actionable insights and kpis for marketing analytics in 2014
DESCRIPTION
Most of us spend the entire month of January planning budgeting for the rest of the year. But have you agreed on the KPIs that will define your success? Implementing those metrics and reports may seem daunting, but it doesn’t have to be. Learn from marketing professionals from GoodData and The Pedowitz Group how you can: - Establish the top 5 KPIs that will define your success for 2014 - Identify some quick wins for your organization to start tracking progress - Prove your value and contribution to Revenue with concrete analytics!TRANSCRIPT
Actionable Insights and KPIs for Marketing Analytics in
2014
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Your Hosts
Jeff MorrisVP Product Marketing
GoodData
Kevin JoyceVP Marketing StrategyThe Pedowitz Group
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What You Will Learn
Identify some quick wins for your organization to start tracking progress
Establish the top 5 KPIs that will define your success for 2014
Prove your value and contribution to revenue with marketing attribution reports
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Strategic Partnership
Full service Revenue Marketing agency
Transforms marketing from a cost to a revenue center
Cloud based, open analytics platform
Analytics for sales, marketing and social data
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REVENUE MARKETING
DEMAND GENERATION
TRADITIONAL LEAD GENERATION
Mutually set pipeline with lead rating and scoring
Integrated CRM & automation systems
Defined funnel stages & SLAs
RM dashboard
Repeatable, Predictable, Scalable
Set pipeline goals
Share definition of a lead
Nurture Marketing
Closely monitor lead conversion metrics
Enforce SLAs
Capture Revenue Metrics in arrears
Marketing and Sales managed in silos
Marketing focused on brand building and impressions
No agreement on aligned lead definition
SLAs not implemented
Implemented Marketing automation
Focus on generating leads
Focus on cost of lead acquisition
Little to no alignment between Sales and Marketing
Revenue Minimized Revenue Maximized
MATU
RIT
Y STA
GES
Revenue Marketing Journey
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Revenue Marketing Analytics Solution
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Marketing Analytics Overview
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Why Analytics Are Important For Marketing
Expose critical KPIs & trends for predictable, repeatable, scalable success.
Volume144 BILLION emails are sent every day
VelocityBrands on Facebook receive 34,722 Likes every minute of the day
Variety The average company uses 18 different marketing technologies
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Taxonomy of Marketing Reporting
Historical Pipeline/Funnel Predictive
Increasing Brand Equity #2 #2 #4
Lead Generation #1 #1 #4
Lead Nurturing #1 #1 #4
Customer Marketing, Cross Sell, Upsell
#2 #2 #4
Content, Assets #3 #3 #4
Channel Enablement, Sales Tools
#3 #3 #4
Marketing Activities
Types Of Data
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Don’t Get Dazzled by Data
“Obstacles are those frightful things you see when you take your eyes off your goals”
Focus maniacally on what you are trying to achieve by measurement:
— Improving Marketing Effectiveness
— Increasing Revenues
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How to get started?
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Lead Sources
Define marketing sourced lead sources vs. non-marketing sourced
— Use a picklist of 20 values or less
— Re-map existing values to the picklist
— Use lead source details field for additional info
— Make it required
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Define Lead Funnel Stages and Goals
Raw
MQL SQL
Purchase Lists
Campaigns
Inquiry
Nurture
Lead Scoring & Routing
Opportunity
Not ready, nurture
Not ready, nurture Converted
Qualified
NurtureContact / Account
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Marketing Automation and CRM Best Practices
Campaign Contact Opportunity Revenue
Return on Investment
Response
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Top 5 KPIs for 2014
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KPI #1 – Marketing Sourced Revenue
Tips: — Create quarterly goals and
monitor performance
— Break out installed base vs. net new revenue
Data Types: — Total & sourced pipeline
— Total & sources dollars won
— Marketing sourced goal
— Filters: Net new vs. non
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KPI #2 – Number of MQLs and SQLs
Tips:— Define goals and benchmark
— Regional analysis
Data Types: — MQLs and SQLs
— Goals and industry benchmarks
— Filters: Custom timeframes, regional breakdown
SQLs By RegionMonthly MQL Snapshot
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KPI #3 – Lead Funnel Conversion Rates
Tips:— Utilize benchmarks and best
practices
— Analyze cohort trends for a predictive funnel
Data Types: — Total Leads created
— MQL – SWO
— Filters: No recycled leads
31,653 8,297 556 203 43
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KPI #4 – Marketing Influence Goal
Campaign Influence
Tips:— Campaigns connected to
Opportunities
— Opportunity Contact Roles
Data Types: — Multi touch pipeline
— Multi touch dollars won
— Filters: Custom time frames
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KPI #5 – Customer and Prospect Engagement
Tips:— Define engagement
— Monitor quarterly performance
Engagement by Channel
Data Types: — Leads and sources
— Campaign details
— Impressions and click through rates
— Filters: MQL time frame
Engagement by Product
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Marketing Attribution
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An Epic Love Hate Relationship
First Touch Attribution
Join us on March 25th!
Revenue Attribution Best Practices
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Questions and Comments?
Jeff MorrisVP Product Marketing
Kevin JoyceVP Marketing Strategy
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Learn More
Follow Us@revenuemarketer @gooddata
Free Revenue Marketing Analytics Trialbit.ly/GDTrial-Mktg
Get In [email protected]
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Thank you!