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The foundation of every Marketing plan and dashboard is quantifiable customer-centric Marketing objectives. If the Marketing objectives aren’t aligned with the business outcomes, Marketing will be at a disadvantage in demonstrating its value to the business right from the get go.

How do you make sure your Marketing planning and dashboard development efforts aren’t for naught? Know the three questions:

  1. What are your organization’s business outcomes?
  2. Which of these outcomes is Marketing expected to impact?
  3. How will the organization know whether Marketing achieved this impact?

Know the answers? You’re a rare breed. Would you be shocked to learn that many Marketing organizations do not know the answers to these questions! Our research in the area of Marketing Performance Measurement  (MPM) reveals that it is unclear to the leadership of over 2/3 of Marketing organization’s on how Marketing impacts the business.  Other research such as the Kantor and the VisualIQ study reveal similar results.

Why does this situation persist? There isn’t a clear link between Marketing activities and business outcomes for as many half of the Marketing organization’s in these studies.

Some Marketing organization has an inkling into the business outcomes. These organization make what we call intelligent assumptions about the business outcomes.   Outcomes framed as increase revenue or improve customer retention don’t provide  vital directional guidance.

Know the outcomes before you craft your Marketing plan

Goals are directional. Outcomes provide direction, clarify success, define priorities.

Goals vs. Outcomes – What the Difference and Why You Should Care

What’s the difference between a goal and an outcome? A goal indicates intention whereas an outcome specifies a result. Statements such as improve customer retention and/or increase revenue are goals.  Outcomes are far more specific. Some examples might be:

  • retain 90 percent of our tier one customers resulting in X dollars revenue
  • acquire 50 net new customers from industry segment X with an average order value of $10,000 each quarter
  • double the number of customers who have two or more products based on Y platform
  • increase our rate of growth within our category by 15% resulting in X more revenue

Outcomes provide direction. Outcomes clarify success.  Outcomes define priorities. Outcomes are all inclusive. Every part of the organization should know the outcomes and their role in bringing the outcome to reality.  

Business outcomes are essential for successful Marketing

Once you know the outcomes and the answers to the other two questions, you can establish quantifiable outcome-based Marketing objectives. You can develop a Marketing plan designed to achieve those outcomes Marketing is expected to impact. These outcomes provide the starting point for your dashboard. 

It will be clear what data, metrics, and analytics Marketing needs related to customers and the market to support the outcomes and achieve the objectives. Success will be far less arbitrary.  Which scenario would you prefer?

  1. A vague outcome around increasing revenue and a marketing objective framed around increasing the number of qualified leads?
  2. An outcome framed around acquiring #N net new customers that increase revenue to $Y so you can create a quantifiable marketing objective such as, generate #X conversations with #N non-current customers quarterly with X% these converting to level 2 demos resulting in #N new qualified opportunities within 45 days of demo. 

Scenario 2 is far more concrete.  You will be able to develop, implement, monitor and adjust strategies, programs, activities, and the associated metrics for scenario 2. So before you start writing your next marketing plan be sure you know the answers to three questions: what are our organizations business outcomes, which of these is Marketing expected to impact and how will your success be measured?

Make sure the hard work of creating your plan and dashboard pays off.

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