10 Questions to Evaluate Your Marketing Effectiveness
How to Conduct a Quick and Effective B2B Marketing Assessment
All of you numbers-focused and results-obsessed marketers understand the importance of the quantitative side of B2B marketing. You measure the number of inquiries, cost per inquiry, number of opportunities, specific media performance, and numerous other details. And if you do this right, you keep your CEO and the rest of the executive team happy.
Assuming you don’t try to run your business strictly by spreadsheet, all these types of measurements can be valuable. However, they never tell the whole story. There is a qualitative side to marketing that is equally important. Fortunately, there are a few essential questions you can answer in a short period of time that can let you know if you are headed in the right direction. Best of all there is no data to collect and no spreadsheets to fill out for this exercise. So take a break from the quantitative side, grab a cup of coffee, and give some serious thought to these questions:
- Do you feel that your current messaging platform (tagline, brand promise, value proposition and “about us” boilerplate) accurately reflects your company strengths?
- Are you differentiated from your competitors in a way that is understood and appreciated by your prospects and customers?
- Is the relationship between the marketing and sales departments and leaders productive, poisonous, or something in between?
- Is everyone in the marketing and sales organizations aligned in terms of messaging, process and reporting?
- Is your lead hand-off process well-documented and consistently executed?
- Would the sales team describe the current lead flow as strong, good, weak or non-existent and do they have to find their own leads to make quota?
- Would your CEO say that the marketing department is an asset, liability or something in between?
- Are your key marketing metrics improving, declining or flat?
- Do you have a solid marketing team with key players in every position?
- Are there weaknesses in your marketing organization or game plan that hinder your company’s chances for success?
This is just a small portion of what we go through when we do a complete revenue assessment – but it still has value. B2B marketing is tough, but it is even tougher if you fail to ask the relevant questions on a regular basis. The good news is that your quick marketing assessment doesn’t have to be based on tons of data. So put your email and IM on hold and spend a few minutes pondering the state of your marketing effectiveness.