The Importance of Transparency in Marketing

There is a common misconception with marketing that it’s a secondary activity to sales. Marketing is often considered to be a great way to bring in new business, but often won’t be the main focus of the organisation.
transparency in business
Transparency in Marketing

There is a common misconception with marketing that it’s a secondary activity to sales. Marketing is often considered to be a great way to bring in new business, but often won’t be the main focus of the organisation. But if your marketing strategy is good enough, you shouldn’t need a sales team at all. Peter Drucker, who is known as ‘the man who invented management,’ once said that the “aim of marketing is to make selling superfluous.”

So how do you go about creating a marketing strategy that means you don’t have to focus all your energy on your sales team? As cliche as it may sound, one of the best things you can do to expand and develop your marketing team is to be completely transparent about what you’re doing. If the rest of the business knows what goes into the marketing strategy, each team is more likely to work cohesively together. 

Marketing as a Bottomless Pit

As mentioned above, there’s a common belief that sales is more important than marketing. Alongside this misconception, another popular theory about marketing is that it’s a bottomless pit, where money goes in, and there is little chance of it ever coming back. And as your budget dwindles, you’re bound to get frustrated that you’re not seeing a return. Then if you do see results, they may not be as impressive or predictable as you want them to be.

But marketing doesn’t have to work this way. When there is transparency within a business, and people understand where the budget is going, your marketing strategy can reach its potential. 

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The Top 5 Benefits of Transparency in Marketing

The obvious benefit to transparency is that the entire business can see what each team is doing, and fully appreciate their successes and failures. But there are many other advantages to being open about your marketing strategy within your organisation. We’ve outlined a few key benefits below:

1. Keep Your Business Motivated

Do you know how other teams in your business are performing? Chances are, you probably don’t, as not a lot of companies have a high level of transparency. But if you were to have this knowledge, you’d likely be much more invested in the success of each team, and the business as a whole. Think about your own team’s projects – because you know them inside and out, even if you’re not directly involved, you’ll undoubtedly care about the outcome. 

The marketing team within a business often works in silos, thus there is little engagement from the rest of the company. But if you break down these walls, you can increase employee motivation and interest, not to mention encourage collaboration between departments.

2. Collaborate Between Teams 

A marketing team is often an interdisciplinary one, with people with specialist skills working together to achieve common goals. And being completely transparent, sharing what each team member is doing, can be a great way to facilitate collaboration. 

A good example of transparency leading to stronger working relationships is something called pair programming. This is a fairly common practice in the software industry, and is where two programmers work on a single task together, sharing the same machine. The idea is that each programmer will bring a different skill set, and by working together, they will get the task done faster, and should learn from each other too. And because there is constant oversight, fewer mistakes should be made throughout the process. 

3. Stop Duplicated Work

Within any department, duplicated work can be an issue, but there is no real excuse for it happening. You may have heard duplicated work, alongside redoing work or missing opportunities, referred to as ‘failure work’. It’s basically any work that did not reach its potential, and didn’t happen as originally planned.

The solution to failure work is transparency. Once you’re aware that such things are happening, you can address the issue, and prevent it from occurring in future. You can put measures in place to stop unproductive work, as long as you know that it’s happening. 

 

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 4. PROPERLY BUDGET
 If you’re not transparent about how much you’re spending within the marketing department, there is a chance that money will be wasted. You need complete visibility when it comes to your budget, and maybe other key metrics too. Some businesses make these kinds of figures and statistics, such as the size of their customer base or budget, totally public.

This may sound like a scary prospect, but it does mean the entire team is held accountable – anyone can view your real-time performance, both within and outside the business. If you knew that your budget and other important metrics were publicly available, you’d probably pay closer attention to each pound spent. 

And when it’s easy to identify opportunities or areas of waste, conversations can be had about ways to develop and grow. Such discussions should also be held openly, so that employees have the opportunity to contribute ideas.

5. Make Balanced Decisions

While a business would struggle to function properly if every employee had an equal say, if everyone can understand the rationale behind a decision, and have the opportunity to submit feedback, better decisions should be made. Some individuals may pick up on potential issues, or offer valuable insight on certain tasks. Essentially, transparency can be the difference between success and failure.

A good example of this could be the planning phase of a particular marketing strategy. If you want to do an A/B test, but are unsure which options to compare, it can be helpful to involve other people within the business. You may even see better results if you work with people who are not in the marketing department, such as the sales or customer service teams. That way, you’re bound to get more creative ideas. And because these teams focus on a later stage of the customer journey, they might have deeper insights into the mindset of your audience.

 

 

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