Category

Marketing Operations

NVISION Insights and Innovation Team
In CMO, Marketing ROI, Marketing Performance Measurement, Marketing Operations, Accountability

3 Marketing Tips to Deliver ROI Accountability

a hand with pencil on a calculator - ROI

For marketing teams everywhere, the name of the game is ROI. From budget to revenue to cost reduction, no figure reflects a CMO’s performance in the eyes of the C-Suite more than the return on investment. The best organizations don’t leave ROI to chance. In fact, they plan for it by building ROI accountability directly into their marketing plans. That’s according to Amy Gallo at Harvard Business Review, who explains that with discipline and foresight, marketing teams can give their ROI accountability a head start for the coming quarters.

Here are the top three tips for ROI accountability in marketing.

account-management-professional presenting in the meeting

Create a Single Point of Truth for Marketing Inventory and Resources

Taking stock of the assets, inventory, and resources at your disposal is a critical first step towards ROI accountability. Especially in larger organizations, this can be a challenge. With multiple vendors, distributors, delivery timelines, invoices, warehouses, and more, just getting a clear understanding of what’s at your fingertips can give even the bravest CMO pause.

Gallo goes further, explaining that for many organizations, it simply makes more sense to outsource this business process to an expert. “Recognize areas where it may be more cost effective to partner with an agency rather than trying to bootstrap a solution on your own,” she says. Think of this exercise as a sort of audit for your marketing procurement process. If you can’t see and understand every link in the supply chain, you simply cannot identify areas prime for optimization and cost reduction.

Build a Marketing Schedule That Sticks

Time can make fools of us all, but it doesn’t have to for your marketing organization. That’s why it’s so important to plan, establish, and stick to a schedule. Your team should do this upfront, before solidifying your strategy for the quarter.

“Set clear milestones and deadlines for each [asset]… We recommend scheduling team check-ins in advance around deadlines for key deliverables,” Gallo explains. Not only do these check-ins keep everyone accountable, but they help ensure that every member of your team knows what is expected of them and when, and gives them proactive opportunities to push back against unattainable deadlines.

But anyone can make a schedule. Sticking to it is the real key. In modern marketing, customer demands shift nearly every week. The ability to adhere to strict timelines helps guarantee that your marketing operations remain flexible, on-message, and poised to capitalize in a timely manner on any new development or opportunity. As noted above, business process outsourcing (BPO) for the procurement of physical marketing materials can help build this schedule. With experience and best practices around timelines and delivery, a trusted partner can provide both realistic deadlines and baked-in reporting, so visibility and accountability remain top priorities for your organization.

marketing management

Focus on Your Marketing Activities that Matter

This is another area where BPO can be hugely beneficial. Outsourcing generally provides higher ROI by applying expert talent, best practices, and buying power to your marketing operations, not only improving the effectiveness of your marketing materials, but also significantly lowering the costs of each procurement.

The C-Suite wants to see the bottom line. “Connect your marketing activities to ROI by tracking the path from strategy to tactic,” Gallo says. “Show how each step helps build a program that leads to a shared business goal.” Looping in a trusted partner can secure that bottom line, take unnecessary work off your already-full plate, and help ensure that marketing hits every one of the targets it outlines. With the support of the leadership team, marketing is free to aggressively pursue every opportunity.

Smart marketing teams always build ROI accountability directly into their marketing plans. By partnering with NVISION to optimize your marketing procurement and operations, you can stick to the plan.

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Why NVISION?

For more than three decades we’ve partnered with Fortune 500 companies to deliver marketing operations solutions. Led by a strategic account management team, we’ll help you develop, procure, fulfill and distribute printed collateral, signage, point-of-purchase displays, direct mail, branded merchandise and much more.

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NVISION Insights and Innovation Team
In Marketing ROI, Marketing Supply Chain, Marketing Operations, Accountability, Procurement

How Marketing and Procurement Can Work Together to Improve Revenue

There is no responsibility more important to marketing leaders than driving revenue. This can be done in two primary ways: growing existing revenue streams by acquiring new customers and improving customer retention, or by improving profit margins by effectively limiting costs. Nearly all marketers are focused on the former: “How do I win and retain more business?” But as Jon Smith of Marketing Week explains, there is another, even smarter way.

