Harnessing Innovation to Advance Customer Marketing Programs
Promoting & enabling innovation and excellence in Customer Marketing is a goal that organizations, regardless of industry, aim for but often struggle with finding the means to do. Due to the constant changes and challenges associated with marketing programs, leaders must find a way to accurately structure, staff, and organize marketing groups to reach a broad array of customer groups.
Developing a customer marketing strategy may be a challenge, but it is a task that leaders must embrace. Including innovation into marketing programs by harnessing new technologies can help to test and measure success of a new product.
So, you may be wondering, “what are some of the best practices associated with marketing?” or, “What is it that separates the good companies from the best companies?” From a research report, we compiled various benchmarks that show how some organizations are leading the pack in the marketing function.
One main factor that sets leading marketing departments apart is the way the organization deals with innovation. 1/3 of respondents from the study utilize a dedicated unit to promote innovation and excellence in customer marketing. These groups are often headed by a president (ranging from EVP to VP), signifying the importance of innovation to various organizations.
Benchmark participants also mentioned that understanding the overall mission of marketing innovations is essential for these groups. The top 3 missions included:
- To be innovative in providing value based solutions to clients.
- Support each of the Brand teams’ payer objectives (i.e., reimbursement and contracting strategy) and support the Managed Markets team by providing resources to enhance customer relationships.
- To innovate to develop patient health first while still remaining cost-efficient.
Identifying & clarifying the core objectives of your organization’s marketing strategy will motivate executives to better achieve short and long-term goals. Although there does not appear to be a clear consensus on how a company should approach innovation and excellence in customer marketing, leaders can get one step closer to excellence by learning from best practices.