News & EventsNews

Proving the enterprise value of marketing

How CMOs can prove the value of marketing and drive greater brand value

In the past it was sales that closed the deal, and marketing that was creating the opportunity. But today, the value of a company is so linked to intangible assets, such as brand value and the external perception of a company, that marketing’s role has expanded from simply driving leads and running events to bringing the corporate persona and narrative to life – it is the impact of company intangibles and brand that today create the market perceptions and impact company valuations. According to the Forbes CMO Marketing Accountability report, these intangible assets now make up over 80% of shareholder value and increasingly drive the stock price of a company.

Of course, there has always been pressure on CMOs to be accountable for the investments they make. Marketing departments traditionally spend more than many other parts of a business and, as a CMO, you’re constantly being asked to justify your budgets. What was your return on investment? Did you run effective campaigns? What worked? What didn’t work? What resonated and was compelling with your customer base or your new prospects?

But the role of marketing is changing as activity is increasingly linked to the overall valuation of a company, and for good reason. From advertising to apps and everything in between, driving a great customer experience – and maintaining a positive brand identity – is a core responsibility of marketing. In our multi-touch world, the real challenge for marketing is to determine the true impact of each customer touchpoint – to identify what really influenced a customer’s decision to buy.

To meet the challenge, marketing must change. While visual identity, brand narratives and product innovations are vital elements of marketing, you also need to have verifiable data backing your decisions. Today, it’s about demand and brand to revenue, increasing your market relevance and driving enterprise value. This means you can no longer rely on the gut instinct of the Madison Avenue “Mad Men” – you need the data to derive insights from internal and external information, and to empirically demonstrate where and how marketing is impacting the organization.

And that includes having a 360-degree view of your customers and prospects to understand how, when and where those touchpoints are converting to revenue. It’s about where we engage with a customer, not just at the front end of a deal but all the way through the customer journey.

But it’s not just about engagement with the customer. It’s also about how people perceive your brand and what you stand for; it’s about the impact the company is making on a more societal level. Your Corporate Social Responsibility (CSR) efforts, the strides you are making in inclusion, diversity and sustainability are all factors in the perception of the company and the brand. But without the data, how do you know what impact this having? Do customers and prospects connect your company’s brand to a broader story? Do they believe it?

We all know that you can’t manage what you don’t measure. And at OpenText™, we are increasingly data-centric – across all areas of the business, but especially in marketing. Being data-centric enables you to course-correct. It means you can ensure you are getting the optimized value from the dollars spent and that you’re having the desired impact with customers and prospects from pipeline to conversion.

At OpenText, we use our Enterprise Information Management (EIM) technology to create an information advantage within marketing – from the creation of highly intuitive user and customer experiences, all the way to enabling rigorous data interrogation with analytics and AI solutions. All of which helps marketing to create more value for the enterprise, and a better relationship with our customers.

Show More

Patty Nagle

Patty joined OpenText in 2007 and currently serves as Senior Vice President, Chief Marketing Officer. In her role, Patty is responsible for all marketing and demand generation initiatives, including field marketing, programs, events, product marketing, industry marketing, demonstrations, partners and alliances as well as inside sales. Throughout her 10-year history with the company, Patty has brought a customer-focused view to marketing. Most recently, she served as Vice President of Global Partners and Strategic Alliances, managing all activities for global partners and alliances, including business and operations management, strategy development, program management and go-to-market field execution. With more than 20 years of experience in the high-tech industry, Patty has held a variety of senior management positions, with global sales, marketing and product oversight as her primary responsibilities. Prior to OpenText, Patty was SVP of World Wide Sales, Services and Marketing at Percussion Software, where she was responsible for direct and indirect sales and all customer facing, external media communications, client satisfaction and demand generation activities globally. Patty holds a BA in Business Administration, a BA in Economics and a concentration in Marketing from the University of New Hampshire as well as an MBA in Business Administration & Management from Harvard University. Follow Patty on Twitter: @pattynagleOT

Related Articles

Back to top button
Close