The Marketing Performance Blueprint: Strategies and Technologies to Build and Measure Business Success

Introduction

UNDERPREPARED AND UNDERPERFORMING

The marketing industry is advancing at an unprecedented rate, creating seemingly insurmountable gaps in marketing talent, technology, and strategy.

At a time when marketers face increasing pressure to measure the return on investment (ROI) of their campaigns and connect every dollar spent to bottom-line results, they are largely underprepared and underperforming.

According to Adobe's 2013 report Digital Distress: What Keeps Marketers Up at Night?, 68 percent of marketing professionals feel more pressure to show return on marketing spend, while only 40 percent think their company's marketing is effective. A mere nine percent strongly agree with the statement, I know our digital marketing is working.1

But with obstacles come opportunities.

Marketing technology has changed the game. Organizations of all sizes have access to the tools and knowledge needed to grow more efficiently and intelligently, to outthink, rather than outspend, the competition.

The marketers who will redefine the industry in the coming months and years and be in high demand take a technical, scientific approach.

Marketing is now, as it has always been, an art form. But the next generation of marketers understands it can be so much more. These innovators are rewriting what is possible when the art and science of marketing collide.

BUILD A PERFORMANCE-DRIVEN ORGANIZATION

The Marketing Performance Blueprint presents the processes, technologies, and strategies to fill marketing gaps and build performance-driven organizations. It is a guide for marketers, executives, and entrepreneurs to advance their businesses, exceed ROI expectations, and outperform the competition.

Do not waste another minute or dollar with traditional thinking and conventional solutions. Soon, every company, including your competitors, will have the tools, talent, and processes to excel. But it is still early. Your organization has the opportunity now to differentiate and drive growth.

As you read, consider the following questions:

inline Does your organization have the right marketing talent, technologies, and strategies to achieve its performance goals?

inline Are your expectations for growth aligned with your organization's potential?

inline Are there weaknesses in your business and marketing cores?

inline Are you maximizing the return on your marketing investments?

inline Do you have the right performance-driven agency partners who are immersed in marketing technology, continually infuse ideas to propel growth, and add critical expertise and skills to your marketing team?

inline Are your resources and campaigns aligned with priority marketing goals?

inline What are the opportunities for underdogs and innovators that lack the resources of their larger competitors?

inline What can large enterprises do to stay on top as smaller competitors develop more modern marketing teams, more quickly adapt to marketing technology advancements, and build more intelligent and efficient marketing strategies?

ACCELERATE SUCCESS

This is a book about what is possible. It is about unlocking your potential as a marketer and accelerating success for your organization.

The marketing talent, technology, and strategy gaps are very real, and they are impacting your business' performance. Now is the time to take control.

Key findings and insights from dozens of industry reports, articles, books, and interviews are woven into The Marketing Performance Blueprint, along with analysis of in-depth marketing assessments from hundreds of marketers, executives, and entrepreneurs.

I draw on my personal experiences consulting for hundreds of organizations, from startups to Fortune 500 companies, and mix in lessons learned as a marketing agency owner. My goal is to give you the resources and tools to advance your marketing career and help move your organization's marketing forward.

Watch for the [+] symbol as you read. This indicates a template spreadsheet is available to download from performance.PR2020.com as part of the Marketing Performance Pack we have created to complement the book. This free resource features a collection of templates, including a marketing team skills assessment, scorecard, campaign center, and project center.

inline Website: performance.PR2020.com

inline Twitter: @PaulRoetzer

inline Book hashtag: #MKTBlueprint

inline Email: [email protected]

inline LinkedIn: www.linkedin.com/in/paulroetzer/

Let's begin the journey.

Section I: The Backstory

inline Chapter 1—Mind the Gaps—lays the foundation, presenting insight into how gaps in marketing talent, technology, and strategy are leading to the most significant gap of all: the performance gap.

inline Chapter 2—Commit to Digital Transformation—discusses the digital transformation imperative and considers ways to overcome obstacles faced by businesses of all sizes.

Section II: Marketing Talent

inline Chapter 3—Build a Modern Marketing Team—explores the rise of hybrid marketers and the impending talent war for tech-savvy marketing professionals.

inline Chapter 4—Construct an Internal Marketing Academy—dives into an analysis of how universities are struggling to keep pace and how some academic outliers and online institutes are filling the education void. It presents a process for using internal academies to build performance-based cultures and nurture modern marketing teams.

inline Chapter 5—Propel Growth through Agency Partners—assesses the marketing agency ecosystem and shares systems for finding and managing marketing agency partners.

