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This article discusses the challenges and benefits of a Marketing Center of Excellence (CoE) Business Operations model and how the RACI tool can be an effective building block for creating a CoE by emphasizing the importance of clearly defined roles and responsibilities .
By means of Maria GeokezasChief Operating Officer at Heinz Marketing
If this year has taught us anything, it’s that the world is moving faster and faster. Projects that used to take hours can now be completed in minutes with the right tools.
As you can imagine, this shift has had a major impact on the marketing landscape. And expectations surrounding quickly launching new programs or adjusting existing campaigns.
One way marketing teams can respond to these challenges is by adopting a Marketing Center of Excellence (CoE) model.
In case you’re unfamiliar, a CoE helps eliminate inefficiencies in your workflows so your team has more time to focus on what’s important: revenue generation and customer satisfaction.
But the transition to the CoE model can be difficult.
Below, we’ll discuss the challenges of setting up a CoE, discuss why the benefits outweigh the obstacles, and introduce one of our favorite tools you can implement right away.
Implementation challenges
Implementing a CoE requires significant changes in work processes and organizational structure. The shift requires buy-in from all teams, which can be difficult. Here are some of the most common obstacles.
1. Shifts in sales and marketing roles
When moving to a CoE, teams must rethink how they qualify and prioritize leads, manage customer outreach, and use digital tools to connect with customers. These changes often require investments in new technology and training.
2. Adoption of new acquisition channels
The CoE model is based on smooth communication and progress tracking, which is built into most digital channels, including email and social media. However, this could lead to a longer adjustment period for companies that still rely on traditional sales and marketing channels such as direct mail and cold calls.
3. Lack of change management processes
Ultimately, some employees will resist change, even if it will make them more efficient in the long run. Companies must be prepared to overcome this resistance by working with all involved teams to help them understand the benefits of the new model during the transition.
Benefits of the Center of Excellence model
Even with the challenges you have to overcome, the benefits of having a CoE are undeniable. Some of these benefits include:
1. Improved conversion rates
One of the benefits of creating a CoE is that it can help you increase your lead conversion rate. By creating a streamlined system for outreach and ongoing communication, you can fine-tune your marketing and sales processes to improve conversion rates over time.
2. Lower lead generation costs
By putting systems in place that focus on the most promising leads, companies avoid wasting resources on leads that are unlikely to convert. This approach helps companies reduce their overall marketing spend and increase ROI.
3. Improved sales force utilization
A marketing CoE produces better leads for your salespeople. That means your sales team can close these leads faster and in turn connect with a greater number of leads.
4. Continuous optimization
The CoE model has a built-in optimization cycle. Because every marketing and sales activity is tracked, monitoring performance metrics and identifying areas for improvement becomes much easier.
5. Increased customer satisfaction
Customers value teams that can respond quickly and deliver a consistent message. When your processes are mapped and automated as best as possible, your customer experience will reflect this.
How to Create a Center of Excellence
There are obviously multiple ways to develop a CoE. But the RACI model is the most effective tool we’ve found for getting started.
The RACI model helps you identify all the tasks involved in a process, list them in order of necessary completion, and clarify all project stakeholders and their roles.
With the RACI model you identify who:
Responsible parties: The individuals responsible for performing the work or task and making the necessary decisions to ensure its completion. It is possible that several people share responsibility.
Responsible party: The person designated as owner of the work or task and who must approve or sign off when the objective, decision or task is completed. They are responsible for ensuring that all related activities are assigned appropriately. To achieve success it is crucial that only one person is responsible.
Parties consulted: Individuals who must provide their input before the delivery and approval of the work. These people are actively involved in decision-making.
Informed parties: Individuals who require regular updates on progress or decisions, but do not need to be formally consulted or contribute directly to the task or decision-making process.
Once you have identified your roles, ask yourself the following questions:
- Does each task have at least one responsible and accountable party?
- Does one party have too much responsibility? (In that case, you’ll want to reassign the tasks more evenly to avoid bottlenecks.)
- Are there parties that can be removed from a role to make the process more efficient? (For example, too many consulted parties can slow your progress. You’ll want to remove anyone who isn’t a clear stakeholder in the project.)
- Does everyone have confidence in the role he or she has been assigned?
By assigning each part of your process to a specific party (or two), you ensure that important tasks aren’t passed from person to person or, worse, forgotten entirely.
The RACI model also works well if you structure or coordinate interdepartmental processes with an external team.
Whether you adopt the RACI system – or choose another tool – consistency is key. To make the CoE model work, you need to accurately capture your processes so your team can work faster, be more flexible, and reach more potential customers.
Reference By: www.heinzmarketing.com
