The Layer Cake of Integrated Organisational Value
What does the Exec Team really care about?
The Exec Team’s main aim is to keep the organisation healthy, and this relies on revenue. Your task as CEO or CMO, is to prove to the Execs the impact of marketing activities on revenue. Its time for marketing to take responsibility for the total pipeline that is needed by the company. Here’s where marketing can help find and measure current growth indicators; and deliver future data-driven projections. This means Marketing, Sales and other departments must align goals and work closer together that focuses more on organisational targets instead of departmental attributions … and this is reported (by Access Group (The B2B institution)) common throughout the industry.
Creating KPI reports that matter
Detailed metrics and indicators will help you support some of the budget decisions and find inefficiencies and underperformance… but the key number you need for the Exec Team is revenue. Unsurprisingly, the key elements across the customer journey aren’t being measured properly to measure the total pipeline.
Marketing is a combination of the science (data and insights) and art (creativity).
Marketing teams need to learn how to show a more complete view of the value generated by the Exec Team’s investment …. The ‘So What’? Two benefits occur here: (i) Marketing focuses on the numbers that matter to the Execs and (ii) Organisational integration increases to create overall success.
Imagine if you each came to the Execs with cake ingredients – it has no value, but if it makes a cake. Now you are talking! Each department is a layer within the cake of cold leads, qualified pipeline, closed deals and happy customers … collectively it makes up the finished cake – aka the bottom line.
The growth areas that prove Customer Value
In a B2B survey, marketers are concentrating on these growth impact measures:
Brand shows how customer preferences are driving decision making and B2B marketers will be investing more heavily in their brand investment and measurement in the next five years.
The Pipeline will always be critical for the Execs, but the task is to broaden the pipeline scope to include organisational contributions and individual brand touchpoints that drive revenue opportunities and lifetime value.
Customer experience (CX) impacts customer lifetime value. For the customer, their experience of your business will be one whole picture and it needs to be to be consistent to meet/exceed customer expectations.
Traditionally, marketing always talks about the 4 P’s, but service is so key that the extended marketing mix applies more and more. There are 7 elements of the extended marketing mix …and they all form customer touchpoints: Product, Price, Promotion, Place, Physical Evidence, People, Process. When’s the last time you did an audit on your marketing mix to check the consistency of your customer’s brand experience?
You’ll need to demonstrate the growth impact in these three areas for Exec presentations, but the exact KPIs will depend on your industry and products and services.
Let’s chat
If you’d like to talk about a customer experience audit (marketing mix audit) to create that consistent customer experience, drop me a message or book a complimentary no-obligation meeting and find out how I can help your business.
