9 measurement tips to improve your relationship with your cmo, jon russo – founder, b2b fusion...
TRANSCRIPT
9 MEASUREMENT TIPSTO IMPROVE YOUR CMO RELATIONSHIP
WHAT IS YOUR BIGGESTCHALLENGE MEASURING MARKETING IMPACT?
2
3
4
1 Data Quality: We have incomplete, inaccurate, or missing data that impacts KPIs – or makes measurement impossible
Alignment: Our sales and marketing nomenclature is not defined, agreed upon, documented, or consistently used
Tools: We have marketing automation & CRM, but measure in Excel … and the Excel reporting is not credible internally!
Process: We 'Set and Forget' our reporting and processes, hoping for accuracy
POLL
Elevate the thinking around KPIs, ROI, and metrics from executive viewpoint
FROM TODAY’S PRESENTATIONKEY TAKEAWAYS
Aspire to measure the business, not justify marketing’s existence
Think more about data as the single fundamental ingredient of measurement success
RELEVANT DASHBOARD EXPERIENCE
IMPROVE PERFORMANCEHow do we track, trend, and
improve our sales & marketing close performance?
SALESHow can we optimize CRM processes & data
quality to improve sales productivity?
MARKETINGHow do we generate
more sales ready leads and track our
Marketing ROI business impact?
MEASURING MARKETING ROI
WHAT OUR CLIENTS SAY…
Corey LivingstonSr. Director, Marketing.Level (3) Communications
B2B Fusion transformed our lead generation practices and with Full Circle, provided me credible dashboard reporting to use with my CMO and others in the organization. Now I can finally report on marketing impact to the business. I recommend B2B Fusion without reservation.
WHAT OUR CLIENTS SAY
Toby Lee,CMOThomson ReutersTax and Accounting
B2B Fusion transformed our lead generation practices and provided me credibledashboard reporting to use in 4 business units in 3 global geographies. I recommend B2B Fusion without reservation.
WHAT OUR CLIENTS SAY
INDUSTRY CHALLENGE
2 in 3 US CMOs are feeling pressure from executives or board to prove marketing’s value
A Surprisingly Difficult Industry ChallengeMEASURING MARKETING ROI
45% of CMOs expressed confidence that they know which metrics or business outcomes their key stakeholders care about
9% of enterprises achieved accurate and credible marketing impact reporting.
IBM 2011, N=1733, The CMO Survey 2013, N=410, Forrester 2013, N=179, Aberdeen 2014, N=250, 2014 Duke University CMO Survey, N=351
1BENCHMARK
YOUR ANALYTICS (AND LEAD GEN)
MATURITY
2CREDIBILITY:
AVOID STARTING WITH “DISPLAY
AND PRAY”
TIP #2 – CREDIBILITY - AVOID STARTING WITH “DISPLAY AND PRAY”
3ADAPT (DON’T ADOPT)
FRAMEWORKS, EXECUTE FLAWLESSLY
NurtureFunnel Width = Quality + Quantity of Leads
LEAD GENERATEDINSIDE SALES
Efficiency = Processes & Speedfrom Inquiry to Close
TIP #3- ADAPT (DON’T ADOPT) FRAMEWORKS, EXECUTE FLAWLESSLY
SALES ACCEPTED LEAD
LEAD GENERATED QUALIFIED LEAD
SALES QUALIIFIED OPPORTUNITY
CUSTOMERS
MARKETING QUALIFIED LEAD
INQUIRIES
ALL NAMES
MARKETING
SALES
4CREATE A
MARKETING FORECAST
2
3
4
1 TIES MARKETING TO SALES = REVENUE BASED GOALS
CREATES URGENCY AROUND POORLY PERFORMING AREAS
PUTS MARKETING PERFORMANCE ON MAIN STREET
BENEFITSTIP #4 - CREATE A MARKETING FORECAST
TIP #4 - CREATE A MARKETING FORECAST
5DON’T PRESENT
JUST MARKETING. COMPARE & INTERPRET.
