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The MarTech Digest
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Features of marketing automation reporting and how it measures marketing ROI more effectively than CRM reporting. Key excerpt... Already have CRM reporting? That’s great, but you may not be getting the marketing numbers you need. Consider the following 4 reasons from Prashant Kaw of Opfocus for using marketing automation reporting over CRM reporting for the measurement of marketing ROI:
Marteq's insight:
The salient point: marketing metrics from CRM will not provide the B2B marketer with the data they need to appropriately measure the complete contribution made by each marketing dollar. If you're using SFDC to deliver marketing metrics/ROI, you may be leaving money on the table.
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Excerpt... But your organization that is accustomed to measuring marketing by the value it delivers (in qualified leads or ultimate sales) versus the investment you made. Is your entire organization, not just the marketing department, ready to change how you measure marketing? Usually, the near term answer is no. Changing how marketing is measured is a significant change and is, at its heart, a change management issue. For example, these are just a few of the areas it will impact:
It is a complex sale, but most B2B companies will continue to use their simple measurement.
Marteq's insight:
Attribution! You have the tools: use them! See the post for a few recommendations.
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Excerpt... In our study, we found that companies who have implemented a marketing automation solution (a proxy for a more managed process) reported significantly higher levels of collaboration between sales and marketing, across a number of different dimensions.
The marketing automation adopters had a 13% collaboration advantage (54% to 41%) in defining and executing field programs. This makes sense. The ability to track the revenue impact of marketing programs can finally put an end to spirited debates over “trade show vs. tele-prospecting” and “white paper syndication vs. golf-outing.”
Fifty-seven percent of the marketing automation adopters reported strong collaboration in capturing insight from customers and prospects, compared to 41% of those who are not automated. By providing insight into the prospect’s behavior and experience across all channels (website, campaigns and social) your sales force can have better conversations, engage in a meaningful way, and close more deals, faster.
Administering Leads and Lead Pipelines posted a positive collaborative advantage of 12 percent. Just as you suspected, there is a better tool than Excel to distribute and manage the follow-up on tradeshow leads!
Marteq's insight:
Make no mistake: MARKETING AUTOMATION FORCES ALIGNMENT, COMMUNICATION AND ATTTRIBUTION. It's damn near impossible not to benefit from MA in this fashion. The aforementioned is a snippet to the whole post, and we encourage you to click through.
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Digital marketing channels have been viewed as better than traditional media for their measurability, but new research from Econsultancy and Responsys suggests that marketers are having a harder time measuring their ROI from digital channels. Among company marketers surveyed – primarily from the UK (46%) and other European countries (19%) – just 50% rated their understanding of ROI from digital marketing channels as “good” (33%) or “very good” (17%), down from 55% last year. By contrast, the proportion rating their understanding as “okay” or “poor” rose from 42% to 48%. The remaining 2% this year rated their understanding as “very poor.”
Marteq's insight:
Honestly, how is it that so many companies are having issues measuring the ROI from digital channels? The essence of digital is measurability. Our guess is that it has everything to do with marketing attribution. If you're thinking about marketing automation, don't forget: tag 'n track!
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If you strongly interested in deploying a solution around marketing attribution, you'll want to read this article, and as a companion piece, go to the CRISP-DM description (linked below). Here's a summary: To address analytical problems I'm quite a big fan of the CRISP-DM process. Although originally designed specifically for data-mining projects, I think it encourages good discipline and business process around any analytical problem. I thought it would be interesting to apply it to the marketing attribution problem. The process is made up of six stages:
Marteq's insight:
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![The 6 Marketing Metrics Your CEO Actually Cares About [Cheat Sheet] | The MarTech Digest | Scoop.it](https://img.scoop.it/7qxVTHfSiJuD4Z4te4QS-vL6dadsvGA8m9WNoVsbzkY=)
Read through the important metrics any marketer should be able to present to their CEO.
