Putting Meaning Back Into Marketing
Everyone in an organization is (hopefully) aware that marketing is essential to a company’s success. However, when asked to define what the marketing team does and how it impacts business, answers tend to come up short.
Responses such as “social media, graphic design, advertising, emails and brochures,” are going to be most common – but chances are, if someone isn’t on the marketing team or doesn’t deal directly with the department, there’s probably some mystery to what’s being done there.
What Do Other Departments Think Marketing Does?
In fact, a recent survey revealed that only 13% of non-marketing employees think marketing drives business strategy, with 53% saying marketers are responsible for advertising and promotion and 43% saying its brand management. Marketing was noted as the least important department within the organization. As marketers, we know this simply isn’t true.
While all departments have their individual functions, without marketing, a company would be an anonymous entity operating with a limited customer base. The purpose of marketing is to bring in more customers, encourage and cultivate growth and discover how to better serve customers.
To do that effectively, marketers must make the rest of the organization aware of their jobs, their importance and their function in conjunction with each separate department.
Marketers have undoubtedly mastered their field and are constantly evolving it to be more insightful and efficient. Now it’s time to put the same amount of energy into informing the company about what marketing does well – and how they can collaborate as a team to increase the role the department plays in driving strategic change.
Data Analysis and Insight
One of the most crucial shifts in marketing has been the advent of data analysis to gain customer insight. It is also one of the lesser-known activities of marketers – with only 18% of non-marketers identifying it as a marketing function.
Within a business, 48% of data analytics are used to gain a better understanding of the customer. Much of that usage falls to the marketing department, who then becomes responsible for collecting and mining the data for better insights into how customers are responding to the company’s offering and what they are looking for from the industry.
Non-marketers are aware that customer insight is critical to achieving competitive advantage, but what they don’t realize is that the marketing department is the one that puts it in action.
Analytics help improve the overall view of a company’s performance and are used to develop content and strategies that resonate with customers to generate leads and increase revenue.
For 58% of CMOs, analytics are important for SEO and email marketing research. Another vital area that benefits from data is customer segmentation, with 49% of CMOs citing this as a key marketing function. Knowing which customers are relevant to which areas of the business can make a huge difference in reaching them effectively.
If a company wants to know what their customers are feeling, thinking …read more
Source:: HubSpot Blog