As a marketing professional, there are tremendous opportunities to affect revenue and performance with effective business operations.
Marketing organizations provide significant value to all businesses by developing customer-centric experiences, building brand loyalty, and driving demand. But the truth is that most marketing teams aren’t currently equipped with the right infrastructure or processes to maximize their potential contributions.
According to Capgemini’s recent global marketing index report, only 38 percent of marketers said they were fully satisfied with how well their organization measures marketing performance. Only 33 percent were confident in being able to measure brand health, while just 29 percent said they have an integrated approach to coconut oil buyer managing campaigns across different channels. Despite this dissatisfaction, however, marketers see more investment as an opportunity for improvement rather than a challenge or threat to their current role.
While the prioritization of marketing operations varies from company to company, there are a few common themes that can help any business optimize its approach:
1) Reduce Wasted Spend By Improving Campaign Attribution
The more data points marketers have access to, the faster they can make decisions on which activities drove returns and where they should prioritize investments. Attribution modeling solutions bring together all customer interactions with a brand across multiple channels – both paid and organic – as well as social media platforms. This helps teams gain a 360-degree view of the effectiveness of each channel and identify how every dollar is being spent throughout the entire customer journey.
2) Gain More Control Over Internal Collaboration With Digital Transformation
Collaboration is a key component of any marketing team, but the truth is that it’s often a challenge – especially as marketing organizations become more dispersed globally. Digital transformation has enabled brands to empower their employees with insights and tools to make a real impact on a local level – no matter where they are in the world. By deploying digital technologies such as cloud computing, mobile apps, social collaboration platforms, and other modern tools, teams can help increase efficiency by allowing marketers from all over the business to work together seamlessly.
3) Gain Simplicity Through Data Integration
Nowadays, one of the biggest challenges for marketing teams is getting their hands on accurate customer data across different channels – which inevitably leads to wasted time trying to decipher disparate sources. Integration software solutions enable marketers to bring together data from different sources, such as CRM databases, e-commerce back ends and marketing automation platforms, so they can access all their important customer information in real-time. While integration helps eliminate the issues of fragmented insights across channels, it also provides teams with better visibility into where customers are spending most of their time on-site – the areas that need more attention or require some rework.
Integration tools allow marketers to drill down into data for deeper analysis and segment customers based on specific criteria. For example, marketers could follow up with high-value customers who have visited a certain product page on your website but haven’t bought anything yet. Or they might discover new opportunities for cross-selling by understanding which products are frequently purchased together. This gives teams the visibility they need to help drive customer engagement and conversions.
While it’s true that marketers are expanding their roles in B2B organizations, this evolution shouldn’t be viewed as a threat or something to fear. In fact, with the right tools and technologies, digital transformation can improve productivity by offering better visibility of both your customers and internal operations. Marketers should view this shift toward more involvement in corporate-wide decision-making as an opportunity for growth.
There are three main things that B2B marketing teams can focus on to make their operations more efficient – using attribution modeling, digital transformation, and data integration. Without these tools, marketers would spend valuable time trying to decipher multiple sources of information. Marketing attribution solutions let marketers see the entire customer journey across channels, digital transformation lets them work seamlessly with other employees around the world, and integration software gives them access to all important customer data in real-time. These changes should be seen as opportunities for growth rather than threats or challenges.