Marketing Operations Defined for Wikipedia, Part II

The 2014 Marketing Performance Management Study conducted by VisionEdge Marketing/ITSMA found that the role of Marketing Operations now includes the following:

• Analytics and predictive modeling
• Budgeting and planning; financial governance and reporting
• Campaign analysis and reporting
• Customer, market, competitive intelligence, research, and insights
• Data management
• Organization benchmarking & assessments
• Performance measurement and reporting
• Project management
• Strategic planning
• Talent and skills development
• Technology & automation & pipeline management
• Workflow process development and documentation

   Technology can help marketers manage assets, generate demand, and measure results. For many organizations, MO is responsible for evaluating, maintaining, and using the various marketing technology components whether stand-alone single point solutions or integrated together.  The marketing technology landscape can be confusing, and the acronym alphabet soup used to describe these technologies only adds to the conundrum: DAM/MAM (digital asset or marketing asset management), MOM (marketing operations management), MAP (marketing automation platforms), and MRM (marketing resource management).  Marketing technology ties together metrics, customer touch-points, and stages of the customer lifecycle in order to optimize its performance and agility in creating growth.  Marketing technology platforms can be organized into four broad categories:

1. 1.  Market and Customer Intelligence and Insights for using data and analytics to identify customer and market opportunities. These technologies support automating intelligence gathering, such as social media monitoring/monitoring and business intelligence tools.  The purpose of these tools is to turn market and customer data into actionable insights.
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3.  2.  Customer Interaction and Engagement for acquiring and keeping customers. These technologies facilitate creating and monitoring customer interaction and support the customer-buying journey.  This is where many organizations have made most of their current and rather extensive technology investments. Most marketing/email campaign automation, customer relationship management, contact management, demand generation and lead management, and sales force automation tools fall into this category.
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5.  3.  Project/Workflow/Operations Management for managing the work of marketing.  These technologies enable marketing to manage projects and produce work by enhancing marketing efficiency and productivity. Marketing resource management, digital/marketing asset management, content management and curation, and project management are examples of technologies that fit into this group.
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7. 4. Performance Management for improving and proving the value of marketing. These technologies help monitor, measure and communicate marketing’s value, impact, performance, and contribution to the organization. Technologies that illustrate this category include marketing analytics tools, marketing reporting and dashboard tools, marketing models, alignment and accountability tools.
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Best-in-class marketers can be characterized as value creators because their primary focus is on using data to make market, customer, and product/service decisions that create value for customers and shareholders.  As a result, MO organizations are actively recruiting and developing people with the following skills, in priority order, in order to create greater value:

• Customer, market, competitive intelligence, research, and insights
• Analytics and predictive modeling
• Data management
• Campaign analysis and reporting
• Budgeting and planning; financial governance and reporting
• Organization benchmarking & assessments

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