Procurement has a major role to play in managing revenue and marketing costs. So, how can marketing and procurement work together to improve revenue? We’re glad you asked!

people in the meeting room

Strategic Alignment for Procurement and Marketing

The name of the game for marketers today is accountability. Whether it’s in the form of revenue attribution, ROI, or highly granular cost analysis, new technology has made KPIs an even bigger part of marketers’ lives than ever before. As Worldwide Business Research Digital reports, “marketing teams are being held increasingly accountable for ROI.” Of course, for procurement teams, this level of accountability is nothing new. Cost reduction, optimization, and business process outsourcing (BPO) have been their primary job roles forever. Which is why aligning the goals of your marketing and procurement teams is so important.

Thanks to BPO, procurement can offer powerful solutions to marketing’s biggest problems. Solutions around time-to-market, brand control, cost reduction, and responsiveness are all under the purview of procurement but matter immensely to marketing as well. That’s likely why, according to WBR Digital, 51% of companies rely on BPO for marketing execution, especially around print production. By recognizing this natural synergy, and formalizing the alignment of their goals, procurement can help marketing departments do more with less.

Why BPO for Marketing Procurement?

Optimization can only follow where visibility exists. That’s why your marketing and/or procurement teams should always be looking for opportunities to achieve greater efficiency, optimization, and cost reduction through BPO. This visibility opens the door to more profitable outcomes. With reliable, granular information about marketing costs, delivery timelines, and critical areas to improve these figures, marketing can not only make more accurate predictions and plan for success, but can better understand – and subsequently optimize – how they maintain brand control, guarantee quality, and keep production velocity running smoothly.

As Smith says, it’s a “win-win” for marketing. With BPO carried out by marketing execution experts, your marketing team can focus on improving their customer experience and sales results, and leave the optimization to trusted partners.

meeting in the conference room

Marketing Execution and Print Procurement

According to WBR Digital, the majority of businesses already agree that they reap greater benefits from managing their print procurement externally. 58% of those surveyed believe that their supply chain and marketing execution partners do a better, more efficient, cost-effective job with print procurement for marketing materials. In fact, they identified the top 4 reasons why they prefer to outsource their print procurement to partners:

  1. Cost Reduction
  2. Improved time-to-market versus competition
  3. Better ROI
  4. Stronger brand and quality control

These are powerful benefits to marketers, made possible by outsourcing their print procurement.

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Procurement has a major role to play in managing revenue and marketing costs. By outsourcing it to a trusted partner, your business can enjoy the benefits of greater visibility, optimization, and success. Whether your marketing department measures success by ROI, cost reduction, or overall revenue, understanding the value of aligning your marketing and procurement goals, and the insights BPO can deliver, is a sure-fire way to increase your odds of hitting your annual goals.

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Why NVISION?

For more than three decades we’ve partnered with Fortune 500 companies to deliver marketing operations solutions. Led by a strategic account management team, we’ll help you develop, procure, fulfill and distribute printed collateral, signage, point-of-purchase displays, direct mail, branded merchandise and much more.

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NVISION Insights and Innovation Team
In CMO, Marketing Trends, Marketing Operations

Top Emerging Challenges Facing CMOs in 2018

Man pointing finger on the marketing materials on the desk in the meeting

As Summer 2018 approaches and brands are preparing to make their marketing pushes to capitalize on the summer spending season, it’s not just sunscreen and cook-outs on the minds of marketers. That’s according to Emily Cross at the World Advertising Research Center (WARC), who explains that there are five (5) main areas where CMOs are facing new challenges, exactly what potential dangers those challenges pose, and how savvy marketers can overcome them. So let’s take a look at some of the challenges CMOs are facing in 2018, and how smart brands are dealing with them.

Digital Transparency: the Real Numbers

Digital is the hot word on the lips of CMOs right now. Omnichannel expansion and the Internet of Things are revolutionizing how marketers target and reach their audiences. But there are some pitfalls with digital as well. Namely, that ROI and revenue can be much more difficult to attribute with digital versus print. That’s why WARC says that most brands cite “digital measurement” and transparency as the number one issue in their marketing plans. In fact, 30% of those polled expect to cut their digital spend in 2018 if these issues aren’t alleviated.

