Measuring the Effectiveness of Your B2B Marketing Efforts

AMA B2B SIG

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Agenda:• Introductions

• Marketing Technologies:

• Key Players

• The Platforms

• What's Important to Measure

• Common Issues/Breakpoints

• Use Cases: Sample Dashboards

• Key Takeaways and Questions

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Introductions:Kyle ChandlerDirector of Marketing Services @ProjectChandler

Alex GregerSr. Demand Gen Technologist @AlexMGreger

Marketing Technologies: Key Players4

Players: What is What?The key goal in B2B marketing is proving what your marketing efforts produce in revenue, AKA your return on investment. With so many players in the game, it is often very hard to determine this number without a very precise set of tools. These include:

• Advertising Technology (Ad Tech)

• Marketing Automation (MA)

• Customer Relationship Management (CRM)

• Reporting Platforms (Analytics)

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Players: What is What?

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Marketing Automation (MA) is a platform leveraged by marketing teams to manage early funnel leads and prospective customers. This system allows for easy management of marketing programs, lead nurturing and marketing analytics.

Advertising Technology (Ad Tech) is a platform leveraged by marketing teams to manage paid efforts such as paid search, display campaigns, or paid social posts. This system allows for easy management of inbound campaigns, keyword optimization and marketing analytics.

Players: What is What?

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Reporting Platform (Analytics) is a platform leveraged by marketing, sales and executive teams to manage reporting on marketing efforts. This system allows for report building and easy analysis of marketing data to provide clear trends.

Customer Relationship Management (CRM) is a platform leveraged by sales and executive teams to manage their prospective customers’ and current customers’ data. This system allows for full reporting on business profitability and the ability to tie it back to individual customers and opportunities.

Players: What is What?

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Marketing Technologies: The Platforms

Platforms: What Does What?Advertising Technology (Ad Tech) Platforms

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WordStreamPaid Search and Social Media, niche player for mid to SMB

AcquisioPaid Search, Channel and Social Media, mid to enterprise

RocketFuelProgrammatic Display and Premium Media, mid to enterprise

DoubleClick (Google)Holistic Programmatic Display and Search Media, industry leader

Platforms: What Does What?

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(Marketing Hubs) Gartner Magic Quadrant Platforms Evaluation: 2016

Platforms: What Does What?Marketing Automation (MA) Platforms

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MarketoIndustry leader, ease of use, mid to enterprise

HubSpotIndustry leader, ease of use, common in SMB

Act-OnNiche player, technology-focused, low cost, SMB to enterprise

Pardot (Salesforce)Key player, technology-focused, SMB to enterprise

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(MA) Gartner Magic Quadrant Platforms Evaluation: 2015

Platforms: What Does What?

Platforms: What Does What?Client Relationship Management (CRM) Platforms

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SalesforceIndustry leader, ease of use, SMB to enterprise

Microsoft DynamicsKey player, customized solutions, enterprise

Sugar CRMNiche player, open source platform, common in SMB

HubSpot CRMNew to market, targeted for small business, “one vendor” approach

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(CRM) Gartner Magic Quadrant Platforms Evaluation: 2015

Platforms: What Does What?

Platforms: What Does What?Reporting (Analytics) Platforms

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Google AnalyticsIndustry leader, ease of use, SMB to enterprise

KissMetricsCombines web analytics and user engagement, SMB

KlipfolioHolistic data integrator, interactive online dashboards, SMB to enterprise

Hot JarUser engagement, heat maps, video recordings, SMB to enterprise

Platforms: What Does What?

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(Digital Analytics) Gartner Magic Quadrant Platforms Evaluation: 2016

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What’s Important to Measure

What’s Important to Measure

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What is important to track and measure for your marketing teams?

There are many metrics that can be reported on when looking at a business’s marketing initiatives. It’s tempting to think because some metric looks good, it should be reported on, or the more metrics, the better the report. The truth is, the key to actionable metrics is having as few as possible. 

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Vanity metrics are mainly used by the marketing team for campaign and email optimization. These do not necessarily show true ROI as most of them are metrics around the ad and email performance. These should be used when determining optimizations of specific ads, emails and posts from a tactical perspective.

Key performance indicators (KPI) are metrics that are true indications of program performance and help define business decisions. These are actionable metrics marketing uses to share with directors and c-level colleagues to show campaign performance, ROI on efforts, and to help gain more influence at the revenue table.

Metrics: Vanity vs KPI

Metrics: Vanity vs KPI

Sample Vanity Metrics

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Sample KPI Metrics

• Impressions• Time on site• Open rate• Page views• Click-through rate• Bounce rate• Delivery rate

• ROI• Opportunities/Revenue• Cost per acquisition• Conversion rate• Lead quality• Funnel stage per

channel• Stage velocity

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Common Issues/Breakpoints

Common Issues/BreakpointsSales and Marketing Alignment - Not Disagreement!

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Common Issues/BreakpointsSales and Marketing Alignment

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1. The most important aspect of leveraging MA and CRM platforms is ensuring both the marketing and sales teams are aligned on the stages, definitions and processes.

2. The biggest area to focus on is not only the hand-off of a lead from marketing to sales BUT also when a lead is sent from sales back to marketing.

3. You also want to define measurements of lead quality to allow a common language between both teams. This is commonly done through a lead score model.

4. This process is know as a service level agreement (SLA).

Marketing

Sales

Common Issues/BreakpointsSales and Marketing Alignment

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What to document in your SLA:

• Marketing Stages• Sales Stages• Automated Transition Steps• Manual Transition Steps• Example Use Cases

Common Issues/BreakpointsSales and Marketing Alignment

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Use Cases: Sample Dashboards

Use Cases: Reporting DashboardsVanity Metrics: Ad Metrics

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Use Cases: Reporting DashboardsVanity Metrics: Nurture Metrics

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Use Cases: Reporting Dashboards

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KPI Metrics: Revenue through to Tactics

Key Takeaways

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Key Takeaways:1. Begin with the end in mind. Decide with your marketing and sales team what

metrics are most important to your business and determine what needs to be set in place to easily report on them.

2. Create a common glossary to be used within your company to allow you to speak the same language and understand key metrics.

3. Lock down your data input fields up front to help set standards for data normalization. This goes a long way for reporting long-term.

4. Define a formal SLA, make sure it is crystal clear what is expected from each team so everyone is held accountable.

5. Reporting isn’t done just once. Your data should be analyzed across the full funnel on a continual basis to ensure ongoing optimizations are being made.

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