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 Kickstart Your Marketing ROI —
Part One
By Craig O'Neal
Editor's note: this article is the first in a two-part series that outlines a systematic, easily justifiable approach to marketing ROI. In this issue, Craig O'Neal covers the first two steps that can help any business-to-business company take a more disciplined approach to its marketing efforts.
It's been said many times that marketing is both an art and a science, but unfortunately for most firms, it's more art than science. No wonder marketing departments have trouble defending their budgets each year, especially during challenging times! It becomes difficult to justify large expenditures for "increased awareness" or "better positioning."
Even when the numbers turn around, how can the marketing department take credit for its share of the success? In an era of increased accountability and expectations, marketing departments must find a way to show an ROI on their marketing initiatives.
We have found with our clients that it all begins with a change in mindset – a mindset that believes marketing can and should be treated as more of a science that directly impacts sales and shows an acceptable ROI in the process. Most sales departments of b-to-b companies are always looking for "hot leads" that can be converted to customers in a rather short period of time. This is exactly where marketing can take an increasingly important role in providing the sales force with solid, highly qualified leads.
Certainly, marketing must never stray from its leadership role in strategically positioning the company and communicating the brand. But now, more than ever, marketing must also take a pragmatic role in creating demand and generating qualified leads for increased sales – and today's clients are insisting on it. This can happen only through a systematic ongoing direct marketing process. There are five key elements that nearly every b-to-b company should employ in its direct marketing process. We'll look at the first two in this issue.
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 Market Like You Mean It
During the recent Direct Marketing Association's Business-to-Business national conference in Orlando, I had the opportunity to attend different workshops and seminars about the latest and greatest in the field of direct marketing. I also had the opportunity to discuss with colleagues the different ways marketing plays a significant role in acquiring, growing and retaining customers.
Overall, I was reminded that effective marketing doesn't just happen in a vacuum, but rather is the result of real intentionality and a rigorous, disciplined approach. Only then can we expect marketing to make the impact needed in an increasingly competitive marketplace.
Over the last 12 to 18 months, companies have focused on wringing out operational inefficiencies and are now turning to top-line growth to achieve more bottom-line profitability. Yet 56 percent of companies in a recent survey admitted that they don't have a formal process to implement and measure customer acquisition and retention.
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Show and Sell: How Zoom Pays Off
Where Business Prospects Go to Research Purchases
Are Sales and Marketing on the Same Page?
VantagePoint Offers Lead Generation Workshops May 24th & 25th
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Click here for a success story of a lead generation initiative that VantagePoint executed on behalf of one of its clients.
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