Do the marketing projects in your organization meet your expectations?
Managing marketing projects successfully goes far beyond achieving a certain amount of leads.
This lead generation must exist among efficient processes that maximize the available resources and increase the return on investment.
Do you want to know what mistakes your organization’s marketing is preventing your organization from obtaining the ROI you’ve always wanted?
In this blog post, we’ll talk about three common mistakes made in marketing projects and tell you how to avoid them with software.
Four Characteristics of a Successful Marketing Project
- Full visibility of all processes and campaigns in progress.
- Good monitoring and reporting capabilities.
- Excellent change management.
- Good resource management.
Without this, project success will be weighted only by quantitative results (amount of leads generated).
Thus, we would be leaving aside the search for efficiency in the processes, which can generate economic losses in the long term.
Four Common Mistakes When Managing Marketing Projects
One of the biggest challenges when managing marketing projects is resource management.
Good resource management is not only about resource allocation and utilization.
Instead, it also needs to monitor resource utilization during every phase of each project.
In this regard, 35% of project managers rely on MS Excel to prepare project resource plans.
According to this, we can assume the management of this data is manual. Therefore, it consumes valuable time for managers who need quick and easy access to this data.
This manual and decentralized management of project resources also make it difficult to monitor them. With this, we can explain why only 34% of organizations always or almost always complete their projects within budget.
Managing Too Many Projects at The Same Time
Another major mistake made in marketing project management is managing too many projects simultaneously.
While most managers manage between two and five projects at a particular time, not having the right tools to do so efficiently directly impacts the success of those projects.
Why? Because when the average decision-making time on a project reaches 5 hours, the success rate of that project drops to 18%.
Not Being Prepared For Change
It doesn’t matter how technically gifted and prepared your teams are. If they cannot cope with change within a project, its success will be harder to achieve.
How do you deal with a change in scope or any other aspect of an ongoing project?
- By enabling all stakeholders to have complete visibility into all facets of the project.
- Facilitating communication and collaboration between stakeholders and the teams involved.
- Automating the management of information on the different phases of the project.
As a result of doing this, you will ensure the success and efficiency of the project in question.
Not Measuring Results
Another challenge of managing projects is measuring results constantly or even in real-time.
47% of project managers do not have real-time access to their project KPIs, according to Wellington.
In addition, 50% of these managers spend between four hours and one day a month gathering information for performance reporting.
Considering projects within an organization form a chain of iterative processes in which the search for efficiency to maximize resources is constant, how can you achieve this if you don’t know how the project is performing?
How do you know which areas need improvement if you don’t have easy access to the KPIs you need, and how do you know which areas need improvement if you don’t have easy access to the KPIs you need?
To manage any potential change to the project well, you need to have access to KPIs and metrics so that the decision is well-informed.
Without this, all changes and decisions will be based on educated guesses rather than data.
Moreover, this increases the risk that decisions will not be the best for overall project performance.
How to Have Successful Marketing Projects?
As we have pointed out above, a marketing project or campaign must go beyond generating leads. This project must reflect efficient and optimized processes that allow you to maximize the return on investment.
How can you achieve this:
- Managing project resources correctly and efficiently.
- Centralizing the overall project management to facilitate the management of multiple projects simultaneously.
- Being prepared to implement proposed changes during project development.
- Measuring KPIs and project performance metrics constantly and even in real-time.
This way, you will be closer to having projects and marketing campaigns that meet your lead generation expectations. Furthermore, these projects will be efficient and will maximize the investment made.
Contact us today for more information on how we can help you avoid these mistakes and improve the management of your organization’s marketing projects with software.