TIP #5 - DON’T PRESENT JUST MARKETING. COMPARE & INTERPRET.
6CREATE A
GAMEPLANAROUND DATA
PATHOGENS
Inaccuracy Duplication Incomplete Records
Incomplete DatabasesMis-targeting Mis-matched databases
The 6 data pathogens …TIP #6 – CREATE A DATA GAMEPLAN AROUND 6 DATA PATHOGENS
JohnSmith
JohnSmith
7TRANSLATE DATA
INTO C-SUITE LANGUAGE AS
MARKETING ROI TIES TO DATA
QUALITY
25% OF A FIELD SALES REP’S SELLING TIME IS WASTED WITH INCORRECT DATA
POOR DATA INHIBITS REVENUE PRODUCTIVITY
30% OF SALES REP’S OVERALL TIME IS SPENT ON RESEARCH
HIGH QUALITY DATA CORRELATES TO 39% MORE CLOSES & 66% MORE REVENUE
TIP #7 - TRANSLATE DATA INTO C-SUITE LANGUAGE AS MARKETING ROI TIES TO DATA QUALITY
Integrate2015, Gartner 2013, IDC 2013, Alinean 2013, Discover.org 2013, Data.com
30
TIP #7 - TRANSLATE DATA INTO C-SUITE LANGUAGE AS MARKETING ROI TIES TO DATA QUALITY
8MAINTAIN CAMPAIGN
CONTINUITY – AND CREDIBILITY – THROUGH
DATA STEWARDSHIP
Jane Doe
Tip #8. Maintain campaign continuity and credibility through data stewardship
32
John Smith
Converted Lead...
John Smith
Webform
WebinarReg
Jane Doe
Tradeshow
Unconverted/unmerged duplicate lead…
Campaigns ARE brought to contact
Trial
Campaign NOT brought to contact
Campaigns brought to opportunity by contact roles if campaign attached to contact
Acme, Inc.
Opportunity
Webform
Trial
Missing Tradeshow
Missing Webinar Reg
Missing campaign influence on opps due to unconverted duplicates
Most recent campaign gets ALL the creditDuplication/hygiene exacerbates:• Contact/account already
existed – didn’t catch them• Real lead source obscured• All other campaigns get no
credit
Jane Doe
John Smith
Webform
Trial
9ASK RELEVANT
QUESTIONS
ASKRELEVANT
QUESTIONSWhich questions do you
know would equal business impact?
HOW DO I GET A SINGLE VERSION OF THE REPORTING TRUTH?
HOW DO WE REPORT ACROSS LEADS AND CONTACTS?
HOW DO WE KNOW WHAT OUR TARGET MARKET UNIVERSE
CONTAINS?
HOW DO WE GET SALES TO HONOR OUR SLA?
HOW DO WE CLEANSE OUR DATA WITHOUT BREAKING ANYTHING?
HOW DO WE CREATE A RELIABLE REPORTING STRUCTURE?
HOW DO WE STOP BREAKING CAMPAIGN VISIBILITY BETWEEN NAME AND CLOSE?
HOW DO WE TRUST HOW OUR MARKETERS MEASUREMENT OF
THEIR OWN CAMPAIGN RESULTS?
TIP #9 – ASK BUSINESS-RELEVANT QUESTIONS
ELEVATE THE THINKING AROUND KPIS, ROI, AND METRICS FROM EXECUTIVE VIEWPOINT
CONCLUSION
ASPIRE TO MEASURE THE BUSINESS, NOT JUSTIFY MARKETING’S EXISTENCE
THINK MORE ABOUT DATA AS THE SINGLE FUNDAMENTAL INGREDIENT OF MEASUREMENT SUCCESS
Inaccuracy Duplication Incomplete Records
Incomplete DatabasesMis-targeting Mis-matched databases
The 6 data pathogens …IF INTERESTED – A WHITE PAPER ON DATA MANAGEMENT FOR EXECUTIVES
JohnSmith
JohnSmith
SAMPLE OF CUSTOMERS & KEY MENTIONS
