If you clicked into this article, our guess is that you might be expecting a few “quick wins” to help make sure that your marketing strategy and tactics are performing the best that they can. We have good news and bad news for you.
Bad News: this isn’t that type of article (we love them and even have a few of them ourselves).
Good News: this blog is actually about the business of your marketing. Keep reading, we promise it’s worth it!
Every single marketer has at least one day in their job where they have no idea what they’re doing. The blog isn’t being read, the CTAs are not being clicked, the ad is somehow converting in the negative (okay, not really, but you know what we mean).
It’s a tough profession - we are expected to make magic happen and are ultimately responsible for proving that our marketing spend is worth the cost.
In this blog, we want to share 3 signs that you’re approaching marketing wrong and how those approaches are making your life even harder. And, of course, we tell you how to begin to correct them - what kind of resource hub would we be if we didn’t provide helpful resources?
3 Signs You’re Doing Marketing Wrong
1. You’re Not Invited to the Summit
Every company has a summit. Maybe yours is called something different:
- Leadership Retreat
- All Company Meeting
- Yearly Quarterly Meeting Group Session
- Company Summit
Whatever it is called, your company has a plan and system for the leadership and departments to come together, usually annually, to discuss the State of Affairs for your company.
Traditionally invited are representations from each company that has a major stake and ownership in the overall health of your business. You can expect the full executive suite to be in attendance, the heads of sales, services, operation, finance, etc.
Sometimes, marketing gets invited.
Many times, marketing does not.
Inside of getting a full-day, all-access pass, marketing is invited for an hour, maybe two, asked to present, answers some questions and then leaves.
If this is happening to you: you’re doing marketing wrong.
The level of visibility and input that your team is offered in the Big Company Meetings is a direct reflection of the amount of visibility and input your leadership has into the value your department provides them.
While we do believe that marketers should do what we do best, which is... marketing, we also believe that marketing should encompass more than just ads and graph charts.
You, as a marketer, have the ability to access some of the most critical business intelligence data your company has. Your role of marketer SHOULD be to make ads and pie charts but to also collect and interrupt BI data in a way that benefits your entire company. We speak more on aligning marketing and the finance-friendlies in this post.
And sadly, if you're not invited to the summit, the disrespect goes a little further.
2. You’re Seen As a Cost-Center
We won’t dive too deep into this topic, we actually wrote an entire separate article about this, but it is critical to discuss.
If during those Big Company Meetings your leadership team collectively views your department as a cost center vs. a profit center - something, somewhere, is broken.
Now, we could make strong arguments for either side on who should change, do better, etc. but this blog is about YOU. How can you make this situation better?
It comes down to a mix of traditional business and lack of reason to believe that marketing should be approached any differently.
If you’ve determined that your department is on the wrong side of the profit/cost discussion - take ownership in correcting that!
3. You’re Unable to Report on Marketing Attributed Revenue
The last sign that something is drastically wrong in your approach to marketing is whether or not you’re able to report revenue generated by your marketing efforts.
To be fair, not all of this can be on your shoulders. Depending on the type of technology platforms you have to work with and whether or not they natively integrate or have an API, reporting on this could be a huge challenge.
But, it’s a challenge worth tackling. Reporting on more than just traffic is what gets puts drives another level of value for your department.
Closed-Loop Reporting is the approach to reporting that heavily focuses on tracking the entire buying process from awareness to close won/lose and repeat engagements. Creating a CLR for yourself and sharing with your leadership will accomplish two things:
- Provide incredible insight into where things are working and where they are not in your customer acquisition process
- Give you a conversation started with each of your main departments (services, sales, etc.)
We know that automation is king and the more we can make happen without manual work is great - but even if you need a good ol’ spreadsheet and an hour of pulling data, being able to measure and share where marketing is actually supporting revenue growth will be the single greatest thing you can do for your career. This is a skill that will take you further than any single landing page best practice.
Not sure where to get started on creating a Closed Loop Report? Check out our guide on Math for Marketers. We walk through the basic business math that you should be reporting on (and what not to report on) to your leadership!