Marketing has been a pampered child of organizations. It has been able to dodge accountability for many years but now with increased pressure of performance management across the enterprises, many organizations have become clear on the culture of accountability for marketing. Let’s discuss the Ins and Outs to increase marketing accountability and identify the gold standard five ways to kick it up a notch.

Supercharge Market Accountability in Five Ways
In an organization, Sales Department knows whether they accomplished year –end quotas or not. Engineering division knows the schedule and specifications of a manufacturing release and IT section can report their work closure order any time. Only the marketing department is not deemed liable to the subjective criterion of performance, achieved targets and determines organizational success. Even large business ventures, extremely particular in performance analysis for other departments, usually lack performance yardsticks for marketing.

Why Do You Need Marketing Accountability for Your Organization?
A research has found that companies with a comprehensive market performance management system have 29 percent better sales growth, 32 percent higher market share and 37 percent greater profitability than the companies without one. Do we need to explain more that why culture of accountability is needed for marketing department?

The Five “HOWs”
The organizational success depends on the all-rounder performances and the performance depends on three elements – DATA, ANALYTICS & METRICS. These three are highly dependent on each other. Without Data, you can’t leverage the other two or the other way round. So, the get meaningful insights from data, leverage metrics and define new effective parameters of marketing accountability along with inducing faster fact based decision and maximize quantifiable results, these five technology tactics should be followed up:

Marketing Automation: Marketing automation is kind of customized software to automate marketing processes of an organization such as customer segmentation, customer data integration (CDI), customer relationship management and campaign management. The use of marketing automation makes otherwise manual processes more efficient and cost-effective.

Marketing Dashboard: A marketing dashboard is typically a multi-leveled graphical tool that accelerates the decision making process in organization by alerting users regarding some issues or problems, leverage marketing efforts and bring efficiency in operational procedures. Your dashboard is a kind of performance meter which records your situation against your competitors, speed of projects, pipeline conversion rates, achieved sales, rate of production adaption for each or particular segment, rate of consumer acquisition, pipeline contribution rate and so on. The dashboard also alerts you in case of something amiss or about an impending issue.

Enterprise Information Integration: Also referred as Data integration, the process involves combining all sorts of particular data from different sources. The, then, unified data is provided to the users. This technique is really significant both for commercial and information stand point. If, you want to do some extensive theoretical work or have numerous open problems because of data, this EII could do the trick.

Data Architecture: Data Architecture is the design of data use to define the target plans and the subsequent operations needed to achieve the target state. It’s one of the most strong and structured domains of an enterprise architecture or solution architecture. It describes the complexities of data structures used by an organization, system or its applications. It contains the details of stored and active data groups and items. Data Architecture also includes the mappings of data artifacts to data qualities, applications or locations and the description of how data is processed, stored, and utilized in a given system.

Data Analysis: Data analysis highlights useful information, suggests results or comments and enhances decision making capabilities along with reviewing, cleaning, transforming and modeling of data. Data encompasses diverse techniques and has multiple facets and approaches for diversified business verticals.