Marketing Performance Management Benchmark Report
Marketing Performance Management Benchmark Report
Marketing Performance Management Benchmark Report
PERFORMANCE
MANAGEMENT
Marketing
Performance
Table of Contents Management
Study 2016
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Marketing
Performance
Introduction Management
Study 2016
On June 12, 1881, an expedition bound for the North Pole, commanded
by naval officer George De Long, abandoned their ship that had been stuck
fast in the Polar ice for nearly two years. When the USS Jeanette sank the
next day, the men of the expedition were left to make a long trek southward
across the icecap in an effort to rescue themselves.
* “In the Kingdom of Ice: The Grand and Terrible Polar Voyage of the USS Jeanette”. Hampton Sides, pp. 253-254.
MPM Study: 2016 © 2016 VisionEdge Marketing, Inc. and Demand Metric Research Corporation. All Rights Reserved.! 3
Marketing
Performance
Introduction Management
Study 2016
Although what seems like progress, the results suggest that the ground
shifted under the feet of many of the top performing marketers where
MPM is concerned. This 2016 MPM Benchmark study conveys how some
progress over the past year was real, and some illusory. Measurement
without also validating that the metrics are right creates the appearance of
progress without really producing results. Marketing organizations that want
to earn or keep their seat at the corporate leadership table must focus on
both sides of the analytics coin: data and metrics.
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Marketing
Performance
Introduction Management
Study 2016
This report details the results and insights from the analysis of
the 2016 MPM survey data. Only statistically valid data and
relationships between study variables were included in this
report. For more detail about the survey and its participants,
please refer to Appendix A.
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Marketing
Performance
Introduction Management
Study 2016
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Marketing
Performance
Introduction Management
Study 2016
The pivotal survey question in the MPM Benchmark study asks, “What grade would the CEO give the
marketing organization for its ability to demonstrate its value and contribution to the business?” This
question provides the data for segmenting respondents by grade (Figure 1). This year the number of
marketers earning a “B” grade increased while those earning an “A” remained relatively flat.
A 23%
“Value Creators”
B 41%
“Sales Enablers”
C 26%
“Campaign Producers”
D 10%
“Campaign Producers”
Figure 1: Using a 100 point scale, where 100 is the best, the ratio of grades marketers received from the CEO/
Division GM for their ability to demonstrate value and contribution to the business.
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Marketing
Performance
Introduction Management
Study 2016
This study has over its 15-year course tracked the grade trend (Figure 2). From 2015 to 2016 MPM more
marketers joined the ranks of the B’s. This year’s report tells the story of two journeys: How the B’s
drove their efforts forward and How the A’s, while still ahead, lost ground.
Figure 2: The percentage of Value Creators remains flat over the past decade.
Even with steady if not growing pressure to measure and manage marketing’s performance, the current study
shows no steady rise in the average MPM “GPA”. Campaign Producers became Sales Enablers (B’s),
increasing the number of in the Middle of the Pack. Overall however, the multi-year trend is flat.
The increase in enabling technology and higher C-suite expectations haven’t been a sufficient catalyst
to create a rising trend.
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Marketing
Performance
Introduction Management
Study 2016
From data collected over the 15 year-history of this study we have been able to construct
personas for each grade segment:
A’s: The most strategic and data-driven group. Using their data and instruments, they are
navigating a precise course to a known destination of creating value for customers and the
business. They are focused on producing results or outcomes that matter. These best-in-class
marketers lead all others in terms of performance and are characterized as Value Creators.
B’s: This group understands the destination and even aspires to reach it, but they lack the
commitment to complete the journey. Their focus is doing right, such as demand generation,
without asking if demand generation is the right thing to do. They see themselves as servants of
the sales team, and as such, these middle-of-the-pack marketers and act as Sales Enablers.
C’s and D’s or lower: This largely directionless group doesn’t fully understand that
there is journey to make. They find themselves drifting, pushed about by the unseen currents
to which they resign their fate. Their focus is on activity, but not linked to results. They function
as service providers or and internal agency to the organization, producing outputs on demand.
Compared to other segments profiled, these marketers are Laggards in terms of performance
and this marketing personas is labeled Campaign Producers.
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Marketing
Performance
Introduction Management
Study 2016
One of the characteristics that separates the personas from each other is the perception the C-Suite has of the
Marketer’s knowledge of the business. Value Creators possess greater business knowledge and act as
business people first, and marketers second. Despite their slippage this year, Value Creators remain ahead
of the pack in understanding the core business. This understanding of the business provides vital guidance
to these marketers and facilitates their ability to measure their value and contribution to the business.
71%! 73%!
68%!
59%! 60%!
50%!
41%! 43%!
36%!
Figure 3: The Value Creators scores fell, while the Sales Enablers scores rose. Campaign Producers continue to
trail behind. There is still room for improvement for everyone.
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Planning Your Excellence
JOURNEY
Marketing
Performance
Planning Your Journey Management
Study 2016
It Starts With a Plan
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Marketing
Performance
Planning Your Journey Management
Study 2016
Measuring Contribution
To succeed with MPM, a marketing organization has to make measurement a priority. Any organization
whose “heart” isn’t in the expedition to excellence will see only marginal success at best, and more likely,
failure. Measuring marketing’s value and contribution remains important (Figure 4); but the importance that
these personas attach to MPM is virtually unchanged over the past four years of this study. As you will see,
success with MPM takes more than simply declaring that it’s important.
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Marketing
Performance
Planning Your Journey Management
Study 2016
Excelling at MPM requires discipline and a plan. While Value Creators continue to work a plan, it is the Sales
Enablers that invested energy in an MPM plan (Figure 5). The number of Sales Enablers that created an
MPM plan increased 16 percent in one year!
51%!
48%!
39%! 39%!
36%!
Figure 5: Agreement about the planning proficiency of Campaign Producers remains well below that of Value
Creators and Sales Enablers.
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Marketing
Performance
Planning Your Journey Management
Study 2016
Planning at this level of maturity requires that marketing track and measure its
performance and use the data it collects to improve its own operation, the
business, and to predict revenue.
The Sales Enablers are the only group (see Figure 6) that experienced
increased satisfaction with their performance measurement and data abilities;
while the Value Creator’s satisfaction for these same capabilities declined.
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Marketing
Performance
Planning Your Journey Management
Study 2016
2016: Satisfaction with Marketing's Ability to:!
7.3!
Track and measure performance! 6.3!
4.3!
