The success of any business endeavor is dependent on one thing; execution. Even the best marketing strategy will fail if the organization is incapable of executing. In the context of marketing effectiveness, execution has to do with the tactics and processes an organization utilizes to market a product or service. With limited resources and finite budget, marketers need to make sure that all marketing activities are both influencing and driving demand. While it’s critical to have access to a robust centralized marketing database, the database is of little value unless marketers use the data to increase revenue.
In order to improve marketing effectiveness, marketers need to start using the data to build more intimate relationships with prospects and customers. Research proves that mass untargeted email blasts yield an average 1-2% conversion rate.
The following questions will help determine steps your organization can take to improve marketing execution. Remember to check out the marketing automation category for more about marketing automation vendors that can help you here.
Read each question and write down the appropriate points based on an honest assessment of the current state of your marketing operations.
Do you have clearly defined segments and targets?
- Yes- Award yourself 2 points if you currently customize marketing campaigns for unique segments of prospects/customers
- Yes, but we could do a better job- Award yourself 1 point if you segment your database, but you feel you could do a better job creating customized marketing messages for these segments
- No- Award yourself 0 points if you do not currently segment or target unique segments of prospects/customers
Do you currently use any personalization in outbound marketing campaigns? Award points for each applicable answer then add up all the points at the bottom (this question could award a total of 21 points)
- Mass Email (1 Point): _______
- Segmentation and Targeting (2 Points): _______
- Personalized- Name in Salutation (4 Points): _______
- Personalized- Using other database criteria: purchase date, product purchased, etc.
(6 Points): _______
- Event Triggered- Marketing interactions are triggered by customer behavior (8 Points): _______
- Total Points:_________ (Enter in b.)
Do you have one or more lead nurturing campaigns that are designed to educate potential buyers that are not yet ready to make a purchase?
- Yes- Award yourself 2 points if you have exclusive marketing campaigns designed to nurture and educate prospects
- No- Award yourself 0 points if you do not use lead nurturing
Do you know which marketing channels result in (or influence) the highest number of leads?
- Yes- Award yourself 2 points
- No- 0 points
Can you name 3 companies that visited your website this week?
- Yes- Award yourself 2 points
- No- 0 points
a._____+ b._____+ c._____+ d._____ +e._____ = ______
How did you score?
With the right tools and processes in place, marketing execution can be quick and painless. Without those tools and processes, it can be painful and yield poor results, possible causing you or your programs to get the ax.
- 0-6 Points: You don’t quite have the hang of it – A final score between 0 and 6 indicates you could increase marketing effectiveness considerably by increasing the use of personalized email campaigns or even basic segmentation of your marketing database. Consider lead nurturing campaigns to increase the number of sales-ready leads that are passed on to sales.
- 7-18 Points: You’re getting there, keep on hacking away – A final score between 7 and18 indicates you are using a moderate level of personalization or segmentation and probably achieve average conversion rates on outbound campaigns. Consider tracking prospect performance across multiple channels (the web, email, landing pages, keywords, etc.) By tracking prospect behavior you can more accurately predict propensity to purchase and relevant materials that will have the biggest impact on driving revenue. Automation can help deliver highly relevant marketing interactions that are triggered by prospect behavior. This increases the likelihood of delivering the right message to the right prospect at the right time.
- 19-29 Points: You’re killing it – A final score between 19 and 29 points indicates your taking full advantage of your marketing database to build more intimate, relevant, personalized relationships with prospects and customers. The question is, are you measuring performance over time to constantly improve marketing execution?