The relevance of marketing to an organization depends on planning and performance measured against it. In writing about marketing management I have observed the marketing mayhem that can occur but also have noted that organizations that take marketing performance management seriously are in better position to assess their efforts in relation to goals and outcomes. I have a little experience in having been a CMO and VP Marketing in my career and know how frantic it can be to managing marketing. Taking it seriously requires more effective technology than spreadsheets and presentations; we recommend using a dedicated application that supports management of both marketing operations and processes that contribute to optimal performance.
As global business increases competitive pressures, marketing departments face new challenges. They must anticipate and respond to frequently changing customer preferences and produce effective programs and campaigns to attract them. In the online world where customers can jump instantly from one company to another, Marketing must develop new ways to catch and hold their attention. Doing this well requires systematic, flexible planning that begins with the CMO and engages the entire department to utilize the full portfolio of resources and act as one to serve their mission.
Managing marketing performance is anything but simple. It requires establishing a unified approach to assess the outcomes of initiatives and projects and compare results with investments in marketing people and campaigns. In general, while performance management has been conducted effectively at the corporate levels, it has been a challenge for most lines of business, marketing departments included.
Topics: Business Analytics, Business Performance Management (BPM), CMO, Customer Performance Management (CPM), Demand Generation, Marketing, Marketing Performance Management, Marketing Planning, Operational Performance Management (OPM), Sales Performance Management (SPM), Social Media, Uncategorized, Business Intelligence
It’s widely agreed that customer experience is now the most important dynamic for business. Any organization that wants to retain loyal and even vocal customers should do everything possible to ensure and maintain customer satisfaction. Software companies, especially those that promise to provide CRM and effective interactions across any channel at any time, should be good examples of embracing the methods they prescribe for using their products. But do they?
Topics: Cloud Computing, Customer Experience, Customer Performance Management (CPM), Financial Performance Management (FPM), Governance, Risk & Compliance (GRC), HCM, HR, HRMS, Human Capital, Human Capital Management, Marketing, NA14, NetSuite, Operational Performance Management (OPM), Sales Performance Management (SPM), Social Media, TribeHR, Workforce Performance Management (WPM), Zach Nelson
Organizations in all industries face various difficulties in managing product information. The most serious is providing complete, engaging information to consumers and customers on the internet. Newly developed products, mergers and acquisitions, changes to pricing and promotions in online commerce spur business growth, but these factors also increase the amount and complexity of product-related data and content. In addition the digital economy offers a new generation of services that are sold by subscription and packaged in various options and price points. As well, global diversification of suppliers, customers and business partners forces organizations to manage data quality and consistency in multiple locations, currencies and languages.
Topics: Big Data, Business Analytics, Business Performance Management (BPM), Cloud Computing, Customer Performance Management (CPM), Financial Performance Management (FPM), Information Management (IM), Information Optimization, Operational Performance Management (OPM), PIM, Product Information Management, Sales, Market, Sales Performance Management (SPM), Supply Chain Performance Management (SCPM), Uncategorized
Through a federal rule referred to as “Overtime Rule” and part of Title 29 regulations was issued on May 18th, 2016 by the Department of Labor (DOL), the Obama administration now mandates that unless they meet criteria for exemption, employees paid less than $47,476 ($22.825 per hour) are entitled to overtime pay when they work more than 40 hours per week. The rule change, which goes into effective on December 1, 2016, is intended to apply to executive, administrative and professional employees; it has exemptions for teachers, lawyers and other specific jobs and industries.
Topics: Business Analytics, Cloud Computing, Contingent Labor, Customer Performance Management (CPM), Department of Labor, Final Rule, Financial Performance Management (FPM), FLSA, Governance, Governance, Risk & Compliance (GRC), Human Capital, Human Capital Management, Operational Performance Management (OPM), Overtime Rule, Part 541, POTUS, President Obama, Sales Performance Management (SPM), Supply Chain Performance Management (SCPM), Uncategorized, Wage and Labor, Workforce Management, Workforce Performance Management (WPM), Workforce Planning
Organizations are facing a digital transformation, as I have written, that is rapidly changing the applications and services that businesses use to operate and deliver information. This new digital generation addresses the expectations of consumers and business partners for information and service in real time. One example of it is enterprise messaging. Recently I wrote about the shift to this technology and the challenges it poses for organizations that lack sufficient skills. However, new messaging appliances and virtualized messaging can carry some of this burden. By interconnecting them, organizations can be more confident in their ability to support the range of information and applications that operate in real time, not only for people but on devices and machines.
Topics: Big Data, Business Analytics, Business Collaboration, Business Performance Management (BPM), Cloud Computing, Customer Performance Management (CPM), Enterprise messaging, Internet of Things, IoT, mid, Financial Performance Management (FPM), Governance, Risk & Compliance (GRC), Information Management (IM), Operational Performance Management (OPM), Sales Performance Management (SPM), Social Media, Supply Chain Performance Management (SCPM), Uncategorized
Compensation management is a key activity for engaging all employees and thus for human capital management. I discussed this connection in my perspective on unifying human capital management. In a further step in that direction, I am excited to announce the launch of our next-generation compensation management benchmark research. Determining and providing the appropriate compensation for each person, whether it involves base pay, merit pay, variable pay and incentives or bonuses, or a combination of these, is critical to being able to attract and retain productive members of the workforce – full- or part-time employees, contingent workers and contractors alike. Incentive compensation tied to objectives often is critical in business areas such as call centers, sales and field service. The complexities of compensation make more difficult the core challenge faced by human resources departments: keeping employees productive, satisfied and motivated.
Enterprise messaging is the technology backbone of communications for applications and systems within and between organizations. Both its importance and its complexity are growing as organizations increasingly have to provide real-time responses to business customers and consumers as well as their own business professionals who support them and their internal supply chains. The variety of use cases for enterprise messaging also is growing rapidly, expanding to the Internet of Things (IoT) market of sensors and devices including wearable technology; to new generations of applications and services for consumers and customers; to cloud computing and the shift to platform or infrastructure as a service (PaaS or IaaS); and to real-time big data and analytics. All of these innovations will enable these types of transformation to digital business that is impacting organizations around the world.
Topics: Big Data, Business Performance Management (BPM), Cloud Computing, Customer Performance Management (CPM), Enterprise messaging, Internet of Things, IoT, mid, Governance, Risk & Compliance (GRC), Information Management (IM), Information Optimization, Operational Intelligence, Operational Performance Management (OPM), Social Media, Supply Chain Performance Management (SCPM), Uncategorized
As the global economy transforms into a world of digital services that cross industries, including those that provide value-added services for physical products, managing the complications that arise from digital browsing, selection and purchasing of goods, as well as activation, billing and servicing of accounts, becomes a challenge. Organizations have to not just engage customers but provide satisfying experiences that keep them coming back. Our benchmark research on next-generation customer engagement shows that improving the customer experience is the most widespread impetus to improve engagement, for almost three-quarters (74%) of organizations. Few however have established business processes and applications that support these efforts, which today involve marketing, sales, customer service, operations and accounting departments. We also find that some of the largest suppliers of cloud computing software provide the worst experiences when it comes to billing for and changing existing subscriptions.
Topics: Business Analytics, Business Performance Management (BPM), Customer Performance Management (CPM), Financial Performance Management (FPM), Operational Performance Management (OPM), Sales Performance Management (SPM), Subscription, Recurring Revenue, Zuora, Uncategorized