david raab - why analytics is finally the next big thing in b2b marketing
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Why Analytics is (Finally) The Next Big Thing
in B2B Marketing
David M. RaabLeftbrain DGAJune 26, 2012
Good news…bad news
Spending on marketing analytics to increase 60% in three years
Lenskold Group: slow increase in use of ROI Metrics
Forrester: 1.2% increase in 2012 budget customer and market intelligence
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Non-Revenue Metrics that Matter
benchmarks projections operations exceptions testing strategic goals
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Twin Challenges of Analytics
assemble data analyze data
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Data Assembly Challenges
getting the right data• multiple sources• storing adequate volume• filtering for relevant detail
cleansing and transforms• converting to structured• integrating across sources• standardizing & removing
errors• attaching attributes• formatting for analysis
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Data Analysis Challenges
general• uncovering relationships• changes over time• mastering new tools
B2B-specific• program effectiveness• content effectiveness• funnel analysis• testing• media mix & other
optimization© Left Brain Marketing Inc. All Rights Reserved
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Solutions
data assembly• prebuilt connectors & tools• standard schemas• analytical databases• quality monitoring of inputs• production monitoring of
process
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Solutions
data analysis• standard reports• exception & variance reports• compare vs. goals & past
results• key performance indicators• forecasts & projections• ad hoc capabilities
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Solutions
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data analysis: funnel math
Prospects 1,000%
converttime in stage
Respondents 200 20% 5
Qualified Respondents 60 30% 20
Sales Ready Leads 30 50% 10
Sales Opportunities 24 80% 30
Closed-Won Deals18 75% 10
Solutions
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data analysis: revenue attribution• opportunities > leads• opportunities > accounts > leads• opportunities > companies >
leads indirect attribution
• multiple leads per opportunity• impact on pre-existing accounts• measure ‘influenced’ deals
Solutions
deployment• data capture• targets• test design• execution• assessment• continuous improvement
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More, Please Best Avg Lag
Process to test effectiveness of campaign content
Defined process to disseminate knowledge on marketing campaigns to key decision makers/stakeholders
Dedicated staff to collect and manage all campaign/resource data
Track, measure and report on all marketing campaign results
Dashboards
Marketing content / asset management
Revenue performance management
Key Performance Indicators (KPIs) are defined to track overall marketing performance
Ability to identify which marketing channels drive offline sales
Source: Aberdeen Research, Analytics for the CMO, September 2011© Left Brain Marketing Inc. All Rights Reserved
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64%42
%25%
59%40
%22%
73%64
%45%
82%57
%38%
73%64
%44%
59%35
%29%
52%43
%39%
64%45
%27%
45%25
%18%
Worth the Trouble?
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source: 2011 Lenskold Group marketing ROI & Measurement Study
64%
51%
What Next?
audit existing capabilities
define goals, prioritize, set strategy
build long-term execution plan
deploy in stages
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Recap Forest AND Trees
Twin Challenges (and Sister)
Hang in There
Plan Carefully
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Thank You
David M. [email protected]
www.leftbraindga.com
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