Example: Setting Realistic Goals (the SMARTech Way)
Consider the following situation: Your analysis shows a degradation in revenue performance on a certain channel, or a certain category, or a certain product line while the dollars invested in marketing, people or sales enablement stay the same. This product line makes up 85% of your company’s overall sales. There are 3 more product lines.
What is the culprit?
This degradation could be due to a stagnant or contracting marketplace. To determine whether it’s a marketplace problem, a people problem, a process problem or a technology problem, you can benchmark the marketplace against internet search trends and other market research data.
For the purposes of this example, let’s imagine that you discovered the marketplace is contracting. The marketing spend is the same, the sales focus is the same and sales for this product line are going down year over year. Research has confirmed it’s a marketplace problem.