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Customer-obsessed marketing

Benchmark Your Marketing Performance Management

Laura Ramos
Vice President, Principal Analyst
April 23, 2013

Ask CMOs what tops their challenges list, and most admit that improving marketing's accountability ranks right up there.

B2B marketing execs worry about measuring marketing performance a bit more than B2C since a direct sales force and/or channel partners are largely responsible for the last mile of the customer purchase process.  

Managing marketing performance is a perennial issue all marketers face.

Unlike revenue growth or margin, there are few accepted answers to the question, "What value does the business get from your marketing investment?" Typical answers focus on pipeline, which Sales then hotly contests.

The last time I tackled this question in 2007, I found that B2B marketers struggle to build sustainable measurement practices for these key reasons:
 
1) They don't use metrics to monitor increases in customer value to their firms over time.
2) They fail to look beyond the front of the pipeline to track marketing impact.  
     Especially with existing customers.
3) They neglect to close the customer interaction loop with sales.
 
Have things changed much in the intervening years? Have B2B marketers and their peers become more capable or proficient in using marketing data, metrics, and analytics to inform marketing decisions, predict buyer behavior, improve marketing performance, and forecast trends?  I hope you will join me in an opportunity to find out.
 
During the month of April, Forrester will team with the IT Services Marketing Association (ITSMA) and VisionEdge Marketing (VEM) to sponsor the 12th annual Marketing Performance Management survey.  You can access the survey here and it should take you about 15 to 20 minutes to complete thoughtfully.
 
In appreciation for completing the survey, all respondents will receive an executive summary of the survey results.  We will also enter the first 500 who complete the survey in a drawing that gives you a chance to win a new Kindle Fire. 
 
Forrester clients and ITSMA members will receive the full report from your respective provider.  (More details on this to follow.)
 
How have you changed the way you manage marketing performance?  I hope you can spare 15 minutes today to share your experiences by taking our survey.
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