7.7!
Improve marketing performance using data! 6.6!
4.7!
7.4!
Improve business performance using data! 6.5!
4.5!
7.4!
Create insights & predictions using data! 6.2!
4.5!
Figure 6: 2016 satisfaction by group for performance measurement and data abilities
Figure 7: 2015 Satisfaction by group for performance measurement and data abilities.
MPM Study: 2016 © 2016 VisionEdge Marketing, Inc. and Demand Metric Research Corporation. All Rights Reserved.! 16
Marketing
Performance
Planning Your Journey Management
Study 2016
Impact on Business
Having an impact on the business is far more important than
merely ROI. The more unclear leadership is about marketing’s
impact, the greater the risk to the marketing function. MPM executed
well lifts the fog around marketing’s impact, allowing leaders to Key Point:
understand how Marketing generates new customers, impacts Sales Enablers
loyalty, contributes to revenue, grows market share, creates category
ownership - how Marketing creates value.
and Campaign
Producers made
Even though the marketers earning A’s, the Value Creators,
good headway on
are still superior at demonstrating their impact on the business;
they lost traction and momentum this year while
measuring their
the Sales Enablers and Campaign Producers (B’s and C’s) made contribution to
headway (Figure 6). business and the
Value Creators held
This year the Value Creators experienced a sharp decline, a 12%
regression from last year’s study, in the leadership team’s perception their ground.!
of their impact to the business. This decline signals that the terrain
on which Value Creators stand shifted faster than they
progressed.
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Marketing
Performance
Planning Your Journey Management
Study 2016
% Strongly Agree: It is clear to the leadership team !
how marketing impacts the business!
63%!
51%!
41%! 40%! 2013!
2014!
26%! 2015!
11%! 23%! 24%!
6%! 7%! 2016!
4%! 14%!
Figure 8: The four year trend for how clear it is to the leadership team how each persona impacts the business.
For the first time in three years, the gap between how clear Marketing’s impact is to the leadership
team for Value Creators and their Sales Enablers and Campaign Producers colleagues narrowed. It’s
not enough for marketers to measure performance; marketers must also effectively communicate their
results to the leaders who approve marketing funds. Even though the Sales Enablers and Campaign
Producers advanced in this area; they must find a way to convey how they impact the business to their
leadership (Figure 8). Value Creators, take notice, your progress on this front dipped.
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Marketing
Performance
Planning Your Journey Management
Study 2016
Value Creators continue to lead on being able to impact business results; all personas need to improve on
their ability connect their work to business results.
72%!
Revenue growth! 56%!
35%!
72%!
Marketing contribution to pipeline! 49%!
26%!
48%!
Win rate! 38%!
17%!
48%!
Share of wallet! 35%! 48%!
50%!
Retain customers! 33%!
27%!
72%!
Acquire net new customers! 57%!
36%!
59%!
Increase inquiry rate*! 48%!
20%!
57%!
Improve customer loyalty*! 41%!
30%!
78%!
Generate net new opps*! 64%!
38%!
Figure 9: Value Creators produce greater business results than their counterparts. *Data added to 2016 report.
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Following the Direction of
EXCELLENCE
Marketing
Performance
Following Direction Management
Study 2016
How the marketing team aligns itself with what is important to the business remains a critical differentiator
between the personas. Selecting the right metrics comes as a result of marketers knowing which business
outcomes matter to the C-Suite and business leaders, then aligning marketing to these outcomes. Value
Creators still remain more in tune with which metrics business leaders value.
8.4! 8.3!
7.9! 7.9!
6.9! 6.8! 7.1!
6.5!
5.9!
5.4! 5.1! 5.4!
Figure 10: Sales Enablers are actively addressing selecting the right metrics.
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Marketing
Performance
Following Direction Management
Study 2016
Marketers aligned to the business are better positioned to select metrics that resonate with the leadership
team. As the Value Creators scenario reflects, failure to practice vigilance on selecting the right metrics
will result in marketing drifting backward when it thinks it is standing still, or even progressing.
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Marketing
Performance
Following Direction Management
Study 2016
Data Proficiency
While the Value Creators lost MPM ground in some areas, they remain more proficient at making data central
to strategic decision-making. The bigger surprise is that over the course of the study’s 15-year history, Value
Creators were the undisputed leader in making data-driven, strategic decisions. This year, the Sales Enablers
improvement over last year demonstrates their increased focus on data and how to use it.
8.2!
CEO! 6.7!
5.2!
7.7!
CFO/Finance! 6.6!
4.8!
8.1!
BU Leader! 6.9!
6.7!
8.0!
Sales! 7.0!
5.1!
Figure 11: Data use and influence on business decisions, by MPM persona
MPM Study: 2016 © 2016 VisionEdge Marketing, Inc. and Demand Metric Research Corporation. All Rights Reserved.! 23
Marketing
Performance
Following Direction Management
Study 2016
This year, the Sales Enablers demonstrated that they are not to be left behind. As of this year, there is almost
no difference between Value Creators and Sales Enablers on the use of data to make decisions. Once
again, the Value Creators experience a backward slide in a key category.
94%!
86%! 82%! 84%! 86%!
72%!
63%! 66%!
58%!
52%! 50%!
38%!
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Marketing
Performance
Following Direction Management
Study 2016
The Sales Enablers still reside in the murky middle ground of strategic decision-making, between data usage
and educated guessing. This group, however, made significant gains in their data proficiency. Campaign
Producers continue to struggle with becoming data-to-insights driven.
While it is important to understand how well marketing is using data, it is also essential to understand the
perception this proficiency has on the marketing organization.
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Leverage
DATA
Marketing
Performance
Following Direction Management
Study 2016
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Marketing
Performance
Following Direction Management
Study 2016
For each application of marketing data, the deltas between personas remains substantial, ranging from 13 to 26
percent (Figure 13), with the greatest delta belonging to “Making strategic decisions”. Value Creators are better
by a factor of three to five at data usage.
51%!
Make strategic decisions! 25%!
12%!
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Marketing
Performance
Following Direction Management
Study 2016
Comparing this year to last year, Sales Enablers and Campaign Producers made big gains in data usage
proficiency.
47%!
Make strategic decisions! 9%!
3%!
53%!
Make course adjustments! 16%!
10%!
36%!
Improve operational efficiency! 9%!
11%!
