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.
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
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
I have been meaning to write about Salesforce since its Dreamforce 2015 conference. Salesforce provides a platform, tools and applications for business and IT who claims to be the ‘no software’ company which as you will read is exactly what happened on May 10th. Heck, Salesforce is making a lot of advances on its platform, its applications and even with Analytics and the Internet of Things. These changes are at the center of what at our analyst firm calls digital business innovation. Much of what it’s doing is very good, but now I am questioning whether the company’s foundation of business processes and technology platform has reached a point at which it can’t grow any further without impacting its own customers’ operations and success. That may be a harsh statement, but I think my reasoning will become clear as you read this perspective.
Topics: Analytics, Business Analytics, Business Collaboration, Business Mobility, Cloud Computing, CRM, Customer Performance Management (CPM), Customer Service, IOT, Marketing, NA14, Sales, Sales Performance Management (SPM), Salesforce.com
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
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
The learning management system (LMS) offers opportunity for organizations to progressively enhance the effectiveness of their workforce. An advanced LMS can be more than a digital version of an organization’s training programs for specific jobs or to achieve compliance with policies and regulations. It can provide dynamic yet informal learning that business units can create, deploy and sustain through their own efforts. Last year I outlined the benefits of this new generation of learning management systems.
Topics: Business Analytics, Business Collaboration, Business Performance Management (BPM), Cloud Computing, Customer Performance Management (CPM), Financial Performance Management (FPM), Human Capital, Operational Performance Management (OPM), Sales Performance Management (SPM), Supply Chain Performance Management (SCPM), Uncategorized, LMS
I hope this title captures your attention; I’m trying to make a point about the chaos going on in managing and operating marketing. What marketing needs in 2016 is to manage and optimize its efforts in a more unified manner. This perspective kicks off a new series on the challenges for marketing to automate or execute tasks and manage toward maximum performance. We all know that the craft of marketing is in need of significant transformation, from the CMO throughout the entire marketing organization and all the way out to the experience of consumers and customers. But this may be a fanciful mission, as applications and technology does not really automate marketing let alone manage it. Most marketing automation products are specialized applications that are not used by marketing management, let alone front-line marketing managers; they are for specialized needs in demand generation or digital marketing that personalizes inbound and outbound interactions with contacts for the purpose of advancing dialogue and creating relationships. Marketing automation, like its cousin sales force automation, has been a placeholder category that describes only a narrow slice of marketing, and the term has been co-opted by the industry for its own purposes. Though some observers predict that CMOs will outspend CIOs and other leaders of the business in technology investments, I have debunked this ludicrous idea; even if it were true, that would not make marketing departments much more efficient in their management and operations. To counterbalance the silliness of the marketing automation dialogue, I plan to bring you a series on key areas for investment to start the conversation. Evaluating them should help Marketing demonstrate its commitment to promoting effectively its organization and its products and services. Here is an overview of the many issues in the landscape.
Topics: Big Data, Business Analytics, Business Collaboration, Business Performance Management (BPM), Cloud Computing, Customer Performance Management (CPM), Financial Performance Management (FPM), Information Applications (IA), Information Optimization, Location Intelligence, Operational Intelligence, Operational Performance Management (OPM), Predictive Analytics, Sales Performance Management (SPM), Social Media, Uncategorized, Business Intelligence, CMO
For several years I have been advocating that sales organizations adapt their processes and applications to optimize both sales performance and the customer experience. For details see my research agenda for last year. However, it appears that not many sales organizations have responded to this challenge; many can barely maintain their quarterly sales forecasts and monthly pipeline, track progress toward quotas and ensure that sales commissions are processed promptly and paid accurately. A great many are still using spreadsheets for these critical activities. Yet our benchmark research finds that more than half (61%) who use them for commissions said this makes the effort more difficult. Elsewhere, I have seen B2B sales organizations continue down the old path of annoying prospects with direct cold calling and email instead of nurturing real relationships. For B2C sales, the digital age of search engine optimization (SEO) and pay-per-click (PPC) has begun to haunt prospects by inserting ads in our personal social media channels. My research suggests that these practices are not due to bad intentions but to force of habit and lack of desire, time and resources to develop a modern strategy and plan. Most are just managing the basics of their sales processes and relying on sales force automation (SFA) systems, reporting and dashboards, which will only produce more of the same, less than optimal results.
Topics: Business Analytics, Business Collaboration, Business Performance Management (BPM), Customer Performance Management (CPM), Financial Performance Management (FPM), Operational Performance Management (OPM), Predictive Analytics, Sales, SFA, SPM, Sales Performance Management, Sal, Uncategorized, Big Data