The MHEDA Journal - Fourth Quarter, 2013 - (Page 15)

ASK yOuR ExPERT ADVICE bOARD Q "What steps can the marketing manager (or department) take to show their contribution to achieving a company's market share?" Lorie Leitner, Sales Support Manager at ProLift Industrial Equipment Co. in Louisville, KY Jerry Weidmann President Wisconsin Lift Truck Corp. Brookfield, WI A The contribution that a marketing department makes to achieving the company's market share is based on the functions it performs within the marketing department. In our marketing department the following functions are performed. 1. rand development and brand recognition. Our marketB ing department is responsible for the company brand and marketing the brands of the products we sell. Through public relations, articles, advertising, website development, social media and events, our company brand is presented to our customers. The value of brand development is not easily measurable - but is very important to position the company and its products in the marketplace. 2. ustomer satisfaction surveys. As part of the feedback C system on company performance, our marketing department will conduct customer satisfaction surveys from time to time. These surveys provide feedback on the reputation of the company and its brand in the marketplace. 3. Website analytics. Marketing is responsible for our website. Website analytics can be used to identify the number of visits and the leads generated from the website to quantify the value of website activities. 4. ocial media and email marketing. Leads generS ated through social media and email marketing can be measured. 5. Market research. Our marketing department is responsible for market research to identify prospects/customers for the products we distribute. By identifying the correct market segments for communication, advertising and the sales force, the efficiency of our marketing programs and sales efforts are enhanced. This is measurable based on the number of marketing programs developed and the campaigns run. The net result is measurable in lead generation and feedback from sales. 6. elemarketing or Inside Sales. Our marketing department T is responsible for inside sales. Markets are researched, campaigns developed and telemarketing calls are made in conjunction with direct mail and email marketing. The success of these programs is measured by lead generation. The link between leads and ultimate sales results are more elusive. Sometimes a lead generated for one product or service will lead to the sale of a different product or service. Leads that result in sales calls may take months before they result in business. Linking sales back to leads is indirect but a useful way of identifying results from marketing activity. In summary, some of the activities of marketing are not directly linked to sales and measurement is more in terms of functions performed than actual tangible results. Activities of marketing that are intended to generate leads or appointments for field sales staff can be measured in two ways, the number of leads/appointments and the sales that result from these activities. Scott Hennie President Elite Supply Chain Solutions LLC Strongsville, OH A The $64,000 question - am I getting a return on this marketing program? Unfortunately, we tend to go into a marketing campaign with no specific goals, measurements or definitions (at least I do!) of what needs to happen to deem a campaign successful. We allow marketing to become a black hole with no clear metrics to measure success or failure. So, to answer your question, the first step is to meet with ownership and/or executive management and develop a marketing strategy with clear goals and measurements - for each marketing program. Some programs may not be put in place for a specific return on investment, but for image or community goodwill. Make sure that everyone The MHEDA Journal | Fourth Quar ter 2 013 15

Table of Contents for the Digital Edition of The MHEDA Journal - Fourth Quarter, 2013

President’s Perspective
From the Desk of Liz Richards
Ask Your Board
2014 CRITICAL IMPACT FACTORS
MHEDA Member Profile
At Work
Collaboratively Solving Any Issue
Field Service Technicians Go Mobile
Risk Management
Industry Legend Howard Bernstein Gives Back
Greening the Supply Chain through Systems Thinking and Collaboration
Getting to the Top
Want to Grow? Market!
A Totally Mental Makeover
New Members
Spotlight on Association News
MHEDA University
MHEDA Milestones
New Products
Index to Advertisers by Product Category

The MHEDA Journal - Fourth Quarter, 2013

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