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Marketing
Performance
Following Direction Management
Study 2016
Customer Insights
Marketing has a responsibility to gain a deep
understanding of the organization’s customers, to
share accurate, timely customer insights and use
these insights to gain a competitive advantage. Value
Creators use data more effectively to understand
customer vital signs, Sales Enablers made strong
strides at improving customer insights, particularly
around customer experience and optimizing content
by buying stage (Figure 15).
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Marketing
Performance
Following Direction Management
Study 2016
Figure 15: Heat maps capture the year-to-year change in how effectively the three groups use data to better
understand their customers.
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Marketing
Performance
Following Direction Management
Study 2016
What can you learn from these heat maps? Campaign Producers scores in every category fall below seven,
while Value Creators scores are no lower than seven.
Creating value requires understanding both the business and the customer. Every organization should
count on marketing to serve as the clearinghouse for customer insights. The more effectively Marketing can
leverage data to provide customer insights, the better it can serve as a Value Creator.
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INSIGHTS
Behind Success
Marketing
Performance
Insights Behind Success Management
Study 2016
Credible
Influential
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Marketing
Performance
Insights Behind Success Management
Study 2016
There was a time when being good at marketing was enough for
Marketing to serve the business well. This is no longer true. The
importance of business acumen for marketers is impossible to exaggerate.
As the study over the years reveals, marketers that understand the
businesses they serve are able to fully contribute to the way that
business creates value. Marketers who don’t seek to understand the
business and stay current on that understanding drastically hinder their
ability to create results. The key to marketing influence and
participation in strategic decision-making is business acumen.
The following charts provide insight into how Marketing’s use of data
affects the perception of Marketing by key members of the organization.
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Marketing
Performance
Insights Behind Success Management
Study 2016
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Marketing
Performance
Insights Behind Success Management
Study 2016
Big changes came in the perception of Marketers use of data to demonstrate business acumen. The
business acumen gap among the personas closed considerably. If the degree of closure becomes a
trend, the gap may all but disappear within a year.
8.2!
CEO! 6.5!
5.0!
8.0!
CFO/Finance! 6.5!
4.8!
7.8!
BU Leader! 6.6!
5.1!
8.0!
Sales! 6.8!
5.1!
MPM Study: 2016 © 2016 VisionEdge Marketing, Inc. and Demand Metric Research Corporation. All Rights Reserved.! 37
Marketing
Performance
Insights Behind Success Management
Study 2016
It may seem intuitive, but the data now validates the hypothesis. Marketers who are more adept at using
data have greater credibility.
8.5!
CEO! 6.8!
5.2!
7.9!
CFO/Finance! 6.7!
4.8!
8.0!
BU Leader! 7.0!
5.3!
8.1!
Sales! 7.0!
6.7!
MPM Study: 2016 © 2016 VisionEdge Marketing, Inc. and Demand Metric Research Corporation. All Rights Reserved.! 38
Marketing
Performance
Insights Behind Success Management
Study 2016
And the data also validates the proposition that Marketers who are more adept at using data are perceived
to be more relevant. .
8.4!
CEO! 7.0!
5.1!
8.0!
CFO/Finance! 6.7!
4.8!
7.9!
BU Leader! 6.8!
5.4!
8.1!
Sales! 7.0!
5.3!
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Support from
CEO
Marketing
Performance
Discovering Insights Management
Study 2016
The data in Figures 16 through 18 permit the creation of a new comparison, one that shows the primary
champion or critic for each MPM persona. This determination is relative, simply comparing which of the four
functional areas in Figures 16 through 18 rated each segment the highest, and the lowest (Table 1).
The Value Creators are the only group that has the CEO as a consistent champion. Having the support
of the CEO expands marketing’s influence in the organization.
While the Sales Enablers and Campaign Producers are supported by Sales who benefit from these persona’s
efforts even if no direct contribution is established. These two personas, however, have a more immediate
concern. Their greatest critic is the CFO. These two groups, the Campaign Producers, and to a lesser
degree Sales Enablers, are the personas most perceived as a cost-center rather than a value center.
When the CFO is the consistent critic, the marketing budget is consistently at risk.
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Marketing
Performance
Discovering Insights Management
Study 2016
With few exceptions, for all segments, it is the CFO/Finance function that holds Marketing in the lowest esteem
when it comes to data usage perception. CMOs are wise to pay special attention to the CFO relationship and
cultivate the best possible understanding of marketing’s contribution. It is far better to have the CFO as a
champion rather than a critic when budgets or budget exceptions are up for discussion.
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Marketing
Performance
Discovering Insights Management
Study 2016
Marketing teams create value by moving the business needles listed in Figure 19. As expected, the Value
Creators show the highest level of improvement in their ability to impact key business results– in every area
except “Increase business with existing customers” where they are tied with the Sales Enablers segment.
Figure 19: Over half of Value Creators showed improvement in six of these nine areas.
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Marketing
Performance
Discovering Insights Management
Study 2016
It’s not all good news for Value Creators! Compared to results in the 2015 study, the degree of improvement
for Value Creators declined during 2015. By comparison, the Sales Enablers and Campaign Producers
improved this year over last .
Figure 20: Improvement in key business result areas for 2015, by persona.
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Marketing
Performance
Discovering Insights Management
Study 2016
This particular set of data continues to reinforce the metaphor for this
story. The Value Creators may still be marching in what seems like a
forward direction, but they lost ground. In last year’s study, the average
percentage improvement in all areas for Value Creators was 66 percent.
For this year’s study, the average percentage improvement on business
results over all was:
Earlier we noted that measuring Marketing contribution remains a priority and how vital it is to for Marketing to
clearly convey its impact on the business. The study continues to find that Marketers who impact business
results tend to be better at measuring the impact of their efforts on the achievement of business goals. !
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Marketing
Performance
Discovering Insights Management
Study 2016
Measuring Goal Achievement
Sales Enablers and Campaign Producers made significant progress from the previous to the current MPM
study in being able to measure their contribution to achieving business goals. From the 2015 study, Sales
Enablers jumped 15 percent for this measurement, and Campaign Produces 18 percent, both worthy increases.
Even so, they still lag far behind the Value Creators. When it comes to the perception of true Marketing
contribution to business goals, Value Creators maintained a sizeable lead (Figure 21). All segments must
understand that their best efforts may be in vain if they are unable to connect their results to the
achievement of business goals.
93%! 92%!
Campaign Producers!
68%! Sales Enablers!
53%!
45%! Value Creators!
27%!
2015! 2016!
Figure 21: Sales Enablers and Campaign Producers found firmer measurement ground while the Value Creators
held steady.
