Primary Driver: The organization’s growth is currently hindered by a lack of brand recognition and market penetration, despite having a product that meets the needs of the market. This results in lower sales volume and a slower rate of customer acquisition compared to what’s possible, considering we want to sustain our growth and market share in an industry with rapid innovation and high competition.
Main Requirement: We need to elevate the company’s brand profile and articulate the unique value proposition of our products to the target market, so that potential customers understand why our product is the right choice for them, leading to increased customer engagement and revenue.
Develop and implement a data-driven marketing strategy that targets customer segments more effectively, to increase market share. – Increasing competition and evolving customer preferences are currently leading to a loss of market share.
Manage the marketing budget efficiently, to maximize ROI across all campaigns.
Monitor and analyze market trends, to adjust marketing strategies proactively and maintain competitive advantage. The fast pace of change in consumer behavior and market dynamics is rendering current marketing strategies ineffective.
Execute and refine digital marketing campaigns, to improve engagement and reduce customer acquisition costs. – With digital ad spend increasing without proportional gains in engagement and acquisition, current strategies are leading to diminishing returns.
Foster brand partnerships and collaborations, to extend market reach and brand recognition.– As brand visibility plateaus, the company is experiencing stagnation in market growth.
Oversee the production of all marketing materials, to ensure brand consistency and message clarity across all media.
Cultivate a strong online presence through SEO and content marketing, to gain higher organic search rankings and increased web traffic.
Deliverable: Marketing collateral including product brochures, pitch decks, and case studies that equip the sales team with detailed, engaging sales materials to effectively communicate the value proposition to prospects and leads.
Deliverable: Regularly updated content such as blog posts, newsletters, and social media updates to keep the customer base informed about the latest company news, product developments, and industry insights, and attract potential customers.
Deliverable: Market research reports that provide insights into customer needs, preferences, and trends, to aid the product team in making data-driven decisions for product enhancements or new product creation.
Deliverable: Training materials and FAQs for new campaigns or product launches, that equip customer service representatives with up-to-date information, enabling them to effectively address customer inquiries and enhance overall customer satisfaction.
Deliverable: Marketing performance analytics reports that provide leadership with information about marketing campaign effectiveness, customer engagement, and ROI that they can use for budgeting and strategy development.
Deliverable: Co-branded marketing campaigns and promotional material that align with both organizations’ messaging, to maximize the reach and impact of joint marketing efforts.
Deliverable: Product information and updates, which are critical for creating accurate marketing materials and campaigns.
Requirement: Receive detailed product specifications and roadmaps to develop marketing strategies that align with product capabilities and release schedules.
Deliverable: Technical infrastructure support for hosting the company’s website, managing marketing databases, and ensuring cybersecurity for digital marketing operations.
Requirement: Ensure robust and secure IT systems to maintain the functionality and security of marketing channels and customer data.
Deliverable: Feedback and insights from customer interactions, providing first-hand customer experiences and expectations.
Requirement: Gather customer feedback to refine marketing messages and identify customer service improvement opportunities.
Deliverable: Sales data and customer feedback on marketing leads and their conversion rates.
Requirement: Share detailed sales results to inform marketing effectiveness and direction for future campaigns.
Deliverable: Strategic direction and decision-making that guide overall business and marketing strategy alignment.
Requirement: Provide clear strategic directives to ensure marketing efforts support overarching business goals.
Deliverable: Budget allocations and financial reporting systems that marketing needs for budget management and campaign funding.
Requirement: Allocate marketing budgets to plan and execute campaigns effectively without overspending.
Deliverable: Legal advice and approval for marketing content to ensure compliance with advertising laws and regulations.
Requirement: Legal vetting of marketing materials to avoid regulatory breaches and protect brand reputation.
Adhere to brand guidelines🔗 and messaging for all marketing materials, to maintain a consistent brand image and avoid customer confusion.
Obtain approval for campaigns exceeding the allocated budget from Finance🔗, to avoid overspending. – With a finite marketing budget, overspending on one campaign could limit the resources available for other critical marketing activities throughout the fiscal year.
Compliance with advertising standards and regulations, to prevent legal issues and uphold the company’s reputation for integrity. – The marketing industry is regulated to protect consumers and ensure fair competition, making compliance a non-negotiable aspect of marketing operations.