Marteq's insight:
See the article at blog.hubspot.com. Receive a daily summary of The Marketing Automation Alert directly to your inbox. Subscribe here (your privacy is protected). If you like this scoop, please share by using the links below.
iNeoMarketing merges marketing automation with content marketing for a powerful lead management solution, configured and managed by our knowledgeable, experienced staff. Contact us.
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The intangible benefits of social media are the enemy of actionable metrics. So what to measure?...
Here are four of the most important metrics you can follow — notice how little they have to do with popular social-media metrics: -->Relevant revenue. Note the word "relevant," which refers to recurring sales in your core business. Don't count revenue from one-time or stagnant sources. -->Sales volume. This can be a number like units sold or active subscriptions, something that shows whether or not enough people want to buy what you're selling. -->Customer retention. Metrics like "new customers" can hide the fact that although you may attract 1,000 new users a month, you're losing 900, which means you're not going to scale. -->Relevant growth. Too often, companies compound the stupidity of their choice of metrics by creating a metric tracking the growth of vanity metrics. You should be looking for a traceable pattern in which the actions of your existing customers create new customers. That's what Ries calls an "engine of growth." These metrics are valuable because they measure success at your core business. To measure the value of your social-media activities, you have to look at the results the company is getting overall and track how social media was involved in moving the needle. That's where you'll find the only relevant social-media metrics.
Marteq's insight:
See the article at blogs.hbr.org. Receive a daily summary of The Marketing Automation Alert directly to your inbox. Subscribe here (your privacy is protected). If you like this scoop, please share by using the links below.
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Attribution modeling is a hot topic in the SEO industry, but many of us aren't doing it as well as we want to be. Here's an excerpt of the issues, and the author promotes solutions.
Attribution modeling is very hard to do well for a lot of reasons: -Any site to which users return daily (like, for example, SEOmoz.org) quickly fills up with touches that may or may not be related to conversions. -Channels like social media and community building are often a first touch but rarely the only touch before conversion, meaning they tend to get less credit than they deserve. -Attributing offline sales to online efforts can be very painful, not to mention tracking one user’s conversion path as she uses multiple devices during her buying decision. -In our post-Panda world, we’re spending a ton of time and effort on content that may end up on third party sites, opening us up to the near-impossible task of tracking view-through conversions.
Marteq's insight:
See the article at www.seomoz.org. Receive a daily summary of The Marketing Automation Alert directly to your inbox. Subscribe here (your privacy is protected). If you like this scoop, please share by using the links below.
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The benefits and functionality of marketing automation software are vast. For a marketing leader considering an MA solution, here are three:
Don’t run out the door and buy a marketing automation solution just yet. Like the CRM-craze before, many companies rush out and drop a lot of cash on MA, justified by promises of huge bumps in productivity and revenue. If you like this scoop, please RT, Post, Share. More scoops like this at http://www.scoop.it/t/the-marketing-automation-report
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There is very little excuse (other than it is hard to do and takes work) for digital marketing not to be business-performance-obsessed. The fact is, way too many marketers may no longer be counting HITS, but they are still measuring with that philosophy. By the way, HITS stands for "How Idiots Track Success."
Marketing measurement should never be about how many views, likes, +1s, retweets, shares, etc. you have. All marketing efforts, and especially digital marketing efforts and their metrics, should flow directly and intelligently into the C-suite's financial statements. That is, if we want to stay relevant to what matters to the CEO and CFO.
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![Making sense of marketing attribution [infographic] | The MarTech Digest | Scoop.it](https://img.scoop.it/V0Yl9fO0R52jq4fvkEVamfL6dadsvGA8m9WNoVsbzkY=)
Only 54% of companies are using any form of marketing attribution, though 89% of those that do report that it is had a postive effect on their business.
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Almost half (46%) of businesses don’t carry out any type of marketing attribution. See the Scoop below for more information.
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Please click through for details behind the description to each.