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Marketing
Performance
Discovering Insights Management
Study 2016
MPM Study: 2016 © 2016 VisionEdge Marketing, Inc. and Demand Metric Research Corporation. All Rights Reserved.! 47
Select The Right
METRICS
Marketing
Performance
Discovering Insights Management
Study 2016
VisionEdge Marketing has a well-accepted metrics framework that depicts the relationship and hierarchy of
marketing metrics that encompass activity/effort, output/counting, operational/efficiency, outcome/
effectiveness, leading indicators and predictive. While all metrics categories have value, their value as
performance indicators increases from left to right, and this progression represents increasing maturity.
The MPM study measured the usage of metric categories by the MPM personas.
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Marketing
Performance
Discovering Insights Management
Study 2016
The categories of metrics this study measured include:
Activity: metrics associated with production, such as number of press releases produced, blog posts,
articles contributed, email campaigns implemented, etc.
Output: metrics, such as open rates, click-through rates, response rates, trade show leads, event
attendees, fans, followers, mentions, views, downloads, etc.
Operational: metrics for marketing program time and delivery, headcount to program spend, headcount
per activity, budget to spend, campaign ROI, cost per lead, cost per event, etc.
Outcome: metrics, such as marketing pipeline contribution, marketing sourced deals, rate of customer
acquisition, purchase frequency, lifetime value, customer satisfaction, category ownership, average deal
size, total contract value, etc.
Leading indicators: metrics, such as share of preference, share of wallet, net new strategic partnering
opportunities, etc.
Predictive: includes metrics, such as propensity to purchase, campaign lift, likelihood to defect, etc.
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Marketing
Performance
Discovering Insights Management
Study 2016
It’s not a question of data or of metrics, as there is no lack of either (Figure 22). The key is the right mix of
metrics. The progress shown by Sales Enablers in metrics usage is the best explanation for the
advances made by this segment across most fronts in this study.
For each category of metrics, except Activity, Sales Enablers are within single-digit percentages of Value
Creators. And Activity metrics is the one category in which lagging can indicate maturity, as these often serve
as “vanity” metrics that measure something, but without indicating true performance. The most advanced
categories of metrics – Leading Indicators and Predictive – see greatest use by the Value Creators, but
the Sales Enablers gained ground.
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Marketing
Performance
Discovering Insights Management
Study 2016
2015: Use of Marketing Performance Metric Categories!
100%!100%!
92%! 88%! 92%! 95%! 95%!
85%! 81%! Value Creators!
71%!
60%! 57%!
62%! Sales Enablers!
40%! 40%!
Campaign Producers!
35%!
27%! 28%!
Figure 23: Value Creators lead in the usage of every metric category, except one.
Compared to the 2015 results, in the 2016 study all of the MPM personas showed year-to-year increases in the
usage of these most advanced metric categories, but the Sales Enablers posted yearly increases of 42 and
30 percent respectively, massive gains in just 12 months (Figure 22).
Campaign Producers continue to rely most heavily on Activity and Output metrics, the least useful
metrics in the framework. For Sales Enablers, the top metric category once again is Output. Value Creators
continue to lead in Outcome metrics, showing that they are indeed more mature in their selection and use of
metrics.
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Marketing
Performance
Discovering Insights Management
Study 2016
What is encouraging about the metrics landscape in this current study year is
the apparent progress made by all personas in the use of the most leading edge
metrics category: Predictive. The same is true for the second most leading
edge metrics category: Leading Indicators. Only the most mature MPM
practitioners use these types of metrics. One of the reasons they have so
much value is because, unlike the other metrics categories, which are
essentially a look in the rear-view mirror, Leading Indicators and Predictive
metrics help marketers forecast the future.
Another key differentiator between the MPM personas is in the area of setting
quantifiable performance targets for marketing’s programs and objectives.
Once again, the Sales Enablers and Campaign Producers gained traction
and momentum compared to the Value Creators for setting performance
targets. Figures 24 and 25 compare the current year’s MPM study to 2015.
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Marketing
Performance
Discovering Insights Management
Study 2016
Another key differentiator between the MPM personas is in the area of setting quantifiable performance targets
for marketing’s programs and objectives. Once again, the Sales Enablers and Campaign Producers gained
traction and momentum compared to the Value Creators for setting performance targets, when comparing the
current year’s MPM study (Figure 24) to the findings from the 2015 study (Figure 25).
Figure 24: The percentage of marketers who set quantifiable performance targets for many, but not all, increased
compared to 2015 for all MPM personas.
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Marketing
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In 2015, Best-in-class marketers, the Value Creators, were far ahead of the pack for establishing quantifiable
performance targets for most of their programs and objectives!
35%!
Nearly all! 10%!
8%!
34%!
Many, but not all! 33%!
19%!
15%!
Few! 40%!
43%!
8%!
Not usually set! 17%!
25%!
8%!
I don't know! 0%!
5%!
Figure 25: Programs with quantifiable performance targets by persona for 2015.
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Marketing
Performance
Discovering Insights Management
Study 2016
The foundation of MPM is the measurement of true performance indicators. Marketing has always had the
ability to measure things, but not everything it can measure has meaning, and often the data for the most
meaningful things to measure is elusive. Persistence in measuring what really matters to the business is
characteristic of best-in-class marketers. It is the first link in the MPM chain that leads to improvement, results
and credibility. Value Creators have greater mastery of selecting metrics that measure marketing’s value
(Figure 26).
Marketing has mastered selecting metrics that measure its value !
7.1
“Value Creators”
6.4
“Sales Enablers”
4.6
“Campaign Producers”
Figure 26: The value metrics selection gap. 1 = No mastery; 10 = Complete mastery.
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Marketing
Performance
Discovering Insights Management
Study 2016
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Use Your Marketing
DASHBOARD
Marketing
Performance
Discovering Insights Management
Study 2016
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Marketing
Performance
Discovering Insights Management
Study 2016
Metrics inform decision-making and influence action when they are expressed through a dashboard.
Dashboards are communications, management and accountability tools, and therefore are a crucial part of the
MPM landscape. The Value Creators returned to 2013 level. Dashboard usage for this group had been
flat since 2013. Dashboard usage saw strong adoption by the two segments that most need to use
them: Campaign Producers and Sales Enablers.
Figure 27: Sales Enablers now rival Value Creators in dashboard usage.
