Global Marketing in the Measurement and Instrumentation Sector: Training and Internal Collaboration

STUDY OVERVIEW

Companies operating in the instrumentation and measurement sector face a number of marketing challenges. The complexity of the products, the quick growth of the market and the ever-changing regulatory landscape are forcing marketing organizations in this sector to adapt and evolve in order to maintain growth.
Best Practices, LLC conducted this study to gather benchmarking data around marketing training, CRM, internal relations and planning. The insights and benchmarks in this study will help marketing leaders determine effective training approaches and ways to work with internal stakeholders such as sales.

KEY TOPICS

• Study Overview
• Key Findings & Trends
• Marketing Training and Development
• CRM Utilization and Oversight
• Marketing and Sales Relationship
• Marketing Planning Process

SAMPLE KEY METRICS

• Percentage of marketing staff with traditional marketing background
• Number of training days per year
• Presence of formal training program for non-marketers
• Impact of employee background on effectiveness after one year
• Presence of rotational development program for marketing staff
• Usage, software and satisfaction level with CRM solution
• Does sales organization mandate that field force complete detailed sales notes?
• Does marketing have full access to customer information in CRM?
• Regularity of sales follow-up on marketing leads
• How is the sales force organized?
• Presence of an annual operating planning process

SAMPLE KEY FINDINGS

• The Percentage of Marketers-Scientists Normally Ranges between 30 and 80%: The percentage of marketers with non-traditional marketing backgrounds (marketers-scientists) ranges at benchmark companies from 30% to 80%. In a long term, marketers-scientists are as effective or even more effective than marketers with traditional background. However, to fill the knowledge and experience gap, companies need to provide substantial training for newly hired marketers-scientists.

• Marketers-Scientists Need Twice As Much Training as Traditional Marketers: Companies that have 75%-80% of marketers-scientists provide an average of 20.5 days of training for new hires while companies where marketers-scientists are a minority provide only 10.5 days. Even for existing hires, companies with higher share of marketers-scientists provide twice as much training as companies with traditional marketers. Since a vast majority of companies don’t have rotational development programs or other infrastructure to quickly and effectively develop marketers-scientists, there should be a healthy balance between the share of marketers who need a significant training and time and marketers who can be deployed quickly.

METHODOLOGY

Best Practices, LLC engaged 7 marketing leaders at 7 companies through a benchmarking survey instrument and interviews. Research participants work in such functions as product marketing, global marketing, field marketing, digital marketing, marketing communications, field application and marketing program.

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