For years there has been a disconnect between the marketing function and the rest of the organization, especially when it comes to management understanding what in-house marketing professionals actually ‘do’.
This chasm has been widened by clever marketers looking busy, wowing senior executive teams with pretty power-point presentations and using terminology that only they understand – all in an effort to justify marketing expenditure.
Examining the in-house marketing function and your marketing professionals’ effectiveness begins at a high level.
When considering your product development process, is your product or service in line with market requirements? Do you have current and ongoing research activity to monitor if the appearance and functionality of your product or service addresses the evolving needs of your target market? Has your Marketing Manager justified the strategic development of this product or service, such as extending or broadening a brand to meet seasonal changes or matching a competitors’ point of difference?
When considering pricing strategy, are your in-house marketing professionals setting pricing that not only meets profit objectives, but forms part of a plan that reflects your brand image and increases market share?
Additionally, is your Marketing Officer or other responsible marketing professionals ensuring your product or service is made available to your target audience through convenient and appropriate locations in a timely manner? Are they flexible in developing and adapting distribution strategy?
The father of modern management, Peter Drucker once said “If you can’t measure it, you can’t manage it”, it follows that measuring individual performance using Key Performance Indicators is effective as long as those KPIs are truly reflective of both the marketing functions KPIs and those that the individual has been hired for.
Too often KPIs form a laundry list of tasks that existing team members can’t or won’t fulfil and aren’t related to an individual’s core competencies or experience (such tasks could well be handled by a talented marketing or advertising agency).
For obligation free advice or a more detailed analysis of the effectiveness of the marketing professionals you have hired, we exist in a unique position knowing how to measure success for individual businesses and how to increase marketing functionality that delivers to your bottom line.
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