A report released Tuesday, October 11, clearly demonstrates that “marketing-ready” organizations achieve more than a 15 percent higher return on marketing investment (ROMI) than companies that are less prepared . The report was researched and developed as a collaborative effort between the Aberdeen Group, American Marketing Association (AMA) and SAS. The results were drawn from over 600 AMA members who participated.
It shouldn’t surprise anyone that companies doing a better job of managing customer and stakeholder relationships enjoy improved results. What did surprise some of the researchers was the magnitude and clarity of the correlation between these marketing best practices and improved marketing success.
The report defined “marketing-ready” enterprises as companies that 1) possess and utilize data-driven enabling technologies to facilitate better customer relationships and, 2) refine that data to create a unified view of customers across functional areas within their companies i.e., services, sales, marketing, support, etc. I think marketing-ready also implies companies that have the people, products and systems in place to fulfill and exceed their customers’ expectations.
It was also noted that in addition to better marketing success, “marketing-ready” organizations also had higher gross revenues and increased customer retention rates over non-marketing-ready organizations.
You can register on the first link above to receive a benchmark of the report. The full research report is a worthwhile investment for any organization that is focused on improving their results and demonstrating the efficacy of sound marketing investments. You can also go to wsradio.com and hear the archived show from 9/14/2005 that featured Alan See of SAS and Leslie Ament of The Aberdeen Group discussing marketing-ready enterprises. It is an enlightening discussion.