Marketplace uncertainty has expanded the role of marketing in many businesses. Marketers are now often co-architects of resilience strategy, enabling business growth amidst marketplace headwinds while helping organizations minimize costs. Yet resilience can be costly. It requires a well-equipped team capable of leveraging technology and data to create high-performance strategy. It necessitates ready access to advanced analytics, allowing marketers to draw insights from raw data and quickly adjust front-office strategy in response. In addition, marketers must craft user experiences that accommodate evolving consumer preferences while ensuring that day-to-day decisions are in sync with current revenue imperatives. Lastly, marketing teams must also ensure that MarTech and other sales enablement tools are performing with optimal efficiency and that when new technologies are adopted, they provide tangible and long-lasting benefits that drive revenue.
With marketing budgets at an all-time high and the importance of marketing increasing in more than half of all companies during the pandemic1, it is critical for marketers to understand how to optimize their investments when facing these challenges. There are three critical components to optimize marketing’s impact in an organization:
- Evaluate how marketing’s role is expanding
- Assess the effectiveness of the MarTech stack
- Align the operating model to support marketing’s new roles and technology