In the realm of marketing, there exists a distinct group known as the Best-in-Class Marketing organizations, or the “Value Creators.”
These elite entities stand out, particularly in Results-driven organizational cultures, where Steward leadership styles are dominant. Steward leaders focus on taking care of resources, fostering a culture of responsibility, and ensuring the long-term success of their organization.
But what truly sets the Value Creators apart from their counterparts like the Sales Enablers and Campaign Producers?
This post discusses the defining attributes and unique characteristics of the Value Creators. Moreover, we’ll explore the unparalleled advantages they bring to the table.
Sourced from the second chapter of the comprehensive 2021-22 Marketing Performance Management study by VisionEdge Marketing, Inc. (VEM) and the University of Texas, Dallas, Jindal School of Management, this article explores the advanced strategies and methodologies employed by top marketing professionals.
As the data will reveal, Value Creators not only command credibility, but also resonate with unmatched relevancy and influence.
- Value Creators excel in data-driven decision-making, setting them apart in the competitive world of marketing with their mastery in measurement.
- In an industry dominated by campaign metrics, Value Creators prioritize genuine impact, focusing on metrics that resonate with the C-Suite and drive tangible business effects.
- Value Creators consistently reap richer insights and results, leading in advanced metrics and surpassing expectations even in areas traditionally dominated by other personas.
- Dashboards crafted by Value Creators are strategic assets, driving decision-making, resource allocation, and continuous improvement, with a clear emphasis on actionable insights.
- Value Creators demonstrate an unwavering commitment to continuous improvement, positioning them to reap significant rewards and influence strategic decisions.
Understanding Best-in-Class Marketing Organizations
For over 16 years, the MPM Benchmark Study utilized a grading method to evaluate the perception of the C-Suite regarding the value and contribution of their Marketing department. This resulted in classifying Marketing operations into three distinct personas:
- Value Creators. Value Creators focus on a customer-centric approach, leveraging data-driven insights to achieve sustainable and profitable growth. They prioritize customer success and value, aligning their strategies with customer-centric imperatives.
- Sales Enablers. Sales Enablers ensure that sales teams have the necessary resources, knowledge, and training to effectively sell products or services. They play a crucial role in bridging the gap between marketing efforts and sales outcomes.
- Campaign Producers. Campaign Producers work to promote a product, service, or brand through various marketing channels. They strategize, design, and oversee campaigns to ensure they reach the target audience effectively.
To fully grasp the insights and discussions presented in this article, it is essential to familiarize yourself with these key terms as they are integral to the content that follows.
1. Mastery in Measurement
Data-driven decision-making remains paramount. The Value Creators, with their unparalleled approach to metrics, stand as a testament to this fact.
The Value Creators’ approach to measurement is about deriving meaningful insights that drive strategic decisions. Their mastery in measurement is a cornerstone of their success, setting them apart in the competitive world of marketing.
The Value Creators have consistently showcased their prowess in harnessing data to bolster both business and marketing performance. Their adeptness in this realm is evident from the insights drawn.
It’s not just about collecting data, but about measuring what truly matters. Value Creators have set a benchmark in this domain. They outshine their peers, being 2.8X more proficient than Sales Enablers and a staggering 8.9X more than Campaign Producers in quantifying their contribution to the business.
Aligning with the C-Suite
One of the hallmarks of Value Creators is their ability to resonate with the high standards of an organization. They excel in cherry-picking metrics that hold significance for the C-Suite. Their performance management dashboards are meticulously crafted, reflecting these chosen metrics and effectively communicating the value they bring to the table.
2. Focusing on What Truly Matters
In an industry often swayed by the allure of flashy campaign metrics, the Value Creators stand out by prioritizing what’s genuinely impactful.
Beyond Campaign Delivery Metrics
While many marketers fixate on campaign delivery outcomes, Value Creators take a more discerning approach. They recognize that true measures of effectiveness go beyond mere campaign results, encompassing response, brand impact, and tangible business effects.
Resonating with the C-Suite
It’s not just about measuring, but rather measuring what’s pivotal for the organization’s leadership. Value Creators have an innate ability to discern which metrics resonate with the C-Suite.
This proficiency is evident as they are 4X more likely than Campaign Producers and 2X more likely than Sales Enablers to effectively link their measures to overarching business outcomes.
Holistic Measurement Approach
The Value Creators’ measurement strategy is comprehensive, covering a spectrum of crucial areas:
- Brand Metrics. Focusing on brand awareness, preference, and strength.
- Market Metrics. Emphasizing market share, category ownership, and product adoption rates.
- Customer Metrics. Prioritizing customer satisfaction, advocacy/NPS, referrals, and lifetime value.
- Pipeline Metrics. Highlighting net new relationships and strategic partner opportunities.
The Value Creators’ strength lies in their ability to sift through the noise and focus on metrics that truly matter, ensuring that their strategies are aligned with the organization’s core objectives and the expectations of its leadership.
3. The Exceptional Harvest
While all personas undeniably bring something to the table, Value Creators, with their refined approach, consistently reap a richer harvest of insights and results.
Every marketing persona, including Value Creators, presents specific measures to the C-Suite. These commonly shared metrics commonly encompass:
- Activity Metrics. Including the number of press releases, events, promotions, and content pieces.
- Output Metrics. Highlighting open rates, response rates, download rates, and event registrants.
