Build the Marketing Engine that Drives Real Outcomes
Marketing is the engine that drives business growth. By creating awareness of your brand and generating interest in your products or services, marketing helps you to build a customer base and achieve sales growth. But how do you create a marketing strategy that will achieve these objectives?
Challenges that marketing teams face
Finding the right direction
Marketing teams are under constant pressure to produce results. With the overwhelm of data and technology, it's difficult to know where to start and what direction to take. Prioritizing initiatives and allocating resources can feel like an impossible task.
Being overly ambitious
One of the biggest mistakes most marketing teams make is they start with a very ambitious target instead of grabbing the low hanging opportunities first. This results in them missing out on the smaller, yet still significant, gains by targeting a more achievable goal.
Justifying the spends
Justifying marketing spending can be a tough task for marketing teams, especially when they have spent recklessly without a solid plan. There are several factors that need to be considered when allocating marketing budgets, such as target audience, objectives, channels, and ROI.
Tracking the marketing ROI
Marketing teams struggle to justify their budgets to their organizations. While there is no easy solution to this problem, marketing teams can use relevant data to get a better understanding of how their activities are impacting the bottom line. With the right tools and approach, it is possible to track ROI and make sound decisions about marketing investment.
How OKRs can add direction and velocity to marketing
By setting specific objectives and key results, marketing teams can track their progress and ensure that they are meeting their targets. This information can be used to adjust strategies and tactics as necessary.
OKRs can help marketing teams measure the results of their efforts and determine whether they are having the desired impact. This data can be used to inform future decisions and ensure that resources are being used effectively.
OKRs can improve communication between marketing team members and other departments by providing a common language and framework for discussion. This can help to ensure that everyone is on the same page and working towards the same objectives.
The use of OKRs can increase accountability within marketing teams by holding individuals and groups accountable for their results. This can motivate team members to perform at their best and achieve their objectives.
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