Section III: Marketing Technology

inline Chapter 6—Create a Connected Customer Experience—focuses on processes and technologies, including marketing automation and intelligence engines, to personalize the customer journey.

inline Chapter 7—Manage the Marketing Technology Matrix—starts with the software as a service (SaaS) revolution and walks through how to navigate the ever-changing landscape of marketing technology solutions.

Section IV: Marketing Strategy

inline Chapter 8—Perform a Marketing Assessment—presents the knowledge and tools to conduct a complete review of your organization's marketing potential and performance.

inline Chapter 9—Develop a Marketing Scorecard—demonstrates how to create a customized marketing performance measurement and reporting system for your organization.

inline Chapter 10—Strategize a Marketing Game Plan—features a deep dive into the principles and processes of building more personalized and agile marketing strategies using the e3 (evaluate, establish, execute) framework.

NOTE

1. Digital Distress: What Keeps Marketers Up at Night?, Adobe Systems Incorporated, September 23, 2013, http://blogs.adobe.com/conversations/2013/09/digital-distress-what-keeps-marketers-up-at-night.html.

Section I

The Backstory

Chapter 1—Mind the Gaps—lays the foundation, presenting insight into how gaps in marketing talent, technology, and strategy are leading to the most significant gap of all: the performance gap.

Chapter 2—Commit to Digital Transformation—discusses the digital transformation imperative and considers ways to overcome obstacles faced by businesses of all sizes.

Chapter 1

Mind the Gaps

We have entered the age of content, context, and the customer experience.

THE MARKETING TALENT GAP

Digital marketing has revolutionized the industry, and the job market. Corporate marketing departments, small businesses, and marketing agencies struggle to recruit and retain qualified professionals for career paths that did not exist three years ago, while academic institutions are faced with the need to adapt curriculums to the real-time nature of business.

The majority of professionals gain their digital marketing knowledge on the job rather than through full-time school programs. This lack of training and formal education is affecting marketers' confidence in their ability to execute critical digital marketing functions, including ecommerce, personalization and targeting, marketing measurement, social marketing, digital advertising, and content marketing.

In Search of the Unicorns

The job of every marketer, from the copywriter to the chief marketing officer (CMO), is to connect actions to outcomes. However, according to the 2012 Marketing Skills Gap survey conducted by Focus (@Focus) and the Marketing Automation Institute, 75 percent of marketers say their lack of skills is impacting revenue in some way, and 74 percent say it is contributing to marketing and sales misalignment.1

In the 2013 report B2B CMOs Must Evolve or Move On, Forrester (@forrester) and the Business Marketing Association (@BMANational) showed that 96 percent of marketing leaders believe the breadth of skills required to succeed in marketing has increased dramatically, and 44 percent say they cannot find the right combination of people and skills in the job market.2

Furthermore, Accenture (@accenture) found in its 2013 Turbulence for the CMO report that 39 percent of CMOs say they do not have the right people, tools, and resources to meet their marketing objectives.3

So, while marketers are charged with consistently producing meaningful results, including website visitors, subscribers, followers, leads, and sales, they often lack the fundamental skills, technologies, and strategies to unlock their company's potential.

Modern marketers must have a clear understanding of how their actions impact organizational goals. They are expected to continually expand their digital knowledge and capabilities, manage increasingly complex technology integrations, and devise strategies and campaigns that directly affect the bottom line.

Forward-thinking organizations seek hybrid professionals who are highly proficient writers, analytical, creative, and tech savvy, with strong competencies in business management, information technology (IT), and human behavior.

These next-generation professionals excel in emerging core-marketing disciplines such as analytics, automation, content marketing, email, mobile, and social networking. They envision on a strategic level, building fully integrated campaigns, and they have the capabilities to execute on the tactical level, performing activities that drive real business results.

But modern, hybrid marketers are a rare breed.

In his blog post 50% of All New Marketing Hires Will Be Technical, Scott Brinker (@chiefmartec), president and CTO of ion interactive (@ioninteractive), states, There's a real scarcity of technical professionals, even more so for those with passion and aptitude for marketing.4

Brinker says, There will be enormous competition for those unicorns, not just from other marketing departments, but from marketing software vendors, consulting firms, agencies, and a whole new bumper crop of start-ups, all of whom need this talent in pursuit of their missions.

Fill Marketing Talent Gaps

So, what can businesses do to fill marketing talent gaps and drive improved performance? Chapters 3 through 5 focus on marketing talent. We explore the evolution of the prototype marketer, the higher education story, internal academies, and the outsourcing option.