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Marketing
Performance
Discovering Insights Management
Study 2016
It is possible that the dashboard capabilities built in to many of the software tools now in common use by
marketers are a reason for this adoption surge. In fact, this current year’s MPM study examined the type of
dashboard functionality in use, and those results are presented in Figure 30.
Dashboards enable monitoring, analysis and communication of several critical MPM activities, and Figures
28-29 presents heat maps from this year and the 2015 studies of proficiency in using dashboards for the
activities listed.
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Performance
Discovering Insights Management
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In 2015, Value Creators were best at leveraging dashboards to achieve specific objectives.
Figure 28: How well each persona uses a dashboard for various capabilities in 2015.
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Marketing
Performance
Discovering Insights Management
Study 2016
The Value Creators held onto their strength at leveraging dashboards to achieve specific objectives in 2016.
Sales Enablers pushed their efforts forward especially in using dashboards for three key areas:
alignment to outcomes, performance analysis, and enabling C-Suite decisions.!
Figure 29: How well each persona uses a dashboard for various capabilities in 2016.
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Marketing
Performance
Discovering Insights Management
Study 2016
The use of a dashboard correlates to several important variables in this study. Table 2 highlights some of the
important MPM areas in which dashboard usage predicts better outcomes. Marketers that view a
dashboard as a “forced march” – something they must do but which has little value – miss the point entirely.
When dashboards are in use, they create accountability and collaboration that result in better MPM
outcomes, and not just marginally but in significant way.
Dashboard
Performance Category Dashboard in use
not in use
Percent reporting improvement in Marketing’s ability to measure & report its 2015 2016 2015 2016
contribution to the business: 57% 69% 49% 33%
How well marketing metrics measure things that link marketing’s results to
6.3 6.8 5.4 4.3
corporate business objectives where 10 = Extremely well:
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This discussion of dashboards concludes with a look at the types of dashboard that marketers are deploying
(Figure 30). Customized dashboards are the most common. A solid quarter of marketers, however,
produce dashboards through their CRM or Marketing Automation platforms. This data on dashboard type
usage reflects the nature of performance metrics: the ideal set of marketing performance metrics for each
organization is unique. While some overlap will exist, every organization should customize its MPM metrics
set and therefore its dashboard, and it is highly likely to require data from multiple sources to do so.
The Value Creators lead the pack when it comes to dashboard usage (Figure 27), but the usage of customized
dashboards using data from multiple sources is virtually tied for the three MPM study segments.
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Performance
Discovering Insights Management
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Invest in Skills
While MPM is a mind-set, it also entails a skill set. Value Creators earn the best “grade” (Figure 1) in part
because of skills: they have more mastery of the MPM discipline. Compared to Campaign Producers,
Value Creators are far more skilled at using data and analytics to improve effectiveness, align marketing
and select metrics that measure value (Table 3).
Using data to link marketing activity to business outcomes: 4.5 6.3 7.2
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It is even more insightful that “Improving marketing effectiveness with analytics insights” was the top-ranked
area of mastery for Value Creators, but sixth on the list for the other two segments. Achieving MPM excellence
begins with commitment, but without mastery of these skills, Marketers will never achieve their MPM quest.
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MANAGING
The Journey End-To-End
Marketing
Performance
Managing the Journey Management
Study 2016
Manage Data and Metrics Well
We all know that Marketing is deluged with data. One goal of this study was
to learn whether the Value Creators do anything differently in regards to
performance management, particularly in terms of their ability to create and
use the following:
1. Data Inventory which describes the format, location and source of
marketing and sales data, with how the data is accessed and updated.
2. Metrics Catalog which defines each metric tracked by marketing and the
exact algorithm used to calculate them.
3. Data Chains which illustrate the sequence and relationship of metrics that
form links between activity, output, operational and outcome metrics.
The study discovered that organizations that employ these three approaches
to performance management – Data Inventory, Metrics Catalog and Data
Chains – reach a level of MPM maturity that enables their marketing
performance management success.
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Marketing
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Managing the Journey Management
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Key Point: Add these three tools to your tool set – Data !
Inventory, Metrics Catalog and Data Chains – to achieve a
level of MPM maturity that helps ensure your marketing excellence. !
!
The use of any one or all of these data management approaches is
an excellent indicator of an organizations MPM capabilities.!
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Managing the Journey Management
Study 2016
The use of the three data and metrics tools correlates to many aspects of the MPM study survey. There is a
relationship between these tools and the marketing team’s grade (Figure 30): in the sample of survey
respondents using any of these tools, the percentage of Value Creators in that sample is almost half, twice the
average for the full survey sample. On the other hand, in the sample of survey respondents NOT using any
one of these approaches, the percentage of Value Creators in that sample falls to 14 percent or less.
Marketers who earn the top scores employ these tools more than their counterparts.
23%!
Data Inventory! No Data Metrics Catalog! No Metrics Data Chains! No Data Chains!
Inventory! Catalog!
Campaign Producers! Sales Enablers! Value Creators!
Figure 31: Use of these tools correlates to major differences in the grade.
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Marketing
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Study 2016
Some other interesting correlations between the use of these data and metrics tools and MPM performance are
summarized in Table 4. Data/Metrics Chains and business acumen are strongly related. All three of these
are highly connected to dashboard usage. All three are important to setting quantifiable performance targets.
well:
Confidence
Confidencemarketing knows which knows
marketing metrics/business
which outcomes the
metrics/business outcomes the CEO/CFO/BU 7.0 6.0 7.2 6.0 7.3 6.0
CEO/CFO/BU leaders care about where 10 = Extremely confident:
leaders care about where 10 = Extremely
7.0 6.0 7.2 6.0 7.3 6.0
confident:
Percent
Percent of marketing organizations
of marketing that set quantifiablethat
organizations performance
set
quantifiable performance targets for many or 83%
83% 33%
33% 90%
90% 37%
37% 91%
91% 40%
40%
targets for many or nearly all marketing programs:
nearly all marketing programs (Figure 24):
Percent of organizations where marketing
Percent of organizations where marketing serves as aoperates
model or
serves as a model or consistently as 48%
48% 15%
15% 48%
48% 17%
17% 54%
54% 18%
18%
consistently operates as
a CoE (Figure ):a CoE:
Table 4: MPM maturity is much higher when these data and metrics tools are in use.
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Focus on Marketing
OPERATIONS
Marketing
Performance
Managing the Journey Management
Study 2016
The Value Creators continue to lead in the use of marketing operations, however, this is another area in which
the Sales Enablers gained ground according to this most recent survey. Sales Enablers close their gap with
Value Creator by almost half (Figure 32).
