Marketing sophistication, or some would call it marketing maturity, is the biggest step any company can take to achieve predictable revenue growth. That is, every company has two main goals: Revenue and Growth… The journey to achieving this maturity, or sophistication, is misunderstood and poorly executed. Through a layered approach, companies can build their marketing to not only achieve revenue growth over X amount of time, but they can do so effectively and efficiently. Let’s bite into the ice cream sandwich…
We don’t build ice cream sandwiches from the top down. We don’t build any sandwiches like that. So, the foundation of this marketing ice cream sandwich is where the groundwork has to be done to begin processing the idea of a mature marketing engine. This involves setting up the basics of your marketing; market research to understand the ideal customer/target audience, developing your unique value proposition, and then the establishment of your brand in the marketplace.
This layer tends to be one of the most important pieces because it sets the tone for everything else. It’s all about building a solid base on which all other marketing activities can be placed. The focus should be to set clear objectives, understand the landscape of competition you have, and then ensure everything you do aligns with the goals of the business and the goals of your marketing.
We’ll give you two quotes to ponder from James Clear, the author of Atomic Habits:
Once your foundation is set, the next layer is the programs, systems, and campaigns you will run and the content you will create. This is where actual value from your marketing comes to light. Marketing programs that work are usually designed based on the insights gathered from the foundation stage. Meaning, they’re tailored to meet the needs and preferences of this target audience you’ve set in mind. You can expect this stage to involve content marketing, digital marketing, direct marketing, and then any other relevant marketing channel that will help you reach this audience.
Keep in mind, the best way to succeed in this area is to have a blend of creativity, relevance, and consistency. Also keep in mind that your audience is almost always going to be in a specific community, using a specific channel, and will most likely ingest a specific type of content. Using this information, formulate your game plan. The systems and programs you use here shouldn’t just attract attention, but should also engage your audience, turning them into loyal customers or brand advocates.
“Team work makes the dream work,” right? Well, having the right team and budget to execute your marketing plan is what resourcing is all about. If you report to the CEO, you’ll have to convince him/her and the board why investing in marketing is a key driver to the growth of your business. When you can gain the resources, building the team is critical for implementing the previous steps.
Human and financial capital should be top of mind. It’s about getting the buy-in from those above you and to ensure that the marketing department is well-equipped. Not under-staffed, not under-knowledgeable, etc. Get it all together in order to deliver on the objectives.
Now obviously, we have the ice cream sandwich together and it needs to be good. This is the final layer; Outcome. More specifically, driving the revenue growth as a result of all the other layers. This is the final/ultimate goal of every marketing effort. However, reaching this goal requires a solid foundation, solid processes/systems, and the right team and resources available. This layer is the reflection of how well the other layers have been implemented. It’s about measuring the impact of your marketing and the business’s bottom line.
Every company aspires to achieve predictable revenue growth, however, very few understand the other steps that are needed before even dreaming of reaching such goals. It’s crucial to recognize that marketing maturity or sophistication doesn’t mean being “world-class” in all areas. For many founder-led businesses, the goal is to literally just be “good enough” so that you can drive more revenue over the long haul.
By taking into consideration the ice cream sandwich approach, companies can try and systematically turn their marketing efforts into revenue growth machines. The journey to achieve marketing maturity/sophistication is one that’s strategic and incremental, requiring patience, persistence, and a keen understanding of your business and the market.