Get Ready to Measure Marketing Performance

1. Get Ready to Measure Marketing Performance GETTING READY TO MEASURE MARKETING PERFORMANCE HOW-TO GUIDE

2. 2 Getting Ready to Measure Marketing Performance How-to Guide Most marketing organizations are being told that they need to do a better job of measuring marketing performance. While this task is certainly complex, there are proven methods to deter- mine the payback from marketing investments. Before you commit to a Marketing Dashboard initiative, consult Demand Metric’s downloadable Dashboard Readiness Assessment to deter- mine if you have the required capabilities to be successful. This How-To Guide will explains the capabilities required to measure marketing performance and provides a detailed action plan to help your business get started measuring performance. HOW-TO GUIDE Getting Ready to Measure Marketing Performance Capabilities Required To Measure Performance Marketing Metrics and Dashboard Capability Business Process Documentation and Maturity Data Management and Information Assets Human Resources and Skill Sets System and Technology Key performance indicators are used to monitor, measure, and predict future results Effectiveness measures are selected prior to campaign launch Causal links have been identified in marketing and business metrics A high-level dashboard exists Defined, repeatable processes exist for sales marketing; billing; customer service; order management; strategic planning; campaign planning; project management Customer and product information needs to be stored safely in either a data warehouse or an online storage system Transactional data can be used to glean predictive insights Resources will be available for developing/learning new processes Members of department clearly understand their role and responsibility Staff is comfortable working with data The following systems are deployed: customer relationship management (CRM); marketing resource management (MRM); campaign management software; business intelligence and marketing analytics; integrated demand generation platform; sales and marketing portal. 2 Getting Ready to Measure Marketing Performance How-to Guide Most marketing organizations are being told that they need to do a better job of measuring marketing performance. While this task is certainly complex, there are proven methods to deter- mine the payback from marketing investments. Before you commit to a Marketing Dashboard initiative, consult Demand Metric’s downloadable Dashboard Readiness Assessment to deter- mine if you have the required capabilities to be successful. This How-To Guide will explains the capabilities required to measure marketing performance and provides a detailed action plan to help your business get started measuring performance. HOW-TO GUIDE Getting Ready to Measure Marketing Performance Capabilities Required To Measure Performance Marketing Metrics and Dashboard Capability Business Process Documentation and Maturity Data Management and Information Assets Human Resources and Skill Sets System and Technology Key performance indicators are used to monitor, measure, and predict future results Effectiveness measures are selected prior to campaign launch Causal links have been identified in marketing and business metrics A high-level dashboard exists Defined, repeatable processes exist for sales marketing; billing; customer service; order management; strategic planning; campaign planning; project management Customer and product information needs to be stored safely in either a data warehouse or an online storage system Transactional data can be used to glean predictive insights Resources will be available for developing/learning new processes Members of department clearly understand their role and responsibility Staff is comfortable working with data The following systems are deployed: customer relationship management (CRM); marketing resource management (MRM); campaign management software; business intelligence and marketing analytics; integrated demand generation platform; sales and marketing portal.

3. 3 Getting Ready to Measure Marketing Performance How-to Guide Measuring marketing performance is not just a buzz phrase; this trend will continue to gain momentum in mid-sized enterprises. Before you promise the world, analyze your current capabilities and constraints to determine how able your organization can measure the return on marketing investments. HOW-TO GUIDE Getting Ready to Measure Marketing Performance Bottom Line 3 Getting Ready to Measure Marketing Performance How-to Guide Measuring marketing performance is not just a buzz phrase; this trend will continue to gain momentum in mid-sized enterprises. Before you promise the world, analyze your current capabilities and constraints to determine how able your organization can measure the return on marketing investments. HOW-TO GUIDE Getting Ready to Measure Marketing Performance Bottom Line

4. 4 Getting Ready to Measure Marketing Performance How-to Guide 1 2 3 4 5 6 Conduct a Readiness Assessment Evaluate Results Communicate Abilities Determine Your Needs Learn Best Practices Action Plan STEP 1 - Conduct a Readiness Assessment Get Professional Help Are You Ready Across the 5-Dimensions of Preparedness? Use our downloadable Dash- board Readiness Assessment tool to measure your prepared- ness across 5 dimensions. V I E W R E S O U R C E Dashboard Readiness Assessment 4 Getting Ready to Measure Marketing Performance How-to Guide 1 2 3 4 5 6 Conduct a Readiness Assessment Evaluate Results Communicate Abilities Determine Your Needs Learn Best Practices Action Plan STEP 1 - Conduct a Readiness Assessment Get Professional Help Are You Ready Across the 5-Dimensions of Preparedness? Use our downloadable Dash- board Readiness Assessment tool to measure your prepared- ness across 5 dimensions. V I E W R E S O U R C E Dashboard Readiness Assessment

5. 5 Getting Ready to Measure Marketing Performance How-to Guide 1 2 3 4 5 6 Conduct a Readiness Assessment Evaluate Results Communicate Abilities Determine Your Needs Learn Best Practices Review your Scorecard to identify key areas that need to be addressed immediately, can be completed over time, or can be ignored. Compare and contrast yourself with best-in- class marketing organizations, those in the middle of the pack and the laggards. Action Plan STEP 2 - Evaluate Results Get Professional Help The Scorecard Identifies Key Areas to Focus On Marketing Performance Management Benchmark Report V I E W R E S O U R C E 5 Getting Ready to Measure Marketing Performance How-to Guide 1 2 3 4 5 6 Conduct a Readiness Assessment Evaluate Results Communicate Abilities Determine Your Needs Learn Best Practices Review your Scorecard to identify key areas that need to be addressed immediately, can be completed over time, or can be ignored. Compare and contrast yourself with best-in- class marketing organizations, those in the middle of the pack and the laggards. Action Plan STEP 2 - Evaluate Results Get Professional Help The Scorecard Identifies Key Areas to Focus On Marketing Performance Management Benchmark Report V I E W R E S O U R C E

