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1. 2 3 4 5 6 7 What You Need to Know About Better Dashboards Four Realties That Change Marketing Reporting Two Rules of Better Marketing Measurement.

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Presentation on theme: "1. 2 3 4 5 6 7 What You Need to Know About Better Dashboards Four Realties That Change Marketing Reporting Two Rules of Better Marketing Measurement."— Presentation transcript:

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8 What You Need to Know About Better Dashboards Four Realties That Change Marketing Reporting Two Rules of Better Marketing Measurement Where to Start: KPIs, Metrics and Flow What Companies are Measuring Now Where Measurement is Going Next

9 9 Reality 1: Marketing Has More Roles Than Ever SiriusPerspective: Waterfall-long alignment is driven by planning and execution tied to five critical task families. Inquiries Marketing Qualified Leads (MQLs) Sales Accepted Leads Sales Qualified Leads (SQLs) Closed/Won Business S EED The use of traditional and social media to set the stage for demand to be created. 1 A CCELERATE Efforts geared to help sales move deals more quickly through the pipeline. 4 E NABLE Helping reps move marketing-created demand, as well as to source their own demand. 3 C REATE The generation of “original” demand, with a focus on quality vs. quantity. 2 N URTURE Care and feeding of prospects that have fallen out of the waterfall. 5 Source: SiriusDecisions

10 10 Reality 2: Different Sales Models, Different Marketing SiriusPerspective: What marketing needs to deliver changes based on sales tier, and so do the KPIs and metrics to track results. Source: SiriusDecisions S EED A CCELERATE E NABLE Strategic Enterprise/Territory Small/Medium Business T IER T HREE C REATE N URTURE S EED E NABLE N URTURE C REATE S EED A CCELERATE E NABLE T IER O NE T IER T WO

11 11 Reality 3: Most Inquiries Arrive Via Inbound Channels SiriusPerspective: The reality is that prospects find you when they’re ready; inbound marketing needs a bigger slice of most plans Source: SiriusDecisions

12 Reality 4: Tactics Are Valued Differently By Phase 12 SiriusPerspective: It has never been more important to understand how buyers buy and what they prefer to drive marketing focus Source: SiriusDecisions Buyer-Preferred Tactics by Buying Phase

13 Result: BtoB Reporting Must Evolve SiriusPerspective: Reporting needs an overhaul to support the expanded role and changing tactic mix for b-to-b marketers Buyer Control and Preference for Multiple Tactics More Roles for Marketing Plan, Execute and Measure Differently

14 Rule #1: Never Confuse Activity with Results 14 SiriusPerspective: Marketing reports must answer the question “what do they do for us?” in terms sales and management understand What Marketing Reports: “We held 6 webcasts, 2 tradeshows, did 5 press releases and sent 10 email campaigns last quarter.” What Management Wonders: “What revenue did that bring in?” Source: SiriusDecisions

15 Don’t Link Individual Tactics to Closed Deals 15 SiriusPerspective: Don’t attribute wins to a single touch when it takes on average three to six touches to qualify a lead, and more to close. MQL Web/ Inbound Tele Other Outbound First/Last Touch MQLClose Single Tactic Attribution Multi-Touch Attribution Source: SiriusDecisions

16 16 Rule #2: Measure Numbers that Matter Metric: A measurement system that quantifies a trend. Metrics are used to diagnose causes, explain results, and project future events and likely outcomes. KPI: Key performance indicators are measurements that indicate the health of the business and are centered around aggregate growth, costs, market share and profit. Source: SiriusDecisions Inc SiriusPerspective: Understand the difference between KPIs and metrics and what they tell you about marketing impact

17 Choose the right measurements for your business SiriusPerspective: Take on the marketing measurements that will have an impact and are achievable. Data SourceData Quality OwnershipAudience Business Decision Measurement Selection Criteria What business decisions will you make with the measurement? Can you identify the data source? What is the quality of the data? Who is the audience? Who will “own” the data? Questions to Answer 17 Source: SiriusDecisions

18 Where to Start: Four KPIs Summarize Marketing Impact Marketing Sourced Pipeline % of sales pipeline uniquely created by marketing 10% to 50% Marketing Influenced Pipeline % of sales pipeline touched by marketing 30% to 82% Investment-to- Pipeline Average cost of demand creation of the sales pipeline 1% to 4% Investment-to- Revenue Average revenue generated from $1 invested in demand creation $5 to $20+ Average* *Cross-industry averages for b-to-b companies SiriusPerspective: To reflect changes in marketing’s charter, its measurment will take a broader look at investment and results. SiriusPerspective: Net out marketing’s contribution and effective use of budget with four benchmarkable KPIs. Source: SiriusDecisions 18

19 Where to Start: Six Metrics Diagnose Opportunity Database % database with bad/ incomplete records 25%+ Inquiries Raw response or hand raiser 2-5% Marketing Qualified Leads (MQLs) Lead ready for receiving function to work 4% to 8% Sales Accepted Leads (SALs) Lead accepted by receiving function 45% to 75% Sales Qualified Leads (SQLs) Lead that is opportunity in pipeline 50% to 60% SQL-to-Close Leads that have closed 20% to 30% SiriusPerspective: Net out Marketing’s contribution and effective use of buget with four benchmarkable KPIs. SiriusPerspective: Expand on KPIs with six metrics that break marketing demand ceration contribution into component parts. *Cross-industry averages for b-to-b companies Source: SiriusDecisions 19 Average*

20 What B-to-B Companies Are Measuring Now 20 SiriusPerspective: Though many metrics are counted, those rated most valuable are related to waterfall results. Overall Status ROI Market share Customer sat/loyalty Views by segment and geo Marketing spend vs. budget Demand Creation Marketing sourced demand Marketing influence Waterfall metrics Buying cycle length Cost per lead Reputation Web analytics Analyst positioning PR/AR activity Event activity Marketing Operations Database growth Shared services utilization Stakeholder satisfaction Source: SiriusDecisions

21 Effective Dashboard Structure: Information Flow Marketing Operations KPIs and Metrics (Operate) Sales Enablement KPIs and Metrics (Enable) Demand Creation KPIs and Metrics (Create and Nurture) Reputation KPIs and Metrics (Seed) Executive Summary SiriusPerspective: The best reports and dashboards select the right measures by audience, then show and tell the story clearly. 21 Source: SiriusDecisions

22 Where We’re Headed: Marketing Influence and ROI 22 SiriusPerspective: To reflect changes in marketing’s charter, its measurement will take a broader look at investment and results. Source: SiriusDecisions

23 Marketing Influence: What to Track SiriusPerspective: Measuring overall marketing influence relies on associating tactics with contacts and opportunities Results Buying Cycle Presence Response Participation Response Database Growth % of Pipeline Touched Marketing Tactic Cadence for closed deals # of touches Sales Cycle Length Sales Phase Duration Revenue Cost per Lead ASP/Deal Size 23 Source: SiriusDecisions *for marketing touched deals

24 Summary Today Review metrics and KPIs to be sure they’re the right ones Make sure dashboard is logically organized Set goals for updated measurement In Three Months Map marketing tactics to the buyer’s journey, including the parts where sales is involved Monitor impact In Twelve Months Use full year of new metrics to benchmark progress Revisit allocation of marketing focus to reflect sources of impact Source: SiriusDecisions 24

25 Page 25 Contact Us Megan Heuer, Service Director Marketing Operations Strategies (203) 665-4022 Follow Megan and SiriusDecisions: © 2010 Marketo, Inc.

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