Today’s marketing and media landscape has become so complex and complicated, it has become harder than ever to simply market.
It’s led to a veritable fog of marketing in which it’s less clear than ever how to generate results. A survey of 493 companies across all ad sectors found that 80 percent of managers at large firms are not satisfied with marketing’s effectiveness.
Questions keeping up marketing executives week after week include:
How do I create and deliver topline and bottomline growth?
Which martech and data companies should I invest in?
How can I measure the impact of marketing investments? In other words, how do I justify my marketing investments?
What skills and competencies does my department need to stay competitive?
Most often overlooked and least understood in all of marketing is the importance of marketing organization design and structure. Working with MarCaps, our partner and a solutions provider which aims to inform marketing organization design and transformation decisions with strategy and data, we have mapped out a set of 6 values and 72 capabilities that are required to deliver the value.
We identify six sets of value: three that generate customer value (exchange, experience and engagement), and three that generate company value (strategic, operational and knowledge). We then map the 72 capabilities to these 6 sets of value. We suggest a 3 step process to apply this framework:
Choosing the value(s) the marketing organization wants to create
Assessing the importance and development levels of capabilities needed to create the value selected in step 1
Designing the capability agenda by prioritizing for investments in new skills, technology and activities
This is all part of vital work that MOSTT and MarCaps are undertaking to help clear the fog of marketing from our members’ – and the industry’s – eyes and business plans.