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Marketing
Performance
Discovering Insights Management
Study 2016
The Value Creators continue to lead in the use of marketing operations, however, this is another area in which
the Sales Enablers gained ground according to this most recent survey. Sales Enablers close their gap with
Value Creators by almost half (Figure 32).
69%! 67%!
65%!
58%!
53%! 52%!
44%! 43%! 44%!
Figure 32: The presence of marketing operations has changed little over the past three years.
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Marketing
Performance
Managing the Journey Management
Study 2016
It’s not a question of having the Marketing Ops function, but of what it does or doesn’t do. Marketing
operations (Ops) has a broad set of responsibilities, but these are not embraced with equal frequency by all
personas. Figure 33 shows the gaps that are greater than 10 percent in marketing operations responsibilities
between Value Creators and the rest of the pack: Data Management, Strategic Planning, Customer/Market/
Competitive Intelligence, Benchmarking, Analytics and Modeling; and Workflow Processes. Regardless of their
lead, Value Creators have room for improvement.
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Marketing
Performance
Managing the Journey Management
Study 2016
Figure 34 shows the same data as Figure 33, but for the 2015 MPM study. Compared to the previous year,
Marketing Ops for the Sales Enablers gained momentum on a variety of MPM capabilities, but they lost
traction year-over-year on the data front. This year, the Marketing Ops for the Value Creators recharged their
efforts on the workflow processes. The Marketing Ops function lost ground for strategic planning for all
the personas.!
Figure 34: There are few bright spots in terms of year-to-year improvement.
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Marketing
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Study 2016
For reference purposes, here is a more detailed description of the Marketing Operations responsibilities
shown in Figures 33 and 34.
1. Data management: considers collection storage, hygiene, access and effective use of data.
2. Strategic planning: measures the extent to which marketing is intentional about determining a
direction aligned with corporate objectives, and then pursuing it.
3. Customer, market, competitive intelligence, research and insights: the gleaning of insights from
data for each of these areas.
4. Benchmarking: identifying marketing best practices and opportunities for improvement via comparison
to best-in-class marketing organizations.
5. Analytics & predictive modeling: marketing’s forecast of expected outcomes for things such as
predisposition to research, likelihood to defect, etc.
6. Workflow development & documentation: improving key marketing processes and then documenting
the process improvements to facilitate adoption.
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Marketing
Performance
Managing the Journey Management
Study 2016
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Marketing Center of
EXCELLENCE
Marketing
Performance
Managing the Journey Management
Study 2016
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Marketing
Performance
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In all of the MPM capabilities lay the foundation for marketing to serve as a
CoE. Organizations in pursuit of agility and excellence create and
implement CoEs.
A CoE provides the entire organization with visibility into quality and
performance parameters for the focus area.
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Marketing
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Managing the Journey Management
Study 2016
All three Marketing MPM personas made big gains this year in the C-Suite perception of marketing as a
Center of Excellence. Furthermore, the Value Creators improved by a higher percentage than the other
personas, based on the delta between each segment. The C-suite’s perception of Marketing is critical to
securing resources and funding. The view in Figure 35 of marketing as a CoE is probably more perception
than reality given the narrative this year’s study data is yielding. Regardless, the Value Creators definitely still
lead the pack.
60%!
Figure 35: The trend over the last three years for the leadership team’s perception that marketing exemplifies a
Center of Excellence.
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Marketing
Performance
Managing the Journey Management
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Marketing
Performance
Managing the Journey Management
Study 2016
Credibility
Taken all together, MPM capabilities facilitate marketing’s credibility within the organization. The credibility rating
correlates to a number of key variables in this study, first and foremost the grade. Value Creators enjoy the
highest credibility among all MPM personas. The pattern of the Value Creators losing ground while the Sales
Enablers and Campaign Producers gained ground also holds true with the credibility ratings (Figure 36).
8.1 7.8
6.7
6.0
5.2
4.5
Figure 36: Value Creators still lead the credibility rating, but not as much as last year. 10 = Highest Credibility
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Performance
Managing the Journey Management
Study 2016
How does a marketing organization increase its credibility rating? Upon analysis, three practices contribute
to Marketing’s perception of credibility: selecting the right metrics, setting quantifiable performance
targets, and operating as a CoE (Table 5). Table 5 provides a blueprint for what Marketing must do to enjoy
greater credibility. High credibility is not optional for marketers that wish to serve as influencers and
leaders. With credibility comes a seat at the big decisions table where corporate strategy is
determined. Marketers who wish to gain or keep their seat at this table must gain proficiency at MPM to
do so.
How well marketing metrics measure things that link marketing’s results to
5.5 7.5
corporate business objectives where 10 – Extremely well:
Confidence that marketing knows which metrics/business outcomes the CEO/
5.8 7.7
CFO/BU leaders care about where 10 = Extremely confident:
Percent of time marketing sets quantifiable performance targets for many or
50% 82%
nearly all programs & objectives:
Percent of marketing organizations that consistently operate as a CoE or
24% 50%
serves as a model for what constitutes a CoE:
Table 5: These correlations provide strong clues as to what causes marketing’s credibility rating to rise or fall.
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MOVING
Forward In Your Journey
Marketing
Performance
Moving Forward Management
Study 2016
Forging Ahead
Every marketing organization cannot be a Value Creator, but every marketing persona can aspire to make
progress toward better performance, contribution and results. Those who have already achieved this status
should understand from this year’s study that they must remain ever vigilant and that gains are lost simply by
standing still.
Key Point:
Alignment and
accountability
provide true north.!
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Marketing
Performance
Moving Forward Management
Study 2016
Leaders of the Pack took held their lead but took their eye off the ball and got complacent, costing
them hard earned ground. This study is a story about the Middle-of-the-Pack who surged their
progress forward.
Every study persona improved at the data part of MPM, but not at improving business results with
that data. Why? The study’s data suggests it is because they still don’t understand the business.
Marketers are busy measuring “stuff” and they have dashboards, but they’re not necessarily selecting
the right metrics.
Many of the metrics that marketing tracks are disconnected and disjointed.
Marketing operations exists for many organizations, but it is not doing the “right” things to help with
performance management and measurement.
There is much talk about being a CoE, but all the personas need to mobilize their transformative efforts.
