Topic 6 implementation and evaluation Flashcards
business architechture is
the golden thread that connects strategy and execution
tells us how an organization is structured to deliver value to its customers and support its operations
The marketing department
“a well designed operating model is the bridge that allows a company to turn its strategy into results”
Organizing for a digital world entails choices in five areas
structure
accountabilities
governance
capabilities
ways of working
5 areas: structure
involves drawing appropriate boundaries for lines of business and functions; and defining centers of expertise and other coordinating units
5 areas: accountabilities
describe the roles and responsibilities of the main organizational entities, including ownership for profit and loss statements and a clear, value adding role for the corporate center
What is the effect on marketing
- advertising ecosystem is expected to feel a deep impact
- the way we do marcom is changing rapidly:
a. leveraging zero to first party data to achieve the level of behavioural targeting we were able to before
b. focus switch to retargeting + leveraging your existing customer database - organisational change
a. data driven organisation
b. marcom team profiles and structure ( new profiles and expertises ) - marketing teams and related teams have a huge technology challenge ahead of them
a. higher requirements from your marketing technology stack
b. technology adoption challenges
RETHINK DATA AND TRACKING STRUCTURE
5 areas: capabilities
refer to how the company combines people, process and technology in a repeatable way to deliver desired outcomes
5 areas: governance
refers to executive forums and management processes that yield high quality decisions on strategic priorities, as well as budgets and incentives to align behaviour
questions you could ask
what is the operating model needed to simultaneously disrupt existing processes, drive value, and improve customer experience while reducing costs to serve?
how can we use design thinking to reinvent user experience for our most important journeys?
What is the right mix of capabilities and approaches we should develop to meet our primary objectives based on our starting point and aspirations?
how do we set up teams to be successful in a digital world?
what is the IT architechture we need to support a next generation operating model?
5 areas: ways of working
describe the expected cultural norms for how people collaborate, especially across the boundaries between functions or teams
Customer journey orchestration
the strategic process of designing, managing and optimizing the interconnected touchpoints, workflows and programs that guide potential and existing customers through their interactions with a brand, with the aim of nurturing relationships and driving revenue growth
customer journey orchestration is driving your automation strategy
technology ( and data ) is the backbone of marketing
marketing automation refers to
- software that handles routine/ repetitive
marketing actions without the need for
human action
a marketing technology stack
- a structured collection of integrated
software
tools and technologies that marketers use to
plan, execute, analyse and optimize their
campaigns
Customer journey orchestration and marketing control become more difficult
Core poart of your Martech stack
leveraging first party cookies ( data you collect yourself on your website) in a HUB
martech stack
toolbox of the marketer
collect
measure
activate
collecting, analysing and activating data via a broad range of functionalities
integration with multiple platforms
streamlining the creation and launching of marcoms campaigns
track multi channel performance
Spectacular growth in 2024 of marketing tech because of
AI
Competitive advantage thanks to advanced customer journey orchestration, supported by marketing automation and the right marketing technology stack
The smell of the place
management should create the right context that shapes the behaviour of people
from constraint, compliance, control and contract to stretch, discipline, trust, and support
Scaling agile @spotify
balanced scoreboard
a strategic plan and measure technique that is used extensively in business, government and non profit organizations worldwide
balanced scoreboard: why was it created?
to align business activities to the selected marketing strategy of the organisation, improve communications and monitor performance against strategic goals. with the BSC this is done not only in short term profits but in a more balanced way
It provides a way to have more full view of the strategy and follow up on the connection between the perspectives of financial performance, customer satisfaction, internal efficiency and learning and growth (innovation)
strategic objective
financial perspective
- broaden revenue mix
customer perspective
- increase customer confidence in our financial
advice
internal perspective
- cross sell the product line
learning and growth perspective
- develop strategic skills
- access to strategic info
- align personal goals
KPI
measure
metric
key performance indicator
the unit of measurement you will use for measuring progress
target
the actual number you want to reach by a specific time
initiative
a description of the actions that will be taken in order to reach the target
objective
goal
what do you want to achieve (in words)
how to develop KPIs
clearly state the objectives that need to be reached in order to execute the selected strategy successfully
think of units of measurement that could be used in order to measure progress. BE CREATIVE: some measures are used already but some can be set up or bought
there are 3 types of KPIs
raw numbers
progress
change %
determine for each KPI the source and the frequency of the review
