The Syneka Marketing Governance Framework
Marketing has the unenviable reputation of being esoteric and immeasurable. The quote; half the money I spend on advertising is wasted; the trouble is I don’t know which half (attributed to Department Store owner John Wanamaker) is still prevalent, despite originating in the late 1800s.
The fact is that marketing, including offline and digital communications, can be measured if you embed a culture of Marketing Governance within your business or organisation.
This is why we have created the Syneka Marketing Governance Framework.
The five pillars of the Syneka Marketing Governance Framework
The Syneka Marketing Governance Framework includes five pillars that are essential to any market facing business or organisation:
Strategic Oversight – Marketing Governance ensures the necessary strategic oversight to align marketing activities with the goals of your business. This alignment ensures that marketing serves the direction of your business, strengthening profitability and ensuring consistency across all aspects of the marketing mix and customer experience.
Risk Assessment – Marketing Governance fully assesses risk, ensuring that your brand essence and corporate values, are mindful of stakeholder attitudes and reflected in your marketing activities. A failure to properly assess risk is a major contributor to the reputational and financial risk caused by failed campaigns.
Financial Accountability – Marketing Governance instils financial accountability, by fully accounting marketing for both expenses and the revenue it generates. Financial accountability is provided through marketing and campaign plans that identify resource requirements, financial metrics and is able to assess the anticipated return.
Personnel and Responsibilities – Marketing Governance provides the required clarity for marketing related roles and responsibilities. Marketing needs clear roles and responsibilities so it is responsive to internal, as well as external requirements. Importantly, marketing governance, separates strategic insights from execution, instilling the oversight that is required to properly assess marketing performance.
Accountability and Performance – Marketing Governance provides clarity through rigour and accountability, identifying the metrics that are required to properly assess marketing performance. Inputs are distinguished from outputs, to ensure that the customer journey and decision-making processes are sequenced and optimised to strengthen acquisition, loyalty and retention.
Importantly, Marketing Governance ensures that all levels of your business and organisation, beginning with the Board and CEO and through to operational staff, are clear on the role of marketing and the criteria for success.
Marketing Governance provides the framework for your business or organisation to truly become market facing.