Leading the Pack
While there’s a shared foundation, Value Creators distinctly lead in several advanced metrics, showcasing their depth and breadth:
- Operational Metrics. Emphasizing marketing program time, delivery metrics, headcount allocations, and budgetary considerations.
- Outcome Metrics. Focusing on tangible results like category ownership, market traction, customer lifetime value, and market share.
- Leading Indicators. Capturing forward-looking insights such as share of preference, share of wallet, and opportunities for new strategic partnerships.
One might assume that Sales Enablers, given their direct tie to the Sales function, would excel in sales enablement metrics. However, in a surprising twist, Value Creators outshine even the Sales Enablers in this domain. On the other hand, Campaign Producers, operating much like internal agencies, demonstrate strength in activity, spend, and operation metrics.
4. Dashboards that Drive Action
In recent years, dashboards have become the nerve center of marketing operations. But not all dashboards are created equal. The Value Creators, with their strategic approach, design dashboards that not only inform, but also inspire action.
Distinctive Performance Dashboards
Value Creators’ distinctive dashboards stand out from typical marketing dashboards because they not only track metrics, but also drive:
- Resource allocation
- Continuous improvement
They ensure that Marketing’s efforts align with the organization’s objectives and provide the C-Suite with actionable insights for impactful strategic recommendations.
Resource Allocation and Justification
A well-designed dashboard does more than just present data; it tells a story. The narratives crafted by Value Creators through their dashboards provide them with a robust foundation to secure more resources, showcasing the tangible value they bring to the organization.
For example, imagine a marketing organization named “TechFlow.” TechFlow’s Value Creators designed a dashboard that visually tracked the ROI of their Q1 online ad campaign.
The data revealed that for every $1 spent, there was a $4 return in sales, with a reach 50% greater than previous campaigns. This compelling narrative, showcased through the dashboard, enabled the Value Creators to secure a 20% increase in their ad budget for Q2, highlighting the tangible value of their efforts to the organization.
Room for Growth
Despite the strengths of Value Creators’ dashboards, there’s always room for improvement. The evolving landscape of marketing demands continuous refinement, and there’s a significant opportunity for all Marketing organizations, including Value Creators, to further enhance their dashboard development and utilization.
5. Equipped for Excellence
Having the right tools and skills can make all the difference. The Value Creators, with their arsenal of resources and sharp business acumen, are perfectly poised to excel.
Business Acumen as a Differentiator
One of the standout traits of Value Creators is their profound business acumen. This skill not only sets them apart from other personas, but also facilitates richer, more strategic conversations that guide their decision-making processes.
Essential Tools for Performance Management
Value Creators understand that to manage performance effectively, one needs the right tools. They rely on three pivotal tools to support their performance management endeavors:
- Data Inventory. A comprehensive overview of data sources, access points, and update frequencies. This tool ensures that data is always relevant, updated, and accessible.
- Metrics Catalogs. A detailed repository of measures, their calculations, and reporting locations. This catalog ensures consistency and clarity in measurement.
- Data/Logic Chains. These chains effectively link measures from activity to outcome, ensuring a clear line of sight from marketing efforts to tangible business results.
Continuous Investment in Tools
Recognizing the dynamic nature of data and the evolving needs of businesses, Value Creators are committed to continuous investment in their tools. Their strength in producing a data inventory is particularly noteworthy, and they consistently invest in this area to stay ahead of the curve.
Commitment to Improvement
Beyond tools and skills, what truly sets Value Creators apart is their unwavering commitment to bettering their performance management capabilities.
They not only have a well-defined plan for improvement, but are also proactive in implementing it. Their dedication is clear, with Value Creators being more than 2X likely to have a comprehensive plan for enhancing performance management and business impact.
6. Reaping the Rewards
The journey of the Value Creators is marked by strategic decisions, meticulous measurement, and unwavering commitment. But does this journey yield tangible benefits? The answer is a resounding yes.
Tangible Business Benefits
The efforts of the Value Creators do not go unnoticed. On the business front, they consistently outperform their counterparts. Their prowess is evident in their ability to enhance operational efficiency, make timely course corrections, and offer strategic recommendations. Moreover, they excel in retaining customers and averting potential defections.
While many focus on maintaining the status quo, Value Creators are all about growth. Their approach yields dividends in several key areas:
- Customer Acquisition. They excel in attracting new customers.
- Opportunity Generation. Their strategies lead to the creation of new business opportunities.
- Pipeline Contribution. They play a pivotal role in expanding Marketing’s contribution to the business pipeline.
- Customer Retention. Their efforts ensure that existing customers remain loyal.
- Market Share Expansion. They drive initiatives that increase market share in existing categories.
- Product Adoption. Their strategies accelerate the rate at which new products are adopted in the market.
Recognition and Credibility
The hard work of Value Creators translates into enhanced credibility and relevance. Their contributions are recognized and valued by the C-Suite, leading to increased influence over strategic business decisions.
The strengths of Value Creators in performance management, combined with their business acumen and credibility, position them as influential players in strategic decision-making processes within the organization.
Create Value in Your Organization Today with ISBM
Among the marketing realm’s many key players, Value Creators shine the brightest. Their strategic approach, unwavering commitment to measurement, and focus on what truly matters set them apart. Equipped with the right tools, insights, and a growth-centric mindset, they consistently reap rewards that benefit not just their teams but the entire organization.
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