At MindTree, we are beginning to plan for 2011-2012. A theme that is emerging for the marketing team is how we effectively move up the marketing continuum towards outcome based marketing. Since 2008, we have brought a lot of transparency and measurement to what we do in marketing at MindTree. We have goals in place, in the form of numbers, for just about everything you want, such as:
- # of inquiries from the Web site
- # of analyst briefings
- # of events supported
- # of blogs
- # of unique visitors to the Web site
- # of LinkedIn followers
This has been a good start, and I am not suggesting that this is something we stop monitoring. But by moving away from activity-based marketing and moving towards outcome-based marketing, I want to be able to measure:
- Customer Lifetime Value
- Market share of a client
In other words, I want to better measure marketing’s impact on MindTree’s business. In order to do this, we need to focus less on the top end of the sales funnel; and focus more on the bottom end of the funnel. I’d like to see marketing at MindTree focus on moving leads through the sales cycle (quicker) and help build loyalty as leads come at the narrow end of the funnel and ultimately become clients.
How do we accomplish this? What are the critical success factors? I have my views and I will share them in my next blog. In the meantime:
- Has anyone effectively implemented an outcome based model within their marketing organization?
- If so, what were your critical success factors?
I look forward to hearing from you