So, how can smart CMOs protect themselves and their brands?

  • Take proactive steps to minimize risk
  • Prioritize ad visibility over duration
  • Explore more traditional channels

Customer Experience: Superior and Competitive

In increasingly crowded marketplaces, more and more brands are setting themselves apart by delivering a superior, highly personalized customer experience. And the reasons are obvious. Modern consumers will actually give preference to brands that offer them personalized experiences. In fact, 80% of consumers state they are more likely to engage with a brand if it offers personalized customer experiences, and customers will shop 3x as frequently if it provides experiences personalized to them. That’s why, according to WARC, 53% of brands will prioritize CX in their marketing strategy for 2018.

So, how can CMOs position themselves to compete – and win – on the customer experience?

  • Understand CX is a whole customer journey, not one touchpoint
  • Structure teams, operations, and supply chains to execute
  • Use data intelligently to create a full view of the customer
brand idea poster - onsite services

Defining Your Brand Purpose

Everyone is searching for a purpose in life. But according to WARC, many brands are, too. As the lines between politics, world events, and marketing continue to blur thanks in part to social media, many CMOs are seeing purpose-driven advertisements as a powerful way to associate their brand with issues that matter to their customers, winning their loyalty.

Which explains why WARC reports a 300% increase in purpose-driven ads from the top 100 global brands in the last five years. But when purpose-driven marketing misses the mark, its backlash can be loud and damaging. Authenticity is key.

So, how can CMOs leverage their brand purpose wisely?

  • Keep it rooted in your brand’s current, actual values
  • Support long-term brand building and customer loyalty
  • Respond rapidly to popular trends; don’t wait too long and miss them

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Why NVISION?

For more than three decades we’ve partnered with Fortune 500 companies to deliver marketing operations solutions. Led by a strategic account management team, we’ll help you develop, procure, fulfill and distribute printed collateral, signage, point-of-purchase displays, direct mail, branded merchandise and much more.

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NVISION Insights and Innovation Team
In Marketing Supply Chain, Marketing Operations

Five Tips for Choosing the Right Promotional Marketing Distributor

As competition continues to grow in every industry, it’s becoming more and more important for brands to be able to offer their customers and prospects a truly superior, personalized experience. That’s according to the Advertising Specialty Institute, who explains that to really impress your customers with promotional items, it’s absolutely critical to choose a distributor that offers the best service. Your distributor enables your business and their skill and service reflect upon your brand. That’s why ASI has identified five key qualities to look for in a partner.

Let’s take a look!

Low Prices

At the end of the day, nothing talks like money. And whether that’s costs, ROI, or revenue, it’s important to choose a distributor that offers highly competitive pricing for the production and delivery of promotional items. “Rather than slash your profit margins for the sake of winning a sale,” ASI explains, brands should work with a partner to secure affordable, consistent costs from the very beginning. That way, you’ll protect your margins, you’ll be able to save your customers money, and you’ll be able to capitalize on every promotional opportunity without breaking your budget.

Responsiveness and Flexibility

Customer demands are changing faster than ever, and it’s critical to work with a distributor who can respond with speed, agility, and flexibility. Whether you want to capitalize on a rapidly developing promotion (one centered around an event, for example) or just seize the latest trend while it’s still hot (fidget spinners, anyone?), your partner should specialize in fast turnarounds, quick changes, and ultra-responsiveness via a highly optimized supply chain. Don’t just meet your deadlines; exceed them.

man and woman looking at print samples

Attention to Quality

Promotional products may be inexpensive, but that doesn’t mean they can be low-quality. When you place your brand’s name and logo on a promotional giveaway, that product continues to represent your company in the mind of the recipient for weeks and months to come. Each time they use that bottle opener or thumb drive or shopping bag, they will think of you. If that product is low-quality or falls apart…well, that’s the level of quality they’ll associate with your brand.

It’s critically important to partner with a distributor who not only has a proven track-record of delivering high-quality products, but who maintains strict quality control practices as part of their workflow.

