Measuring Up: Marketers Indicate Marketing Efficiency Vital Strategy
With today’s marketing landscape, we’re all aware that more and more marketers are aligning marketing strategy to key metrics and customer success. Not surprisingly, marketing efficiency and speed-to-market are at the top of the list.
Fineline’s Director of Sales and Client Services, Beth Coleman Valdettaro recently talked about how to ensure customer needs are continually being met. But how do you measure marketing efficiency at the top of the funnel? And how does that translate to customer success?
These are questions today’s marketers ask themselves alot. According to the “How Marketers Measure Success” survey by Forbes and Aprimo, there is still considerable room for improvement for brands of all sizes and scales.
Here are the top areas marketers reported tracking when it comes to marketing efficiency:
With improved technology and marketing efficiency through automation investments, 37% of marketers are now tracking efficiency, effectiveness, and speed to market. Alongside technology, upticks in content production and website value mean brands are more impacted than ever with measuring content marketing, meaning nearly 30% of marketers are measuring on-time completion of marketing projects.
A big component to marketing effieciency is that people are really starting to understand the value of customer service, in a completely different way. Between new considerations like UX design and a business transparency, the consumer and service provider relationship is stronger than ever. Fineline’s motto: “We won’t ask for your business until we can improve it,” doesn’t shy away from this philosophy. In fact the recent announcement of our new Finelink 2.0 online marketing platform was birthed out of exceptional customer service, and the complete understanding of the power of marketing efficiency – from creation to production. It’s not just us, all good marketers share this philosophy, hence 27% of marketers are now measuring customer focus.
As Simon Sinek explains in his book “Start with Why” employee care and customer service are the two biggest differentiators Southwest Airlines built it’s name on as the most profitable airline company in the business. In the same thread, 24% of marketers are now measuring customer focus and response. Customers have become the “why” in a good agile marketing environment.
If the only thing you’re measuring marketing efficiency against is dollars and cents, Forbes and Aprimo may have something to say differently. Start back at the beginning, know your “why” and how it’s translating to customer service and response. Being flexible and responsive is a faster line-of-sight to goals than only checking boxes.
Check out the below infographic for marketing efficiency metrics reported from leading marketers around the world: