Marketing Magazine’s industry advisory board chairman and Deakin University senior lecturer Michael Valos recently asked two good questions for an opinion piece he is researching. Here are my answers:

Q1 What is the best way to measure marketing performance?

ANSWER: If you are operating in a B2B environment, you will need an integrated front-end business technology platform supported by engaged people and aligned processes. This means a CRM married with a marketing automation tool, an enterprise-grade website content management solution and a sophisticated, business-driven analytics application. Ideally, your CRM is also fully integrated with your ERP system, enabling you to understand what’s happening with your recurring revenue. Without these tools, plus the right people and the processes, you cannot effectively measure your contribution to the business in these terms:

  • Marketing-sourced pipeline revenue
  • Marketing-sourced closed-won revenue
  • Marketing-influenced pipeline revenue
  • Marketing-influenced closed-won revenue
  • Marketing-influenced recurring revenue
  • Net promoter score
  • Customer effort score

Q2 What are the major challenges that hinder this

  • Poor leadership
  • A failure to give more than lip service to the reality that the customer experience is the decisive differentiator and is, in reality, the new marketing
  • Limited vision
  • Ineffectual change management
  • Business failing to engage with IT as a genuine partner
  • Traditional sales & marketing misalignment
  • Siloed organisational structures
  • A conventional approach to analytics, resulting in reports without actionable insights

A strategic marketing executive with extensive experience delivering business results for Ansell Healthcare, Mercedes-Benz, consultancies and organisations in Australia, Asia and Europe. Leading-edge skills built around the fundamental principle that, in an era of rapid product and service commoditization, the customer experience matters and is a key driver of competitive advantage. Fully cognizant of the need to synchronize processes, business technology and people to ensure that brand promises are mirrored by reinforcing brand actions. Thrives in “can do”, values-driven organisations which are committed to consumer-focused innovation and making a difference by thinking strategically but acting pragmatically. An accomplished, collaborative business leader and communicator with excellent interpersonal and public speaking capabilities. Key strengths: • Building influence across the business • Harnessing emerging customer trends • Thriving on market and technology change • Differentiating the brand experience • Optimizing the marketing and media mix • Creating and nurturing high-performance teams and relationships Specialties Assets and transferable skills include leadership, strategy development, project management, technology utilization, business process improvement, performance metrics and public speaking. Email: mitchell_mackey@hotmail.com

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