6. 6 Getting Ready to Measure Marketing Performance How-to Guide 1 2 3 4 5 6 Conduct a Readiness Assessment Communicate Abilities Determine Your Needs Learn Best Practices Once you understand your capabilities, communicate with senior management to ensure that they know what is required to effectively measure marketing performance. Action Plan STEP 3 - Communicate Abilities Get Professional Help Evaluate Results Keep Senior Management Aware of Your Capabilities 6 Getting Ready to Measure Marketing Performance How-to Guide 1 2 3 4 5 6 Conduct a Readiness Assessment Communicate Abilities Determine Your Needs Learn Best Practices Once you understand your capabilities, communicate with senior management to ensure that they know what is required to effectively measure marketing performance. Action Plan STEP 3 - Communicate Abilities Get Professional Help Evaluate Results Keep Senior Management Aware of Your Capabilities

7. 7 Getting Ready to Measure Marketing Performance How-to Guide 1 2 3 4 5 6 Conduct a Readiness Assessment Communicate Abilities Determine Your Needs Learn Best Practices Some organizations do not require a fully inte- grated, end-to-end, marketing performance measurement solution. If you do have a need for this type of system, commence budgeting discussions to get the proper systems, processes, and skill sets you need. Action Plan STEP 4 - Determine Your Needs Get Professional Help Evaluate Results Ensure You Have the Systems and Processes You Require eWorkshop: Proving Marketing’s Impact: Why Mastering Marketing Performance Management is No Longer Optional W AT C H V I D E O PROVING MARKETING’S IMPACT eWorkshop 7 Getting Ready to Measure Marketing Performance How-to Guide 1 2 3 4 5 6 Conduct a Readiness Assessment Communicate Abilities Determine Your Needs Learn Best Practices Some organizations do not require a fully inte- grated, end-to-end, marketing performance measurement solution. If you do have a need for this type of system, commence budgeting discussions to get the proper systems, processes, and skill sets you need. Action Plan STEP 4 - Determine Your Needs Get Professional Help Evaluate Results Ensure You Have the Systems and Processes You Require eWorkshop: Proving Marketing’s Impact: Why Mastering Marketing Performance Management is No Longer Optional W AT C H V I D E O PROVING MARKETING’S IMPACT eWorkshop

8. 8 Getting Ready to Measure Marketing Performance How-to Guide 1 2 3 4 5 6 Conduct a Readiness Assessment Communicate Abilities Determine Your Needs Learn Best Practices Get Professional Help Action Plan STEP 5 - Learn Best Practices Evaluate Results The Best Practices Report for Your Marketing Dashboards Read our Best Practices Report: Implementing Effective Marketing Dashboards to discover implementation best practices. V I E W R E S O U R C E Implementing Effective Marketing Dashboards 8 Getting Ready to Measure Marketing Performance How-to Guide 1 2 3 4 5 6 Conduct a Readiness Assessment Communicate Abilities Determine Your Needs Learn Best Practices Get Professional Help Action Plan STEP 5 - Learn Best Practices Evaluate Results The Best Practices Report for Your Marketing Dashboards Read our Best Practices Report: Implementing Effective Marketing Dashboards to discover implementation best practices. V I E W R E S O U R C E Implementing Effective Marketing Dashboards

9. 9 Getting Ready to Measure Marketing Performance How-to Guide 1 2 3 4 5 6 Conduct a Readiness Assessment Communicate Abilities Determine Your Needs Learn Best Practices Get Professional Help Action Plan STEP 6 - Get Professional Help Speak to an expert Analyst or Consultant about how to best approach this initiative. There are consulting firms who specialize in implementing marketing performance meas- urement systems for companies with a wide variety of needs. If you would like to speak with an Analyst about getting help – let us know! Evaluate Results Hire the Right Expert Analyst or Consultant Support 9 Getting Ready to Measure Marketing Performance How-to Guide 1 2 3 4 5 6 Conduct a Readiness Assessment Communicate Abilities Determine Your Needs Learn Best Practices Get Professional Help Action Plan STEP 6 - Get Professional Help Speak to an expert Analyst or Consultant about how to best approach this initiative. There are consulting firms who specialize in implementing marketing performance meas- urement systems for companies with a wide variety of needs. If you would like to speak with an Analyst about getting help – let us know! Evaluate Results Hire the Right Expert Analyst or Consultant Support

10. . Demand Metric is a marketing research and advisory firm serving a membership community of over 100,000 marketing professionals and consultants in 75 countries. Offering consulting playbooks, advisory services, and 500+ premium marketing tools and templates, Demand Metric resources and expertise help the marketing community plan more efficiently and effectively, answer the difficult questions about their work with authority and conviction, and complete marketing projects more quickly and with greater confidence — thus boosting the respect of the marketing team and making it easier to justify resources the team needs to succeed. To learn more about Demand Metric, please visit www.demandmetric.com About Demand Metric Follow us on Twitter Like us on Facebook Join Linkedin Group © Demand Metric Research Corporation. All Rights Reserved.