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Marketing
Performance
Moving Forward Management
Study 2016
The actions that the marketing organization must take to make real progress with MPM include:
Know the business, not just marketing. With solid business acumen Marketing can more easily see
and take advantage of opportunities and manage potential pitfalls. Business acumen is an essential
skill for marketers who want to earn a reputation for being a Value Creator.
Best-in-class marketers excel at alignment and accountability. They know to align with business
outcomes that matter to the C-suite, and accordingly, they know what to measure. Value Creators
assure direct-line-of-site between marketing activities and business results. Marketing must derive
its work plan from business objectives and align its metrics accordingly.
Choosing the right measures is far more important than the quantity of data measured. Measuring the
right data, and acting on the results of the measurements, is essential for operating marketing as a
Center of Excellence (CoE). There are almost infinite numbers of measures and metrics marketers
can use today. It’s critical to select the right ones. Once this first step is complete, marketing can
form a metrics data chain; the sequence of metrics that forms the links between activity, output,
operational metrics, and outcome metrics.
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Marketing
Performance
Moving Forward Management
Study 2016
Improve dashboards by incorporating the metrics that reflect Marketing’s impact on and value to the
business. A good marketing dashboard facilitates decisions. If Marketing’s dashboard doesn’t enable
course adjustments, reveal what is and isn’t working, and communicate the value of marketing in
financial and strategic impact terms then it’s time for a dashboard makeover.
Make Marketing Ops more about doing things right AND doing right things. The Marketing Ops
function enables Marketing to leverage two key capabilities necessary for a CoE’s success: process
and technology. At its most fundamental level, a CoE is working to create world-class standards and
models that drive and achieve business results, encourage innovation, and leverage proven techniques
and methodologies. Typically the processes, systems, tools and skills necessary to link marketing to
business outcomes exist within the Marketing Ops function, who is responsible for tracking and
reporting results in order to improve and prove marketing’s value. In short, Marketing Ops helps run the
Marketing function as a fully accountable business by building the processes and managing the systems.
Revisit the characteristics of a CoE so that marketing can truly begin the transformation into one. Agility
and CoEs go hand-in-hand. Organizations that achieve agility excel at fostering and harnessing best
practices. They achieve performance excellence.
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Marketing
Performance
Moving Forward Management
Study 2016
Those marketers who have not yet embraced MPM may feel intimidated at the prospect of embarking on
the MPM journey. While all marketing organizations are unique and pursue different goals, the fundamental
principles of MPM remain constant for all Marketing organizations.
The major challenge all three of the personas face is using metrics and analytics to direct and connect
marketing activity to business outcomes. Marketing organizations that have the discipline and are willing to
travel the distance will make measurable gains in MPM, and acquire all the benefits of doing so.
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Marketing
Performance
About VisionEdge Marketing Management
Study 2016
Since our inception in 1999, our passion and purpose at VisionEdge Marketing has
been to bring science to the discipline of marketing and help our customers use data,
analytics, metrics, and processes to prove and improve the value of their marketing.
Our customers use our consulting services in the areas of marketing accountability,
measurement and analytics; outcome-based marketing metrics; actionable
dashboards; and processes, data, and systems to make smarter strategic market,
customer and product decisions.
To learn more about our services, capabilities and customers, please visit
www.visionedgemarketing.com.
TM
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Marketing
Performance
About Demand Metric Management
Study 2016
H i g h P e r f o r m a n c e M a r k e t i n g
DEMAND METRIC
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Appendix A:
Survey Methodology
Marketing
Appendix A:
Performance
Management
Survey Methodology Study 2016
This Marketing Performance Management Benchmarking survey was administered online during the period of
January 27, 201 through February 29, 2016. During this period, 438 responses were collected, 366 of which
were complete enough and qualified for inclusion in the analysis. The data was analyzed to identify insightful
relationships between variables in the study and to ensure the validity of the findings. The representativeness
of these results depends on the similarity of the sample to environments in which this survey data is used for
comparison or guidance.
Summarized below is the basic categorization data collected about respondents to enable filtering and
analysis of the data:
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Marketing
Appendix A:
Performance
Management
Survey Methodology Study 2016
Organization!
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Marketing
Appendix A:
Performance
Management
Survey Methodology Study 2016
Corporate
executive team,
16%! Business Unit leader/
P&L owner, 5%!
Marketing
Ops, 11%!
Product
marketing,
Field marketing, 10%!
3%! Inbound marketing/
telemarketing, 1%!
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Marketing
Appendix A:
Performance
Management
Survey Methodology Study 2016
Annual Revenue!
$5 billion to 9.9
$10
billion, 3%!
billion or
$1 billion to $4.9 more,
billion, 5%! 11%!
$500 million to
$999 million, 4%!
