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implementation Archives - Syneka Marketing

Marketing Governance: Mitigating reputational and financial risks

By | Advice, Advice for Businesses, Advice for Not-for-profit Organisations and Charities, Government, News | No Comments

Good governance needs to underpin all aspects of a business or organisation and this holds true for marketing. Unfortunately, marketing governance tends to be substantially underdeveloped, with blurred responsibilities and a lack of sufficient oversight.

The most evident examples are seen in social media, where a lack of oversight and a failure to link execution with strategic direction, has resulted in significant public mistakes by businesses (including large businesses like Woolworths and McDonalds), as well as not-for-profit organisations (as evidenced through the failed YourTaxis campaign).

Marketing Governance defines the roles and responsibilities of the marketing function, by considering three core elements:

2016-02-29 Levels

  1. Level 1: Executive – Leadership and Direction – Marketing leadership and strategic direction needs to be established at an executive level. This is often the Chief Marketing Officer and the Executive Team, or a combination of the board and Executive Officer within not-for-profit organisations. The strategic marketing direction needs to be consistent with the organisation’s vision.  In particular, the entire marketing mix needs to be considered, to ensure that marketing has visibility and suitable influence across the organisation. Suitable structures should be developed to support the need for marketing to be integrated into other business areas.
  1. Level 2: Management – Accountability and Oversight – Management is accountable for delivering the strategies that will achieve the goals established through the marketing plan. Management should determine the appropriate activities and tactics (within budget and resource parameters) that will collectively achieve the identified direction. Management is responsible for oversight across these activities to ensure consistency and to evaluate results. Management should be empowered to not only measure marketing performance, but to adjust these activities if the expected outcomes are not being realised. As a result, management must be able to measure marketing performance and be fully aware of the customer journey and sequencing that is required to motivate action.
  1. Level 3: Implementation – Execution – Execution is where relevant marketing tactics are undertaken based on the decisions made by management. The execution layer can involve internal teams, external partners or a combined approach, but should always have a clear understanding of the outcomes required. It is imperative that execution activities are briefed correctly and that inputs and outputs are not mistaken for marketing outcomes. Management needs oversight over execution to ensure that outcomes are consistent and delivering anticipated results. Measuring marketing performance enables adjustments and to ensure that all execution elements are working as intended.

Marketing Governance is an area that is far too often overlooked, but is required to ensure the evaluation of marketing performance and to reduce reputational and financial risk.

Marketing, as a function, and organisations overall, need to develop capabilities in marketing governance so we can finally see an end to mistakes that never should have occurred in the first place, had oversight and direction been suitably established.

Embedding rigour into marketing – through our Performance Framework

By | Advice for Businesses | One Comment

It is easy to spend time and money on marketing, but a lot harder to ensure that your resources actually deliver a positive impact. As a result, marketing often becomes unaccountable, delivering tactics that generate activity, but underperform in regard to anticipated outcomes.

These issues are due to marketing being undertaken as distinct operational tasks, rather than a core strategic function that secures business growth. Consequently, marketing often lacks a presence at an executive or board room level, despite the reputational and financial risks created through a lack of strategic insight.

Overview of the Syneka Marketing Performance Methodology

Ultimately, marketing is designed to strengthen business capacity, yet this is often lacking within marketing itself.

The Syneka Marketing Performance Methodology is designed to embed rigour into marketing, through data analysis, strategic insights and evaluation. As a result, the Syneka Marketing Performance Methodology consists of four key modules that have defined methodologies:

  • The Audit – forms the foundations of all marketing projects, by reviewing existing activities and assessing performance.
  • The Forecast – assesses future market conditions, guiding the development of campaign plans and product innovations.
  • The Plan – aligns marketing outcomes with business goals, through implementation schedules that guide and measure marketing activities.
  • Execution – the delivery of marketing outcomes, as per the defined timeframes, with all activities being evaluated on the required outcomes.

