SBI’s recent research report entitled How to Increase Marketing’s Contribution to 2015 Revenue was, as always, an interesting read. SBI’s research indicated that the majority of marketing teams are failing to make an acceptable level of contribution to their company’s revenue and the report covered some key areas where marketers are failing. I thought it would be interesting to talk about those areas, and offer ideas on how to fix that.
The report estimated that as many as 71% of marketers were falling short of their revenue targets by adopting the wrong marketing strategies. The report identified six key areas in which failing marketers were commonly missing the mark and six steps needed to get back on track.
Lets take a look at the common reasons for failure, starting with the most obvious obstacle:
- No marketing strategy at all. More than a quarter (26%) of marketers reported having no clear strategy at all, or at least none that they could articulate. They reported that while they might enjoy the occasional success, essentially they’re relying on luck more than anything else. I find this is the case all the time. Clients (and just as many enterprise level ones as small to midsize ones) often don’t want to pay for strategy–they want to pay for tactics, without any kind of a strategy in place. As you might imagine, just the thought makes me a little twitchy.