Like any aspect of an organization, marketing is impacted by other areas of the business, such as allocated budget, business goals, competency of team members, effectiveness of communications, integration with sales, utilization of technology, etc.
So, how can businesses begin to accurately evaluate the effectiveness of the existing marketing program, and assess whether the current structure is positioned for success? What elements should be included as part of this assessment, and how should they be rated in comparison to others?
Marketing Score is designed to simplify this cumbersome assessment by breaking down core business elements into 10 sections with more than 130 total factors. Respondents rate each factor on a scale of 1-10, ultimately classifying them as an asset, neutral or escalator (aka. a strength, neutral, or weakness) to the organization.
Overview by Section
To offer members insight into the 10 sections included within the Marketing Score assessment, below is a section-by-section description of the reasoning behind including each area graded in the final report.
- Business Cores: An organization’s basic structure affects its ability to build a strong business and brand. Factors that play a key role here include culture, communications, financial stability, innovation, and more.
- Audiences: Effective external and internal communications enable businesses to build mutually beneficial and authentic relationships with the people they care about most. Good relationships grow brand awareness and industry thought leadership, drive sales and customer loyalty, improve employee retention, and more.
- Marketing Performance: The historical performance of your marketing program is important for benchmarking your current position, as well as identifying areas for improvement. For example, if your organization isn’t tracking the cost of customer acquisition (COCA) through various channels (i.e. blogging, social media, trade shows, etc.), it becomes difficult to forecast realistic goals in these areas, as well as justify allocating additional resources to support them.
- Marketing Cores: Similar to business cores, marketing cores are assessed on the perceived strength of an organization’s brand awareness, competitive advantage, marketing and sales integration, and more.
- Lead Sources: Organizations generate leads through many sources, but must consider which ones are most effective in generating highly qualified leads. By identifying these channels, your business can allocate resources to channels that have the greatest impact on your sales funnel.
- Marketing Team Strength: Assess your team’s skills to identify which areas can be effectively kept in-house, which you may need to hire new talent for, or where an outside vendor might add the most value. For example, if you run a traditional agency with little knowledge of coding or web development, partnering with a web firm might make the most sense when looking to support web projects for your clients.
- Marketing Technology Utilization: Marketing and sales technologies are crucial to a business’ ability to track and monitor contacts through the sales cycle. Without the right technologies and processes in place, as well as necessary integrations to track closed-loop marketing, teams may leave gaps in the sales process that hinder the success of the company.
- Social Media Marketing: Social media functions as a communication channel for distributing content, connecting with leads and prospects, nurturing relationships with job candidates and industry peers, and more.
- Content Marketing: Content is a key way for organizations to showcase industry expertise, speak to the pain points of prospects, provide value beyond a product or service, optimize for search, and effectively call target audiences to take a desired action. Content drives many other aspects of an integrated marketing campaign, such as social media, lead nurturing, and public relations, and is therefore an important piece of the assessment.
- Public Relations: While online activities are essential to a business, offline events and interactions help solidify personal communications and build brand awareness. Understanding the right mixture for your business is important for gaining buy-in from advocates of both.
What elements of the business does your organization consider when evaluating marketing potential and performance? Are there any areas included in Marketing Score that you had previously not included as part of your internal assessment?
We’d like to hear your thoughts on how these various areas play into the overall success of a team and business in achieving its goals.