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Appendix B:
Survey Data Summary
Marketing
Appendix B:
Performance
Management
Survey Data Summary Study 2016
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Marketing
Appendix B:
Performance
Management
Survey Data Summary Study 2016
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Marketing
Appendix B:
Performance
Management
Survey Data Summary Study 2016
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Marketing
Appendix B:
Performance
Management
Survey Data Summary Study 2016
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Marketing
Appendix B:
Performance
Management
Survey Data Summary Study 2016
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Marketing
Appendix B:
Performance
Management
Survey Data Summary Study 2016
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Marketing
Appendix B:
Performance
Management
Survey Data Summary Study 2016
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Marketing
Appendix B:
Performance
Management
Survey Data Summary Study 2016
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Marketing
Appendix B:
Performance
Management
Survey Data Summary Study 2016
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Marketing
Appendix B:
Performance
Management
Survey Data Summary Study 2016
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Marketing
Appendix B:
Performance
Management
Survey Data Summary Study 2016
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Marketing
Appendix B:
Performance
Management
Survey Data Summary Study 2016
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Marketing
Appendix B:
Performance
Management
Survey Data Summary Study 2016
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Marketing
Appendix B:
Performance
Management
Survey Data Summary Study 2016
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Marketing
Appendix B:
Performance
Management
Survey Data Summary Study 2016
Activity metrics:
Do not track: 9% 22% 23%
We measure this: 54% 42% 44%
We use this data: 182 51% 39% 28%
We report this data: 54% 33% 25%
Reviewed by CEO/CFO: 26% 22% 14%
I don’t know: 7% 1% 5%
Brand metrics:
Do not track: 14% 30% 44%
We measure this: 58% 35% 32%
We use this data: 182 47% 34% 33%
We report this data: 49% 26% 18%
Reviewed by CEO/CFO: 33% 18% 7%
I don’t know: 7% 3% 2%
Customer metrics:
Do not track: 12% 18% 32%
We measure this: 58% 33% 42%
We use this data: 182 54% 39% 32%
We report this data: 54% 27% 18%
Reviewed by CEO/CFO: 35% 26% 12%
I don’t know: 2% 1% 2%
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Appendix B:
Performance
Management
Survey Data Summary Study 2016
Leading metrics:
Do not track: 26% 31% 58%
We measure this: 33% 20% 21%
We use this data: 182 33% 25% 18%
We report this data: 33% 21% 9%
Reviewed by CEO/CFO: 30% 10% 7%
I don’t know: 12% 13% 5%
Market metrics:
Do not track: 7% 30% 46%
We measure this: 65% 29% 30%
We use this data: 182 51% 35% 21%
We report this data: 49% 22% 12%
Reviewed by CEO/CFO: 37% 17% 9%
I don’t know: 2% 4% 5%
Marketing spend & cost-related
metrics metrics:
Do not track: 5% 9% 23%
We measure this: 61% 51% 51%
182
We use this data: 70% 39% 25%
We report this data: 51% 34% 21%
Reviewed by CEO/CFO: 40% 31% 18%
I don’t know: 2% 4% 5%
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Appendix B:
Performance
Management
Survey Data Summary Study 2016
Operational metrics:
Do not track: 7% 13% 37%
We measure this: 54% 43% 32%
We use this data: 182 63% 40% 21%
We report this data: 49% 28% 16%
Reviewed by CEO/CFO: 44% 23% 12%
I don’t know: 5% 7% 9%
Output metrics:
Do not track: 12% 8% 23%
We measure this: 58% 48% 51%
We use this data: 182 58% 48% 25%
We report this data: 56% 34% 32%
Reviewed by CEO/CFO: 28% 26% 11%
I don’t know: 5% 4% 4%
Outcome metrics:
Do not track: 9% 20% 39%
We measure this: 63% 34% 34%
We use this data: 181 54% 43% 23%
We report this data: 49% 34% 18%
Reviewed by CEO/CFO: 37% 25% 9%
I don’t know: 7% 5% 5%
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Appendix B:
Performance
Management
Survey Data Summary Study 2016
Pipeline metrics:
Do not track: 12% 18% 39%
We measure this: 58% 26% 29%
We use this data: 181 47% 43% 25%
We report this data: 49% 27% 23%
Reviewed by CEO/CFO: 37% 20% 11%
I don’t know: 5% 10% 5%
Predictive metrics:
Do not track: 30% 35% 61%
We measure this: 33% 16% 20%
We use this data: 181 40% 29% 23%
We report this data: 40% 12% 14%
Reviewed by CEO/CFO: 19% 14% 5%
I don’t know: 9% 14% 2%
Relationship metrics:
Do not track: 23% 35% 55%
We measure this: 40% 27% 20%
We use this data: 181 37% 30% 13%
We report this data: 30% 16% 13%
Reviewed by CEO/CFO: 26% 14% 7%
I don’t know: 7% 16% 5%
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Appendix B:
Performance
Management
Survey Data Summary Study 2016
Revenue metrics:
Do not track: 9% 20% 34%
We measure this: 61% 35% 36%
We use this data: 181 56% 44% 27%
We report this data: 44% 30% 18%
Reviewed by CEO/CFO: 35% 27% 16%
I don’t know: 5% 3% 4%
Sales Enablement metrics:
Do not track: 12% 21% 38%
We measure this: 51% 47% 36%
We use this data: 181 58% 42% 30%
We report this data: 44% 36% 20%
Reviewed by CEO/CFO: 42% 25% 13%
I don’t know: 2% 4% 4%
Social media metrics:
Do not track: 7% 12% 30%
We measure this: 67% 51% 39%
We use this data: 181 56% 49% 27%
We report this data: 42% 38% 29%
Reviewed by CEO/CFO: 28% 20% 11%
I don’t know: 5% 3% 4%
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Appendix B:
Performance
Management
Survey Data Summary Study 2016
Website metrics:
Do not track: 9% 9% 18%
We measure this: 61% 49% 48%
We use this data: 181 56% 55% 38%
We report this data: 44% 40% 30%
Reviewed by CEO/CFO: 28% 25% 14%
I don’t know: 5% 4% 2%
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Appendix B:
Performance
Management
Survey Data Summary Study 2016
Other 4 2% 2% 2%
I don’t know 7 7% 4% 2%
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Appendix B:
Performance
Management
Survey Data Summary Study 2016
Enable the C-suite to make business decisions 113 8.3 6.6 5.1
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Appendix B:
Performance
Management
Survey Data Summary Study 2016
I don’t know 5 2% 1% 2%
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Appendix B:
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Management
Survey Data Summary Study 2016
Campaign
Does your marketing organization Total
Value Creators (A’s) Sales Enablers (B’s) Producers
have the following? Responses
(C’s and below)
Data inventory:
Yes, fully implemented: 54% 16% 7%
Yes, part implemented: 28% 42% 35%
No; planning in 12 mos: 179 5% 16% 18%
No; planning > 12 mos.: 2% 6% 11%
No plans to implement: 9% 12% 29%
I don’t know: 2% 8% 0%
Metrics catalog:
Yes, fully implemented: 44% 12% 2%
Yes, part implemented: 28% 42% 20%
No; planning in 12 mos: 179 5% 21% 27%
No; planning > 12 mos.: 7% 3% 22%
No plans to implement: 11% 14% 27%
I don’t know: 5% 8% 2%
Data chains:
Yes, fully implemented: 33% 9% 4%
Yes, part implemented: 33% 34% 18%
No; planning in 12 mos: 179 16% 17% 24%
No; planning > 12 mos.: 2% 5% 16%
No plans to implement: 9% 19% 36%
I don’t know: 7% 16% 2%
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Appendix B:
Performance
Management
Survey Data Summary Study 2016
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Appendix B:
Performance
Management
Survey Data Summary Study 2016
I don’t know 4 0% 3% 2%
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Appendix B:
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Management
Survey Data Summary Study 2016
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Performance
Have a Question? Management
Study 2016
If you have a specific question about the findings in this report, please do not hesitate to reach out and ask.
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Marketing Performance Management Benchmark Study 2016
© 2016 VisionEdge Marketing, Inc. and Demand Metric Research Corporation. All Rights Reserved.!
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