Our services, encompassing consulting, workshops, training and management are aligned in accordance with our Framework to ensure transparency and accountability. For further information, view our Guide to the Syneka Marketing Performance Methodology .

A Strategic Approach to Measuring Marketing Performance

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What value does marketing deliver? This is the number one question any Chief Executive or Chief Financial Officer asks of marketing. Unfortunately, more often than not, the answer is not forthcoming.

This is why marketing is often the first department to be downsized during economic uncertainty, despite logic stating it should be one the of the last. Why is this? Ultimately, it is because marketing has failed to justify its own value.

This situation will not change while marketing follows an execution based approach, lurching between tactics; whether they be social media, content, events; or concepts, like the customer journey or customer experience, which have become so over utilised, they have been severed from any basis in marketing.

This situation is rife across all sizes of organisation; whether for-profit, not-for-profit or government, and yet the traditional approach is rinse and repeat, further eroding the credibility of marketing and its capacity to deliver value.

Since our formation in 2009 we have demonstrated the value that is created through a strategic approach, leading to recognition in the Australian Marketing Institute’s Awards for Marketing Excellence and our designation as Certified Practising Marketers.

Unfortunately, the word strategy has been hijacked by execution led agencies, who have tarnished the term for their own needs. This is despite the fact that the only strategy you will receive for example from a social media agency is social media. This does not provide a marketing strategy that integrates each element of marketing communications and the remaining marketing mix.

In 2016 we want to be able to stop saying we told you so, by preventing the litany of costly marketing mistakes that never should have occurred in the first place.

This is why we developed the Syneka Marketing Performance Methodology , which delivers an accountable and measurable marketing approach that is aligned with business goals. The Syneka Marketing Performance Methodology delivers continuous improvement within the marketing function and brings it back to its core definition of delivering value; the same way other business areas have been expected to strengthen outcomes and returns.

The Syneka Marketing Performance Methodology

The Syneka Marketing Performance Methodology commences with a Marketing Audit, which reviews existing activities through stakeholder consultation and internal analysis. The Marketing Audit defines the metrics required to measure marketing outcomes and establishes the foundations to deliver marketing performance.

The Marketing Forecast considers the external environment, identifying competitive pressures, customer demographics and market potential to achieve campaign or marketing goals. The result are outcomes that are optimised to deliver returns, supported through implementation schedules that identify metrics, outcomes and areas of responsibility.

The Marketing Audit and Marketing Forecast are designed to deliver results within the existing resource requirements. The Marketing Plan, the third component of the Syneka Marketing Performance Methodology , is designed to align business goals with marketing outcomes. The Marketing Plan considers both the short-term opportunities and the positioning that is required to achieve results into the future. The Marketing Plan defines the metrics that are required to measure marketing outcomes over the life of a business plan.

Marketing Execution is the last element of the Syneka Marketing Performance Methodology . This is because tactics and execution need to be guided through a strategic approach and not the other way around.

In the financial world the auditor never undertakes the day-to-day bookkeeping function due to the obvious conflict of interest. Marketing needs a separation between strategy and execution to ensure the delivery of accurate and measurable outcomes.

Our delivery of the Syneka Marketing Performance Methodology is undertaken through consulting services and training to build the capacity of marketing teams. Download our free guide of Syneka Marketing Performance Methodology to discover how we are re-defining marketing.

Setting the Business Agenda through Marketing

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Many areas of business incorporate continuous improvement, ensuring that processes are streamlined to maximise efficiencies and to reduce costs.

Unfortunately, marketing is an area that is often overlooked, resulting in either aggressive cost cutting during economic downturns, or a rush to the latest buzzwords, with little strategic thought and consideration and returns.
Marketing like all other aspects of a business should be held into account, and needs to adopt a framework that fosters continuous improvement.

