Marketing Capabilities Notes no. 2 – Assess for Success banner

Marketing Capabilities Notes no. 2 – Assess for Success


Marketing organizations must evolve or decline. Under pressure from e-commerce, the pandemic, labor shifts, globalization, climate change, social factors, digital payments, etc., older marketing organization structures no longer work like they used to. We have seen the bankruptcy of Sears, Kmart, Jawbone, and Kodak and the concurrent rise of Amazon, Apple, Google, Facebook, and Netflix.

What does intelligent change look like? As discussed previously, it means building the right set of marketing capabilities for your business. Start with three straightforward steps:

  1. Strategy – State with absolute strategic clarity the value you want to deliver. Before choosing ingredients, bakers know what cake they are baking. What cake are you baking? What does your company do for customers that is hard for anyone else to do?
  2. Vision – Define your ideal set of marketing capabilities. Reflect and speak with company insiders. What specific marketing capabilities would help you execute your strategy best? For example, should you build an online community to deepen customer engagement? Would it be better to automate your marketing to boost purchase conversion? Or something else entirely?
  3. Assessment – Identify your marketing capabilities gap. Measure the gap between your present and ideal strength on key marketing capabilities. This analysis will become your roadmap.

Marketing capabilities assessments support business growth, and that is not opinion but an empirical result. Recent research – including in-depth interviews with 125 senior marketing executives, public financial results, and 650 responses to MarCaps’ Marketing Capability Benchmark survey – demonstrate convincingly that winning marketing organizations evolve their marketing capabilities to match market demands.[1,2] An honest marketing capabilities assessment will suggest the marketing capabilities that you need to develop to grow your company.

Once you feel ready, set aside 10-12 minute to take MarCaps' free marketing capabilities assessment. You will receive a complimentary PDF report via email with your top 3 recommended action steps.[2]

 

[1] Rodríguez-Vilá, O., Bharadwaj, S., Morgan, N. A., & Mitra, S. (2020, 11). Is Your Marketing Organization Ready for What’s Next?. Retrieved from Harvard Business Review: https://hbr.org/2020/11/is-your-marketing-organization-ready-for-whats-next

[2] MarCaps. (2021, 9). Marketing Capability Benchmark. Retrieved from MarCaps: https://bit.ly/3avkyL1

Authors

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Marketing Capabilities Institute

October 8, 2021

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