Never waste a good crisis

Never waste a good crisis 18th of June 2009 "In times like this, you need to make sure every single dollar you spend is going to take you as far as it possibly can," says Kelley Quian Troia, Senior Director, Marketing Operations, Wal- Mart in a recent interview. We agree. Never waste a good crisis. The current crisis has definitely accelerated the already growing interest in marketing operational excellence. Many departments such as product development, procurement, finance and logistics have dramatically improved their processes over the years, except most marketing departments. Currently every business department in the company is forced to rethink and prove their added value in relation to the company results, including marketing. The key to success is accountability and marketing operational excellence. It drives not only savings, but also improves marketing performance, sales and shareholder value. Regardless of the crisis, the position of marketing is under growing pressure. "A few years ago marketing was mostly a line position. Nowadays that is the case at only 19% of the companies", professor Verhoef found out. Referring to the four P's of Kotler, he argues that “two or maybe even three of their four key tasks slip through the marketers’ fingers,” Professor McDonald reminds us in his book, “Marketing Due Dilligence”, that marketing “should be driving any organization’s strategy, not residing in some remote, self-contained area of the office, fiddling with T-shirts and promotional campaigns!” Much of Troia's job revolves around maintaining the infrastructure and processes that enable the reporting needed to demonstrate marketing effectiveness. Although it can sound scary, greater accountability does not have to be a bother. In fact, it can be a relief. Troia is willing to share some advice on improving marketing accountability. Here are the four major challenges: Challenge #1. Getting the right metrics Challenge #2. Assigning governance, roles and responsibilities Challenge #3. Creating a strong process Challenge #4. Creating willingness Continue reading Kelley's advice here. MRMLOGIQ.com 9.07.2009