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The Definitive Guide to Marketing Metrics Webinar
- 1. The Definitive Guide to Marketing Metrics: Webinar Jon Miller, VP Marketing and Co-Founder Author of the Definitive Guide #dg2mm
- 2. Topics • Building Marketing • Marketing Program Credibility Performance • The Right Metrics • Forecasting • Revenue Metrics • Dashboards Page 2 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 3. What Profits Can Be Generated With 10% More Budget? 12% Improve profits by more than 20% Improve profits by 10% to 20% 20% 44% Improve profits up to 10% No major change in profits generated 15% Don't Know 9% #1 Answer: Don’t Know Source: 2010 Lenskold Group / emedia Lead Generation Marketing ROI Study Page 3 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 4. Part 2: Planning for Marketing ROI #dg2mm
- 5. Planning for Marketing Measurement Measure ROI to find not just what works, but what works better. Establish Goals and ROI Estimates Up-Front Design Programs to Be Measurable Focus on the Decisions that Improve ROI Source: Lenskold Group Page 5 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 6. Part 3: The Right Metrics #dg2mm
- 7. Where Metrics Go Wrong Vanity Metrics Sound good and impress people, but don’t measure impact on revenue or profitability Page 7 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 8. Where Metrics Go Wrong Activity Metrics Measure what you do instead of what results and impact you have Page 8 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 9. Where Metrics Go Wrong Cost Metrics Frame marketing in terms of cost and spending instead of results and outcomes Page 9 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 10. The Right Metrics Revenue Aggregate impact on Metrics company revenue Marketing Incremental contribution Program and ROI of individual Performance marketing programs Other Metrics Areas (less tied to Revenue/Finance) Customer Profitability, Net Promoter, Web Analytics, Public Relations Effectiveness, Product Performance, Brand Preference and Health, Sales Tool Usage Page 10 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 11. The Right Metrics Performance Metrics & Past: How did we do? KPIs Present: What is working? Diagnostics How can we do better? Leading Future: How will we be Indicators doing? Page 11 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 13. Key Idea: Model the Revenue Cycle MQL AWARENESS SAL Prospect & All Names Recycled SQL Engaged Sales Lead Lead Opportunity Customer Nurturing Database Marketing SDR Sales Page 13 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 14. Marketo’s Revenue Cycle MQL AWARENESS SAL Prospect & All Names Recycled SQL Engaged Sales Lead Lead Opportunity Customer Nurturing Database Names are just names. Marketing SDR Sales Page 14 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 15. Marketo’s Revenue Cycle MQL AWARENESS SAL Prospect & All Names Recycled SQL Engaged Sales Lead Lead Opportunity Customer Nurturing Database Meaningful interaction with us. Marketing SDR Sales Page 15 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 16. Marketo’s Revenue Cycle MQL AWARENESS SAL Prospect & All Names Recycled SQL Engaged Sales Lead Lead Opportunity Customer Nurturing Database Qualified, engaged potential buyers. Marketing SDR Sales Page 16 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 17. Marketo’s Revenue Cycle MQL AWARENESS SAL Prospect & All Names Recycled SQL Engaged Sales Lead Lead Opportunity Customer Nurturing Showing Database buying signs or significant engagement. Marketing SDR Sales Page 17 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 18. Marketo’s Revenue Cycle MQL AWARENESS SAL Prospect & All Names Recycled SQL Engaged Sales Lead Lead Opportunity Customer Nurturing Database Qualified as sales-ready by a human. Marketing SDR Sales Page 18 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 19. Marketo’s Revenue Cycle MQL AWARENESS SAL Prospect & All Names Recycled SQL Engaged Sales Lead Lead Opportunity Customer Nurturing Database Accepted and actively worked by sales Marketing SDR Sales Page 19 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 20. Model the Full Revenue Cycle Screenshot: Marketo Revenue Cycle Analytics Page 20 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 21. Key topic areas: • Balance • Flow • Conversion • Velocity Trends over time Filter/Drill into data, e.g. by Program Type, Business Unit, Geography, etc. SLA violations Page 21 #dg2mm Screenshot: Marketo Revenue Cycle Analytics Proprietary and Confidential © 2011 Marketo, Inc. Marketo
- 22. Marketo Revenue Cycle Metrics New Customers 80% of all deals ($5,800) • Lead to Sales Lead: 7% follow this model • Sales Lead to Opp: 80% • 1.4 people per Opp Opportunities 1,000 Leads = 40 Opps Lead Type Variants 130 / mo • Source ($2,000) • Channel • Division Leads • Size 2,000 / mo ($137.50) 4.0% / month 75% 9,500 / mo 20% Paid Names Prospects Active Prospect ($29.33) 3,800 / mo Database 40% ¾ paid ($73) Unpaid ¼ unpaid ($0) 80% Names ($55 average) 10% Inactive ($0) (Last 6 Months) Page 22 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 23. Drill In Analytics Prospect to Lead by Lead Source Screenshot: Marketo Revenue Cycle Analytics Page 23 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 24. The Single Most Important Metric Revenue Engine Effectiveness Page 24 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 25. Part 5: Marketing Program Performance #dg2mm
