Data-Driven Marketing Metrics Minded

Post on 22-Nov-2014

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It’s a fact: data-driven marketing metrics can help you answer the critical marketing questions that once baffled marketers. When you confidently know the answers, you’re not likely to quickly gain the support you need for your data-driven marketing ventures. Go ahead, test your marketing knowledge to see how well you know the answers to the most critical marketing questions. Make your data-driven marketing your go to survival toolL http://bit.ly/14HXC2D

Transcript of Data-Driven Marketing Metrics Minded

We live in the age of the confident consumer. With over 60% of the purchase cycle occurring outside of established sales channels, data- driven metrics and marketing analytic tools are no longer luxury items; they're survival tools. Chances are you've got the

data. Give it meaning: tie channel performance to bottom-line profits with data-driven marketing knowledge.

The Most Critical Marketing Questions Revealed!

Question:

What is my department’s contribution to revenue

by channel?

Take Note: When you have visibility into the entry and exit points for all of your leads throughout the key stages of campaigns, you can identify areas where your efforts are paying off and areas requiring improvement and further management.

Take Action!

Don’t be noncommittal. Set your commitments to sales and stick to it. State what your percentage to sales will be for the quarter and make certain that

every marketing activity and campaign will help you achieve your goal.

Question:

How can I tie lead scores to

revenue?

Take Note: Is a ‘Contact Me’ worth more to you than a webinar registration? Data-driven marketing will tell you. When you’re armed with this insight, you’re guaranteed to always win deals and understand the time and effort it takes to win those deals.

Take Action!

Do not start scoring demographics, activities, or behaviors until marketing and sales have agreed on the definitions of a qualified lead. Working with sales will help build the next steps for each qualified lead. They will have insights that you have not considered.

Question:

How are my leads moving through the funnel and

at what velocity?

Take Note: Data-driven marketing solutions clearly illustrate the path prospects follow on their way to becoming opportunities. They help you predict prospects’ behavior so you can influence that behavior at various stages of a campaign.

Take Action!

Know when to fold and know when to walk away. Not every campaign is going to be an ongoing

success. Set your campaign benchmarks and act accordingly.

Question:

How can I use this data to replicate my success?

Take Note: When you have a comprehensive view of your data, you can pinpoint the number of leads required to achieve sales goals and know which lead source is most likely to help you reach those goals. You can also optimize your marketing budget and prioritize tasks while strategizing for more success. Once you build a history of activity, you can use the metrics from prior quarters to better rationalize your predictions.

Take Action!

Optimize your marketing budget by building out a history of activity. You can use the metrics from prior

quarters to better rationalize your predictions and prioritize task while strategizing for more success.

Question:

What is the precise ROI

of each campaign?

Take Note: It is not enough to know how many leads resulted from a particular campaign; you need to know how much ROI is generated from each campaign. The ability to closely track leads from their source to the sale helps to accurately identify successful marketing efforts. When it’s easy to review both the best and worst campaign performances, you can continue investing in what works and promptly retire the poor performers.

Take Action!

Not all marketing campaigns are created equal. Be aware that certain campaigns will generate greater conversions and ROI, while

other campaigns will be centered around engagement or brand awareness.

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