In recent years several models have been developed to measure the maturity of marketing within an organization. But the dimension with growth potential remains underexposed or blurry. There is also a lack of focus and measurability. So I went on a quest to create a new model.
The horizontal axis indicates the maturity. The maturity is divided into five stages: Ad-Hoc, Repeatable, Defined, Managed, and Optimizing. The vertical axis represents the (financial) value for the business.
The growth lies in the combination of the two axis. The growth curve can be recognized as a s-curve from the ‘old’ marketing literature. In the beginning growth is slow and the effort is high. After this, everything has accelerated (little effort, lots of impact). In the end it is becoming increasingly difficult to achieve additional value.
Circles of Focus Areas
The circles in the model are the focus areas of the model (these could possibly be extended). The size of the ‘filled’ circles stand for the internal focus / attention that the company has on the focus areas. The size of the ’empty’ circles stand for the attention / focus for the next period in the growth plan in order to mature. The five focus areas are: Communication, Channels, Sales, Customer Insight and Marketing Intelligence.
The gray area between all areas is the “position” that the company holds. The model can be used as a quick scan or for more organizations to be compared.
The growth curves are always focus towards the growth curve (s-curve). This balances business value, effort and focus in a reasonable way. All values are obtained by a questionnaire (answers in scores).
Low, Medium and High
Questionnaire for a quickscan
What do you need to determine the business value and maturity for the focus areas? By means of a questionnaire a score can be assigned to all areas. Do you want a quick scan? Contact Diederik Martens to make an analysis of your organization (maybe compared to some competitors) and to set up a customized growth.
Issues with the model
Measurability of business value
Measuering in Low, Medium and High leaves room for interpretation. The problem lies in the fact that marketing ROI is difficult to measure and report. It is difficult to measure to what extent campaigns, channels, and so forth (financially) contribute to the business. This can be illustrated with the following example: There’s not just one marketing activity that leads to buying a software package, but it’s a combination of activities (e.g. events, sales visit, e-mail). But to what extend does each of these activities contributed to the sale? By using software like Marketo, the contribution of all marketing activities can be allocated to a conversion.
Potential updates for the model (26-5-2011)
Besides business value you can also considder other vertical axis like: customer value or customer engagement.
How to achieve the growth? Work on the weak spots. Concept (27-5-2011)