For big initiatives, there is always not enough time and resources. However, this is a common fact for B2B marketing leaders. What is not missing is data. But marketing companies cannot figure out how to use this data to make the right decisions.
In this article, we want to show you 4 ways how marketing leaders can better use their teams and resources to grow their business development.
Data generation is not the same as data understanding.
Marketing managers and executives who start working in a new company or who have a task to create a demand generation mechanism are faced with the problem of data utility.
That is to say, marketers reveal a major problem: existing marketing systems generate data, but the data is not usable and not useful.
The use of various marketing automation systems and instances of CRM is a serious challenge for medium companies to large-scale organizations. For example, a sales department, a corporate marketing department, product department, or regional groups may use separate systems.
Various departments report differently, and this creates incompatibilities. For example, some teams track certain indicators, while others do not. Or indicators are determined and measured differently depending on the system which creates the report.
Marketing leaders build development plans and think several quarters or years beforehand. Unluckily, plans are highly dependent on suppositions. In turn, a plan is just a list of objectives above the implementation plan, which does not inspire confidence.During each quarter, the CMOs have to cross their fingers, not knowing whether the team will achieve the goal. Or, even worse, sign up too often to ask the question: how do we track?To solve this challenge, marketers should focus on planning and execution. In particular, the reduction of assumptions is embedded into the plan.
The best practices are secure. These are standard actions that are trusted when there is no clarity.
Best practices are the answer when marketers cannot see the future and must make a bid in the present.
An example is a decision on how to achieve quarterly goals or what to do if you did not reach the goal in the middle of the quarter.
Often changes must be made to hit the target. In these cases, the best practice or someone else’s program is the reason for changing costs.