Here are examples of actions businesses can take to better attract, train, and retain modern marketers. We delve into each of these concepts in this book.

inline Focus on culture and purpose as key factors to differentiate the company and attract top talent.

inline Recruit professionals from nontraditional backgrounds, including economics, journalism, law, psychology, and statistics, and train them to be modern marketers. These individuals often possess critical core competencies, such as writing, strategic thinking, deductive reasoning, and understanding of human behavior, but are not marketers by trade.

inline Capture applicants through website landing pages, which enable you to use analytics to monitor candidate engagement levels based on website interactions.

inline Activate marketing automation tools to nurture candidates with prescheduled email workflows. For example, send applicants a series of emails with links to relevant company blog posts and content downloads. Then monitor to see which applicants take the recommended actions.

inline Apply the same marketing technology used for lead scoring to rate and prioritize candidates based on brand engagement levels, such as content downloads, pageviews, email click-throughs, following social brand pages, and blog subscribes.

inline Offer formal internal training programs to continually educate and evolve your marketers' capabilities. Teach your marketing team to take a scientific approach to marketing strategy, campaign management, and measurement.

inline Maintain a performance-based culture in which marketers are assessed and compensated based on achieving marketing metrics. Challenge your team to always connect actions to outcomes.

inline Use an internal social network to improve the marketing team's efficiency, productivity, and performance.

THE MARKETING TECHNOLOGY GAP

Marketers are being called upon to take leading roles in the selection, activation, and management of marketing technology solutions. Gartner Inc. (@Gartner_inc) forecasts that by 2017, the CMO will spend more on IT than the chief information officer (CIO) does.5 This makes sense when you consider the array of marketing technologies required to build and measure business success:

inline Analytics

inline Call tracking

inline Content management systems (CMS)

inline Customer experience management (CEM)

inline Customer relationship management (CRM)

inline Ecommerce

inline Email marketing

inline Internal social networks

inline Marketing automation

inline Project management

inline Search engine optimization (SEO) management

inline Social media monitoring/management

According to a joint study by MIT Sloan Management Review (@mitsmr) and Capgemini Consulting (@CapgeminiConsul), The world is going through a kind of digital transformation as everything—customers and equipment alike—becomes connected. The connected world creates a digital imperative for companies. They must succeed in creating transformation through technology, or they'll face destruction at the hands of their competitors that do.6

Marketers are becoming technologists, and the traditional-minded professionals and businesses that fail to adapt will become irrelevant.

But are marketers ready to assume the role?

Marketing software is a burgeoning space, being fueled by venture capital funding, mergers, acquisitions, and initial public offerings (IPOs). While the money accelerates innovation, it also creates a complex and fluid matrix of players and possibilities for marketers to navigate.

As the number of devices, screens, and channels expands, it becomes more difficult for marketers to create a connected customer experience. Marketers are often faced with the difficult decisions of best-in-breed versus all-in-one solutions, and legacy systems versus the latest and greatest. Siloed platforms and processes only widen the gap. Marketing technology systems must be integrated, with the ability to share and interpret data.

A strong marketing technology foundation is critical to driving performance. Fully integrated core-marketing technologies improve efficiencies, maximize productivity and return on investment (ROI), and create competitive advantages. Yet, many businesses lack, or are underutilizing, fundamental marketing technologies. For example, PR 20/20's 2014 Marketing Score Report tells us:

inline 53 percent of organizations do not have call tracking, which enables organizations to monitor and report offline conversions and assign full value attribution to the proper marketing channels.

inline 41 percent of organizations do not have internal social networks, which strengthen internal communications, corporate cultures, employee relationships, and employee retention rates.

inline 20 percent of organizations do not have marketing analytics, which means they have zero insight into online behavior, including visits, referral sources, page views, time on site, and conversions.7

Fill Marketing Technology Gaps

Chapters 6 and 7 take a comprehensive look at marketing technology. We cover processes to improve efficiency, marketing in a multiscreen world, the impact of marketing automation software, contextual content, leading solution providers, and integration best practices.

As you continue through the book, consider the value of these actions to create more agile and effective marketing campaigns.

inline Appoint a chief marketing technologist or similar leader who drives and manages the convergence of marketing and technology within the organization.

inline Assess your existing marketing technology infrastructure and identify steps to improve weaknesses.

inline Build strong working relationships between IT and marketing teams to fully integrate critical technologies needed to run modern marketing campaigns.

inline Develop processes to eliminate waste,