If you missed our recent webinar on The Marketing Performance Advantage conducted with our friends at CMG Partners, one of the top challenges facing marketers we discussed was a perceived lack of the right data or processes to make informed key decisions.
In fact, 40% of the 400+ businesses we interviewed saw getting the right data as a challenge that needed addressing:
- "We don't really have a formal insight gathering process"
- "We're not sure what the right data is and the data gathered is not trusted"
- "We don't often tie the results of surveys to action plans"
- "We don't have senior level buy-in due to the lack of hard data results against programs"
- "It is difficult to find talent who can think strategically and manipulate data"
- "Each department works independently and does not team together"
- "The process takes too long to implement any findings"
So, what can these companies do? For starters:
1) Get on the same page. For change to take place you need to understand the perceptions and needs of your internal stakeholders. Whether that is through a formal internal questionnaire, running workshops, or one on one discussions, it is essential that those stakeholders understand what information is available and how to use it. They also need to know what improvements you plan to make to better meet their or your needs.
2) Run a measurement audit. To address any concerns about data quality or timing you need to have a handle on everything that is being measured and why. There may be cost efficiencies you are missing, or areas that are unintentionally uncovered. There also may be more useful ways to gather and share your data.
3) Create a champion. Even if you don't have a formal research/insights position, it is essential to have someone who is a resource in terms of knowing what is available and how the pieces fit together. This champion can help you bridge the interdepartmental gaps and prioritize initiatives aimed at improvement.
Want to learn more? Read last week's Advertising Age Article: Why Measurement Alone Will Not Improve Marketing or join us in Chicago this week as Rich Schreuer and CMG Partners' Courtnie Ross present at IIR's Measure Up Conference.
How to Improve Marketing Performance
Chadwick Martin Bailey and CMG Partners share the findings of a joint research study among over 400 CFO, CEO and marketing employees of companies with 100+ employees interested in measuring the performance of their marketing initiatives.
Posted by Josh Mendelsohn. Josh is our VP of Marketing and loves live music, tv, great food, market research, New Orleans, marketing, Boston and sports. You can follow him on Twitter @mendelj2.