Coordinate campaign launches with product release schedules, to ensure alignment with overall product strategy and availability. – Misalignment between product availability and marketing campaigns can lead to customer dissatisfaction and lost sales opportunities.
Follow data protection laws and guidelines in customer data handling, to safeguard customer privacy and company compliance with global data protection regulations.
Prioritize marketing initiatives that support strategic organizational goals, to ensure that marketing efforts contribute to the overarching objectives of the company.
Report on marketing metrics quarterly to the executive team, to provide insight into marketing performance and justify budget use. – Executive stakeholders require regular updates to monitor departmental performance and to make informed decisions on future marketing investments.
Time allocation for delegatees: full-time (40 hrs per week), with approval for overtime during product launches.
Provide clear strategic direction and priorities to guide the marketing department’s focus and ensure alignment with the company’s business objectives. - The company operates in a dynamic industry where priorities shift rapidly, which sometimes leads to misalignment of efforts and inefficient resource utilization.
Be responsive: Maintain open channels of communication for feedback and escalation to resolve issues swiftly and keep marketing initiatives on track. – Delays in decision-making stall marketing projects, and result in missed deadlines and lost opportunities.
Support professional development and training to ensure the marketing team’s skills and knowledge remain cutting-edge.– The marketing field is continually evolving, leading to skill gaps and falling behind industry standards without ongoing training.
Review significant changes to marketing strategy or campaign tactics to maintain strategic coherence and mitigate risk.
Ensure the marketing department is kept informed about relevant market and organizational developments to facilitate proactive and informed marketing decisions.
Description:The cost associated with acquiring a new customer, calculated by dividing the total marketing expenses by the number of new customers acquired in that period.
Marketing Analyst calculates CAC quarterly (as soon as customer numbers for previous quarters are available) and reports results to Marketing Manager.
The Marketing Team adjusts marketing strategies if CAC exceeds industry average by 15% or more.
Purpose: Monitor spending efficiency to ensure the company is not overspending on acquiring new customers.
Description: The return on marketing investment, measured by the revenue generated from marketing activities divided by the cost of those activities.
Track MROI for each campaign, and quarterly for overall performance
Marketing Manager reviews MROI as it becomes available, and report to the executive team
Threshold: Investigate and strategize if MROI falls below the set company benchmark by 10%.
Purpose: Assess the profitability of marketing campaigns to validate and improve marketing spend decisions.
Description: The percentage of leads that become paying customers, indicating the effectiveness of marketing strategies in driving sales.
Rate and Responsibilities: Sales and Marketing teams to track and analyze jointly, monthly.
Threshold: Enhance targeting and customer journey tactics if conversion rate drops below the monthly target by 5%.
Purpose: Optimize marketing funnel efficiency to increase the rate at which prospects are converted into customers.
Description: Measure customer satisfaction on a 5-point scale, calculate CSAT as the sum of all positive responses, divided by the total responses collected, then multiplied by 100.
Rates and Responsibilities:
Threshold: Initiate customer experience improvement initiative if CSAT is below 85 for two consecutive months.
Purpose: Ensure product and service quality meets customer expectations to maintain a positive brand reputation and customer loyalty.
Calculate Brand Engagement rate per platform as reported by Hootsuite.
Rates and Responsibilities:
Threshold: Adjust content strategy if engagement on any platform decreases by 15% from one week to the next.
Purpose: Build a strong online community and brand loyalty.
Increase in brand awareness measured by surveys, web traffic analytics, social mentions, and media exposure.
Rates and Responsibilities: Marketing Team defines metrics sets up tracking and monitors Brand Awareness Growth bi-weekly
Threshold: Re-evaluate brand strategy if growth is below industry benchmarks or company goals.
Purpose: Expand market presence and brand recognition to support long-term sales and marketing objectives.
Measure performance of social media posts and email campaigns in Hootsuite and Mailchimp.
Rates and Responsibilities:
Threshold: Review and adjust marketing strategy if performance metrics are below the industry average.
Purpose: Improve quality of content and refine campaign strategy.
Criteria for evaluation during these activities should also include the assessment of:
The results of these evaluations should be documented and stored in an accessible format, allowing for tracking of progress over time and providing a clear record for decision-making regarding changes in strategy or domain design. Additionally, evaluations should be flexible to include any ad-hoc reviews triggered by significant market events or internal organizational changes.