- 26. Why Measuring Programs is Hard • Multiple touches. Seven touches needed to convert a cold lead into a sale • Multiple influencers. Typical buying committee has 5-21 people • Tyranny of time. The money you invest today will have an uncertain impact at an uncertain point in the future Page 26 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 27. Ways that Companies Measure • 20%: No tracking • 45%: Single Attribution • 21%: Attribute Across Multiple Programs and People • 11%: Test and Control Groups • 3%: Market Mix Modeling Source: 2010 Lenskold Group / emedia Lead Generation Marketing ROI Study Page 27 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 28. Example: Single Attribution 100% of pipeline and revenue Screenshot: Marketo Revenue Cycle Analytics allocation to the program that sourced the primary contact Page 28 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 29. Single Attribution: First / Last Touch Pros Cons • Relatively easy and low • Ignores influence of cost subsequent nurturing / • Insight into the lead sales touches acquisition • Hard to account for • Straightforward insight quality until deal closes into “investment per” lead metrics Page 29 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 30. Single Attribution W/Revenue Projection Source Prospects Invest- % Velocity Lead to Opp ment Lead (Days) Index Trade Show – Virtual 3,793 $25.44 17% 81 1.0 3rd Party Email Blast 3,302 $34.65 18% 43 0.5 Trade Show 2,703 $221.30 23% 61 1.9 Paid Webinar 1,760 $68.50 21% 60 1.0 PPC 990 $158.10 45% 42 1.4 Content Syndication 536 $82.84 12% 59 0.3 Other Paid 208 $187.50 13% 93 1.3 Website 2,871 58% 27 2.6 Sales Prospecting 1,888 26% 46 2.2 Partner Co-Marketing 903 17% 102 1.1 AppExchange 353 78% 37 3.4 Referral 80 36% 12 1.0 Other Inbound 370 100% 19 9.0 Page 30 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 31. Example: Attribute across Multiple Programs and People? A deal worth $100,000 recently closed. Three people were involved in the deal: • Person A attended Seminar A and Trade Show B • Person B attended Trade Show B • Person C was sent Direct Mail C $100,000 Revenue $25,000 $25,000 $25,000 $25,000 Seminar A Tradeshow B Direct Mail C $25,000 $50,000 $25,000 Page 31 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 32. Need to Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics Page 32 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 33. Programs Analyzer First-touch allocation, multi-touch allocation, investment, volume, etc Screenshot: Marketo Revenue Cycle Analytics Page 33 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 34. Attribute across Multiple Programs and People Pros Cons • Incorporates all touches, • Assumptions can add not just lead generation bias • Useful for long revenue • Risk of over-crediting cycles low impact touch points • Focuses on all contacts associated with deal Page 34 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 35. Example: Test and Control Source: Lenskold Group Page 35 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 36. Part 6: Marketing Forecasting #dg2mm
- 37. Introducing Marketing Forecasts • Where the CSO lacks “bottom-up” visibility, marketing forecasts can fill the void • Marketing has long- term view and visibility into the early stages of the revenue cycle Traditional Marketing Forecast Highly Accountable Marketing Forecast The market will grow by an estimated Marketing will generate an incremental 4.2% overall and by 5.1% in the Western 30 new deals worth $4.0 million of region. bookings that are not currently in the sales forecast. Page 37 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 38. Forecasting Conversion Over Time • Predict conversions from one stage to another over time • One model per transition per lead type • Create plans / forecasts about future Marginal Conversion Cumulative Conversion 70 2,000 60 1,800 y = 50.749x-0.571 1,600 50 R² = 0.4301 1,400 y = 994.2x0.1352 40 1,200 R² = 0.9551 1,000 30 800 20 600 400 10 200 0 - 3 13 23 33 43 53 63 73 3 13 23 33 43 53 63 73 Page 38 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 39. Final Demand Generation Forecast 1/1: Modified Lead definition to include all SDR activity Plan Forecast Actual Page 39 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 41. Dashboard Provide Clear, Consistent Insights Metrics vs. Goals Select Details Trends Alerts Page 41 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 42. Key Takeaways • Buying has changed forever – the role of marketing must change as well • Reporting is less important than DECISIONS that improve ROI • Focus on financial metrics that matter to the CFO (profit, cash, revenue) • Avoid cost and spend metrics – focus on investment and return • A trusted marketing forecast is the single most important step to make marketing a revenue driver, not a cost center Page 42 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 43. Additional Resources • The Definitive Guide to Lead Nurturing bit.ly/DGtoLN • The Definitive Guide to Lead Scoring bit.ly/DGtoLS • Marketo Demo www.marketo.com/demo Page 43 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 44. Question and Answer JON MILLER Marketo, Inc. VP Marketing 901 Mariners Island Suite 200 jon@marketo.com San Mateo, CA 94404 @jonmiller2 Phone: +1.650.376-2300 blog.marketo.com www.marketo.com Marketing Forecasting Whitepaper http://bit.ly/marketing-forecasting Page 44 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 45. Thank you!
- 46. Marketo is the leading Revenue Performance Management Solution • Powerful and easy marketing automation, lead nurturing, and lead scoring • Cloud-based solutions that help companies • Expand lead flow • Increase sales effectiveness • Optimize sales and marketing investments • >1,200 customers; 315% YOY growth Salesforce - Best Best Marketing and Who’s Who in BtoB Best Marketing Solution Marketing Automation Sales 2.0 Solution Page 46 #dg2mm © 2011 Marketo, Inc. Marketo Proprietary and Confidential