit, and opportunities. Undesired factors along your path to these goals include duplicated or scrapped efforts, and low productivity and morale. Your marketing expertise is the key to maximizing desired factors, while how your marketing organization operates is the key to minimizing undesired factors.
Sub-optimization is a “situation where a process, procedure, or system yields less than the best possible outcome or output, caused by a lack of best possible coordination between different components, elements, parts, etc.” (BusinessDictionary.com) When any part of your marketing strategy suffers because of isolated pockets of expertise, the squeaky wheel getting the grease, pet projects, firefighting realities, and the like, your marketing investment is sub-optimized.
Insufficient budget is CMOs’ biggest aggravation, according to the CMO Council’s 2012 State of Marketing report. Even with double-sized budgets, though, we might still complain about the difficulties of maximizing desired factors because of the massive gravitational force of the undesired factors’ existence.
“Effective leadership is putting first things first. Effective management is discipline, carrying it out.” (Steven Covey, author of 7 Habits of Highly Effective People) Marketing Operations helps you do just that. Marketing Operations (MO) increases your marketing team’s capacity, competency and impact. It helps you rise above the gravitational pull of undesired factors and put first things first, to fully enable your marketing expertise and truly optimize your marketing investments.
So, what single improvement would help your company optimize its marketing investment? That’s where most organizations get stuck. The “should do” list is overwhelming and it’s unclear where to start. So rather than taking strides in the right direction, we never get out of the starting gate . . . despite best intentions.
To get at the heart of what your organization can do differently to get out of this rut, the MO:DNA assessment is a way to clearly see your baseline status in relation to other companies and how well aligned you are with the goals of your company. A complimentary trial of MO:DNA gives you a sense of the assessment questions and the powerful assessment report, and gives you a Marketing Operations maturity score. When you’re ready to sign up for the full assessment, you can invite as many people as you’d like to participate in the 20-40 minute online questionnaire. The full MO:DNA report is a hard-bound 88-page coffee table book with compelling graphics and two dozen analyses — it can help you build buy-in to priorities for improving how marketing operates.
The single improvement to help your company optimize its marketing investment can be readily identified through the MO:DNA assessment — let it help you put first things first and unshackle your marketing expertise from the gravitational pull of operational dysfunction. Get more bang for your buck by doing things smarter across your marketing organization.
by Lynn Hunsaker and Gary Katz, CEO and Chairman, respectively, of Marketing Operations Partners.