How Distributors Improve Customer Retention A common rule of thumb in distribution is that it…
Five Reasons Distribution CMOs Love SMP
The top marketing executives at most distribution firms never have enough resources. There seem to be endless opportunities that sales reps and vendors want to take advantage of, but a very limited supply of marketing funds and staff. SMP makes life a little more easy for distribution chief marketing officers. Here are five ways we help.
Several studies have shown that less than 50% of marketing executives believe they can efficiently and accurately measure the return on investment of their marketing programs. Measurement is especially difficult to show with varied efforts amongst sales territories, vendor product lines, new launches and email programs. Yet, CMOs are being required to show ROI in order to request new marketing funds. SMP helps CMOs show the value they provide to their companies by letting them share the metrics that contribute to the company’s bottom line.
2. Partnering with Sales
If you ask a typical distribution marketing executive what their biggest frustration is, nine of ten will tell you it’s that sales reps don’t follow up on leads generated through their programs. Yet most sales executives will tell you that they’re frustrated with a lack of leads and the amount of time it takes to generate new pipeline. This disconnect comes from an inability to measure quality leads from the top of the funnel all the way to the close of a sale. More and more customers are researching for solutions on their own, making life more difficult for your sales reps. SMP allows you to be a better partner with your sales team by nurturing your customers and prospects with targeted emails and offers and deliver higher quality leads to reps. SMP also allows you to interact with your sales team using better sales and customer intelligence.
3. Higher mROI
Your CEO wants to know that the dollars the CMO is investing in programs is returning at least a 5X return if not higher. SMP allows you to measure list quality and manage targeted offers that will create a culture of constant improvement on your marketing team. With better targeting, consistent messaging and a constant flow of nurturing campaigns, you will see a measurable increase in your lead generation activity. SMP will then help you track and analyze that data to share your results and improve your performance even further.
4. Best Use of Resources
With better tracking, you will have improved visibility into which campaigns, offers, emails and messages are producing the most revenue. This makes it easy for CMOs to identify the best uses of their limited marketing resources and generate even more revenue.
5. Provide New Competitive Advantages
Your new processes, data and ROI improvements deliver new competitive advantages. Your marketing will step up to the next level by optimizing your digital marketing efforts. Your customers will appreciate the one-to-one touch points and resources. Most of your competitors will say they embrace digital marketing. But you’ll know that you are taking advantage of the best marketing solutions available in the distribution industry.