Marketing Operations: The Invisible Secret to Superior Performance
Marketing operations is a relatively new concept and among the fastest growing roles in marketing. History shows the term marketing operations was first coined by analyst firm IDC in early 2005 and gained mainstream acceptance in 2015.
As the role and importance of marketing have increased, the need for greater transparency, efficiency and accountability has grown. This is also fueled by the proliferation of marketing technology, marketing spend and increased C-suite pressure for bottom-line results. The purpose of marketing operations is to enhance control, predictability and organizational agility.
Marketing Operations & Multifamily Operators
Multifamily owners/operators and fee managers often lack a platform to effectively manage the myriad of marketing processes, products and logistics needed to drive occupancy, revenue and net operating income (NOI). This often leaves them drowning in details, negatively impacting productivity, cost and performance – creates unnecessary frustration for all parties.
When the focus is on NOI, controlling costs is crucial. Without an efficient marketing operations function, operators lack the data, tools and insights to accurately measure the real costs of marketing. Benson’s research on the marketing operations of multifamily operators highlighted when the process isn’t optimized, the “hidden” costs of non-media marketing is typically as much as 50% of the direct spend. This means an operator spending $500,000 for various print, signage, apparel and promotional products actually has a cost of $750,000.
Business Outcomes of Effective Marketing Operations
A strong marketing operations focus drives five key outcomes:
- Greater predictability
- More control
- Enhanced productivity
- Lower marketing costs
- Higher performance
How Benson Creates Marketing Operations Excellence for Operators
Our Centralized Marketing Platform (CMP) creates operational excellence around the multifamily non-media marketing function. One centralized platform manages the procurement, production, logistics and performance of the most administratively burdensome activities on site. This provides advantages, when utilized, that positions marketers to do what they’re hired to do and what they do best: drive stronger and qualified foot traffic.
- One-stop shopping makes the procurement and production process effortless.
- Easier implementation means marketers can focus on what matters, rather than managing logistics; which minimizes rework – saving both time and money.
- Tracking eliminates surprise, even budget surprises.
- Data and insights ensure everyone involved, from the COO to the community manager, is able to make better decisions.
Our combination of experience (we do this for 2 million units and growing for more than 20 years), process, technology and passionate people enable Benson to serve the unique needs of apartment marketers better than any option available – from the corporate level down to the communities.