A few weeks back I had the pleasure of hosting a webinar with Matt Heinz called Advancing Through the 5 Stages of Marketing Performance. It combined the specifics of a Maturity Model I built with some of Matt’s real world experience and practical marketing advice.
This is an important topic. Yes, the marketing industry is focused on becoming data driven, but when you ask marketers candidly, they do not tend to give themselves very high grades on their progress. This is a major issue. Publicly, martech vendors and analysts tell stories of glorious marketing success. However, as data suggests (or even behind the scenes conversations), when you pull back the curtains the majority of marketing organizations still have lots of work to do in building high performing departments.
This webinar was a big success because both Allocadia and Heinz Marketing are acutely aware of this challenge. And each organization works with marketers to help manage and improve Marketing Performance.
With that in mind, I’m pleased to share the 5 stages within Allocadia’s Marketing Performance maturity model. I invite you to read the full report, watch our webinar to get some advice on how to improve, and reach out to me or Matt if you want to discuss anything marketing related!
The 5 Stages of Optimizing Marketing Performance
Stage 1 – Static
Organization Description: Marketing leadership has no visibility into investments and no control over results. There are minimal processes, data cannot be organized, and marketing is silo’d from the rest of the organization.
Impact to the Business: Ineffective marketing is negatively affecting the company’s bottom-line. Without change, marketing leadership will be removed.
Stage 2 – Transitional
Organization Description: Leadership has acknowledged marketing’s issues and lack of visibility into results. Leadership has defined their vision and begun to share it. Processes are being put in place to improve data quality and alignment with sales and finance.
Impact to the Business: Marketing’s effectiveness is still limited. Internally, change is visible through staff reorganization and shifting departmental goals.
Stage 3 – Progressive
Organization Description: Marketing has full visibility into investment data and past results are well understood. Executives have moved from firefighting mode to working on alignment across the organization and with corporate goals.
Impact to the Business: Increased efficiency allows marketers in the field to make more informed decisions. Better alignment with sales (and better sales results) are starting to be realized.
Stage 4 – Proactive
Organization Description: Marketing’s energy has shifted to future-thinking insights and actions. The advanced technology and data modeling for marketing investments are the next areas of focus. Collaboration between Marketing, Sales, and Finance is common practice.
Impact to the Business: Now a proactive department, marketing is a key contributor to business success for both revenue generation and market awareness.
Stage 5 – Optimized
Organization Description: Marketing has full control of its resources and investments. Marketing leadership can accurately project results, which gives the ability to optimize for the next dollar spent. The organization has best-in-class talent, data, and technology.
Impact to the Business: Marketing and sales are competitive differentiators in market. The CMO is a strategic voice at the board level and marketing is one of the most respected departments in the company.