Past Reputation

It’s always wise to check any potential distributor’s previous history with customers. In this case, you want to choose one with a very high customer satisfaction rate and with plenty of positive testimonials. If a potential partner comes highly recommended, it generally means that previous customers have been happy with their services and products. Recommendations and testimonials are the ultimate receipt of satisfaction, so steer clear of anyone that can’t demonstrate a long list of happy customers.

Exceptional Customer Service

Customer service is now a core competency for any business worth its salt, and your promotional marketing partner should be no exception. The distributor of your choice should be quick to respond to inquiries and concerns, and should provide you with realistic, accurate timelines for things like production, delivery, and if necessary, returns. Your partner should value your business, because your business is their business. Don’t settle for anything less.

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Why NVISION?

For more than three decades we’ve partnered with Fortune 500 companies to deliver marketing operations solutions. Led by a strategic account management team, we’ll help you develop, procure, fulfill and distribute printed collateral, signage, point-of-purchase displays, direct mail, branded merchandise and much more.

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NVISION Insights and Innovation Team
In Building Products, Marketing Performance Measurement, Marketing Operations, Marketing Strategy

Disruption in Building Materials Marketing: A Guide for CMOs

“Disruption” is a hot word right now in marketing. It calls to mind the Ubers, PayPals, and Yelps of the world. Disruption can mean huge profits and slashed costs for companies that pull it off successfully, and a place in the pantheon of revered brands.

But for CMOs, who must try to navigate through this ever-changing sea of disruptions in consumer behaviors, business environments, and new technologies, handling this task, and identifying which opportunities to capitalize on, can be a challenge. That’s why Navigate-the-Channel offers these helpful tips for coming out on top to CMOs riding the wave of disruption.

Explore and Understand New Technology

It wasn’t even five years ago that virtual reality, machine learning, A.I., and the Internet of Things were all pipe dreams. Now, they’re household concepts, and marketers are integrating them into their strategies.

Take Marriott Hotels, for example. It uses VR headsets to allow vacation shoppers to virtually “explore” some of its flagship properties in places like London, Hawaii, and, Thailand, telling its hospitality story better than a pamphlet ever could. VR, and the ability to “walk through” structures has exciting applications for the building materials industry.

As NTC puts it, “these technologies should not be cultivated for their own sake,” but CMOs should seek to understand both their applications and their appeal to consumers.

businessman holding tablet

Use Data to Consider Customers Holistically

Big data has brought big changes to how marketers develop customer personas and ideal customer profiles. In the past, CMOs grouped large swaths of customers into similar “personas” and segmented their marketing efforts at that level.

Now, with the rise of “Big Data” and, more importantly, the machine learning power to analyze, process, and make sense of it, CMOs have an unprecedented opportunity to target their customers at an even more granular level.

As NTC explains, “In a small industry like building materials, everyone knows everyone else. Each person within a sales funnel must be considered fully,” and that includes considering their organization’s challenges, goals, budgets, geographic markets, and more. CMOs should explore investments in big data analysis that can help create these hyper-specific buyer profiles.

Real-Time Responsiveness and Connectivity

The Internet of Things is rapidly redefining traditional marketing “channels.” Now, refrigerators can recommend packaged foods to consumers, and windows can suggest more energy-efficient blinds.

CMOs should take a step back and consider how certain societal and consumer attitudes have already changed regarding styles, materials, and processes. “For instance, certain manufacturing processes that would have been industry standard within building materials might now be considered anti-environment and cause enough of a stir to hinder business,” explains NTC. The use of asbestos in insulation materials is one of the most famous examples.

Smart CMOs should take into consideration which aspects of their business may become the subject of consumer attention in the future, and they should prepare their marking supply chain and marketing operations to be agile and responsive to these changes as they arise.

Subscribe to the Blog

Why NVISION?

For more than three decades we’ve partnered with Fortune 500 companies to deliver marketing operations solutions. Led by a strategic account management team, we’ll help you develop, procure, fulfill and distribute printed collateral, signage, point-of-purchase displays, direct mail, branded merchandise and much more.

LEARN MORE