Our Syneka Marketing Framework, with our cycle of Audit, Plan and Execution, is designed to incorporate the feedback mechanisms required to improve business decisions, while identifying performance indicators and measuring outcomes.

Strategic Planning Framework

The Framework commences with an Audit as this enables you to assess current marketing activities and to incorporate metrics that evaluate outcomes. The Audit phases answers the question of how to maximise the return from marketing investment. This phase strengthens the measurability of marketing and provides input into the broader business direction.

The Plan aligns business goals with marketing outcomes, positioning marketing as the centre for innovation that drives business capacity. Importantly, this phase helps avoid a silo mentality, by embedding a whole of marketing approach and strengthening internal communications. As a result, marketing is able to guide business growth, through the identification of new market opportunities and aligning the customer experience across a business. The Marketing Plan guides not only short-term actions, but also longer term initiatives that will be achieved that strengthen business capacity.

The Execution component represents the implementation of actions identified in the Audit and Plan phases and is guided by the metrics that have been identified in the earlier phases. The embedding of metrics ensures that there is an ongoing review of marketing outcomes and that value is being achieved. The aim is to move beyond marketing for the sake of marketing and into an approach that provides a measurable return on investment.

The Framework reinforces the fact that marketing can and should be measured, moving beyond basic measurements and into metrics that actually matter for business growth. The approach enables marketing to step up and drive business outcomes, rather than being reactive and missing the ability to influence strategic decisions.

Further details are available in our eBook A Marketing Framework for Ongoing Performance.

Marketing Execution

How to create an effective implementation plan

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An effective marketing plan provides clarity and direction on how to execute your strategic direction. When approaching the execution phase always consider the following:

Let your strategic direction guide your plan – your marketing plan should assist you when determining the specifics of your implementation action plan. It should inform you of what resources you need, who needs to work on the plan and if external assistance is required. An implementation plan should be set out in an order that maximizes the content contained in your marketing plan.

Work to strengths – when allocating responsibilities, remember to work to the strengths of your personnel, partners and suppliers. If there are tasks that you are unable to do as well as others, then consider who is best able to deliver these results.

Work to your timeframes – an implementation plan can be constructed to highlight activities that are required on a yearly, monthly, weekly or even daily basis. Ideally, your implementation plan should be created to match the level of detail and visibility that you need.

An implementation plan is a living document – it is important to remember that an implementation schedule and a marketing plan are living documents that should be utilised on a regular basis. Should your scope or direction change, you may need to undertake an audit of your marketing activities and refine your approach. If an event is delayed, go back to your marketing plan and adjust your implementation approach so you can ensure a timely approach.

The Syneka Marketing Methodology

Creating an effective marketing plan supported by an implementation schedule, ensures that you will have the steps you need to maximize your marketing plan.

A Marketing Framework for Ongoing Performance Cover

Our latest eBook: A Marketing Framework for Ongoing Performance

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Marketing needs a framework that provides the rigour to deliver ongoing performance. The right framework lets you measure performance, establish your direction and implement the required activities.

Marketing is not an ad-hoc series of tasks, it should be underpinned through an alignment with your strategic direction. Our framework follows a structured approach and is detailed in this eBook:

Audit – Reviews your existing marketing activities and measures performance against the current direction. The audit is used to establish metrics, and identifies what is required to uplift your marketing capacity.

Plan – Aligns marketing outcomes with your business goals, ensuring a cohesive strategic direction and the capacity to deliver upon your vision. The plan ensures consistency across all areas of marketing and a common unified direction within your business.

Execution – consists of the delivery and implementation of your marketing plan. The execution phase enables you to measure outcomes and assess the overall impact of your strategic direction. The delivery of marketing outcomes needs to be reviewed on an ongoing basis to ensure consistency and ongoing performance.

Our Marketing Framework is designed to foster ongoing performance and improvement through feedback mechanisms and evaluation.  Please download your free copy of this eBook from www.synekamarketing.com.au/ebooks