- The B2B Buzz
- Posts
- 3 Key MBOs for B2B Marketing Excellence
3 Key MBOs for B2B Marketing Excellence
This Week's Buzz
A NOTE FROM THE EDITOR
This week’s article is about key Management Business Objectives for B2B Marketers is part of our Team Excellence series / topic.
Don’t forget to join the Buzz Community, it has been completely reimagined using Mighty Networks. To join, simply go to the community landing page and ask to join. It's Free. Can't wait to chat with you all there.
And, of course, from the bottom of my heart, I want to thank you for subscribing to the B2B Buzz. This endeavor is not possible with you -- our readers. For questions, comments, and feedback, please don't hesitate to let me know.
IN THIS ISSUE
This Week's Topic: Team Excellence
Buzz Community: We are live. Join Now.
More Buzz: Share the Buzz. Get Swag.
IN PARTNERSHIP WITH
3 Key MBOs for B2B Marketing Excellence
Most heads of marketing measure their team the wrong way. Management Business Objectives (or MBOs) is method to align teams with business goals. B2B marketing team management is no different. What is unique to B2B marketing is understanding how marketing drives the business forward and ensuring team members individual goals are in alignment to that. Here are 3 keys in ensuring that alignment.
Key #1: Measure Outcomes not Tactics
B2B marketing contributes to a business in many ways. Ideally marketing as a whole should be measured based upon outcomes, including: revenue, pipeline creation, improved NPS / cSAT, etc. And MBOs should follow that marketing performance measurement rationale. Below, we see the 5 steps for MBO alignment which connect the dots between business performance to individual team member’s contribution to delivering those outcomes.
To make that successful, as marketing leaders, we need to focus on outcomes not day to day tactics in measuring a team member’s success. All too often I see activity as the proxy for success, but it isn’t. Success is an outcome. Thus we should measure individual success using the same framework.
Key #2: Reward for Collaboration
Marketing is a group effort and so teaming should be an important part of measuring a team member success. This goes for intra and well as inter departmental collaboration. And this goes from the most junior marketing coordinator up to the CMO. Collaboration is key to marketing’s success.
How do you measure this? Ask HR to include a NPS-like teaming question into their 360 degree review process or send a survey out to relevant constituencies. But teamwork is measurable and actionable for performance reviews and should be included in every marketers individual goals.
Key #3: Tree Up MBOs
Alignment is key to successful team performance management. Not only should MBOs be aligned to business objectives, but they also need to align hierarchically. That is, based upon your performance to activity matrix each member of your marketing team will have a set of activities that contribute to a particular business outcome. In aggregate across a team you’ll need to measure what the team contributes to an outcome. And all the way up the line.
This cascading MBO approach forces alignment and collaboration. It is the tactical link that can empower a team for group success. And people managers are responsible for their collective team’s delivering against these outcomes. And managers of managers are responsible for the collective delivery of their team of teams; and so forth. Thus the CMO’s MBOs are the collection of business outcome success the marketing team is contributing to the overall business: revenue, margin, pipeline, etc.
What are your thoughts on marketing team member performance? Share your thoughts on The Buzz Community.
IN PARTNERSHIP WITH
How CMOs Are Proving the ROI of Marketing Automation.
Marketing teams rely on many contributors to run smoothly, but ultimately, the CMO is the one responsible for proving that collective effort is delivering the big results for outside stakeholders.
Download Adobe’s eBook to learn about how real CMOs used Marketo Engage to reduce cost, increase revenue, and prove serious ROI for their marketing teams.
THINGS IN OUR INBOX*
Front Office Sports - Influence of sports on business and culture
They Got Acquired - For entrepreneurs who are thinking about selling their company
Growing Up - For Founders and Leaders of SaaS and Software Firms
|
|
SOLUTIONS & TOOLS*
Keap - CRM and Automation for SMB.
Quickbooks - For entrepreneurs and businesses looking for financial management.
Zoominfo - B2B Data at Scale for Marketers & Sellers.