Webinar Deck: Stop Random Acts of Marketing Measurement

Featuring guest speaker
Allison Snow, Senior Analyst
Stop Random Acts of
Marketing Measurement
The new rules for taking action and driving impact

1© 2017 FORRESTER. REPRODUCTION PROHIBITED.
Stop Random Acts of Marketing
Measurement
FEATURING GUEST SPEAKER
ALLISON SNOW, SENIOR ANALYST
The new rules for using data to take action and drive impact
Join the conversation on Twitter
#MOpsWebinar
@Allocadia
Sam Melnick, VP Marketing
Allocadia

Measurement
We Must Focus on Both Sides of
Marketing
Marketers Must Focus on
Both Sides of Marketing

Measurement
Allocadia Helps Marketers
Run Marketing Like a Business

We work with business and
technology leaders to develop
customer-obsessed strategies
that drive growth.

AGENDA
› The Elephant In The Room: What’s Really Going On?
› The New Rules
› Mindset: Own The Performance Dialogue
› Methods: Deliver On Performance Management
› 7 Steps To Developing An Insights-Driven Performance
Management Plan

© 2018 Forrester Research, Inc. Reproduction Prohibited
The Elephant In The Room
What’s really going on?
3

Make or break challenges for CMOs
Data and analytics
talent, technology,
and process.
Superior customer
and prospect
experiences.
Interpretation,
insights, and
action engines.

Source: AdAge, November 05, 2018

In 2017, global B2B marketing decision makers
said that lacking the ability to measure results was
a top 5 marketing concern. In 2018, it was top 3.
Photo Source: Unsplash
Source: Forrester Data Global Business Technographics Marketing Survey, 2016 and 2017

Translating metrics to business impact is a challenge
Source: Anchor Sales And Marketing With Revenue Growth Analytics Forrester report..

The brief backstory
› 74% of business buyers told us they found buying from a website more
convenient, and 59% said they prefer not to interact with sales.*
› Marketers nurture prospects for weeks or months before they turn into
qualified sales opportunities, so it is critical to know how marketing
performs at interim stages.
› This nurturing takes place over many channels, and channel
proliferation creates massive amounts of information.
› Concerns about results and efficiency heighten demand for
accountability.
*Source: Scale Your B2B Customer Obsession With A Go-To-Customer Strategy Forrester report
MARKETING NOW OWNS MOST OF THE BUYING CYCLE

© 2018 Forrester Research, Inc. Reproduction Prohibited 9© 2018 Forrester Research, Inc. Reproduction Prohibited
So, what are we “managing to”
again?

10© 2018 Forrester Research, Inc. Reproduction Prohibited
Expectations, as always.

11© 2018 Forrester Research, Inc. Reproduction Prohibited
But, whose?

12© 2016 Forrester Research, Inc. Reproduction ProhibitedPhoto Source: Unsplash
Executives

13© 2019 FORRESTER. REPRODUCTION PROHIBITED.Photo Source: Unsplash
Sales

Customers

Digital transformation

61% of B2B marketers indicate that “lack of defined
metrics to measure success” will be a major or
moderate challenge over the next 12 months.

We need to…
evaluate, upgrade,
and gaps in our
martech stack.
We need to… pilot
cross-functional teams
based on industry
segments.
We need to… align
sales objectives with
marketing KPIs.
We need to… collect
feedback from sales
on the attributes of a
lead, opportunity,
and pipeline.
We need to… deploy
account-based
marketing programs for
key accounts. We need to… identify
in-market firms.
We need a…
personalized web
experience engine.

We need to… understand this
whole AI thing and how we can
leverage it for our business.
We need to… understand
and use the digital
behaviors of our prospects.
We need to…
evaluate, upgrade,
and gaps in our
martech stack.
We need to… pilot
cross-functional teams
based on industry
segments.
We need to… align
sales objectives with
marketing KPIs.
We need to… collect
feedback from sales
on the attributes of a
lead, opportunity,
and pipeline.
We need to… have a
360-degree view of
the customer.
We need to… clean
our CRM data so
that it is 100%
accurate… and keep
it that way.
We need to… deploy
account-based
marketing programs for
key accounts.
We need to… identify
in-market firms.
We need to…
understand how our
channel spend
impacts revenue.
We need to…
master our use of
analytics.
We need to…
understand our tech
stack and its
capabilities more
deeply.
We need a…
personalized web
experience engine.

The New Rules
19

Operating by the new rules
› Measure to improve value, not “prove value.”
› Support the C-suite rather than need support.
› Become a partner to sales, not a cheerleader.
› Share stories instead of dashboards.
› Use attribution data to support continuous
optimization, not claim credit.
› Recognize that chaos is an indicator of poor
planning and lack of alignment.
NEW RULES TURN OLD RULES UPSIDE DOWN
Source: Measuring Isn’t Managing: The New Rules Of Performance Management Orchestration Forrester report.

Mindset: Take Back Control
21

Why do we need control back?
› Lack of agreement on how to link marketing
activities to revenue.
› Pressure to over-report, drowning out the metrics
that need increased analysis.
› “Reports” don’t consider other factors that affect
revenue performance.
› Existing measurement infrastructure sometimes
fails us.
› Stakeholders’ expectations are undermanaged.
MEASURING ISNT MANAGING

Let’s reevaluate where
marketing starts and ends.

Measurement versus management
Source: Vendor Landscape: New Technologies Make B2B Marketing Performance Management A Reality Forrester report

Methods
25

Strategy articulation
› Marketers need alignment with sales and other to
prioritize the building and execution of programs.
› Marketers need to determine which metrics they capture
and expose.
›This is about organizational buy-in, negotiation, and
prioritization.
›The alternative is to prioritize everything.
PRIORITIZATION REQUIRES A NORTH STAR
(This is ugly.)
(Also, it’s really undisciplined.)

Measure less. Manage more.

Measurement vs. performance management
Behavior
Data
Timeline
Visibility
Ownership
Alignment
Reactive
Siloed/static
Backwards
Difficult to
obtain
External
stakeholder
Funnel
Measurement
PerformanceManagement
Proactive
Connected/
dynamic
Forwards
Transparent
Marketing
Lifecycle

Marketing performance management levers
THE DIALS WE CAN TURN TO OPTIMIZE MARKETING PERFORMANCE MANAGEMENT
Strategy
Technology
Funnel Metrics
Attribution
Operations
Ownership
Organization
Align to Business Goals
Manage with Systems
Get Insight into Sales Stages
Connect Programs to Revenue
Make Decisions with Results
Steer MPM Agenda
Build Organizational Support

Metrics categories that matter
Source: Metrics That Matter For B2B Marketers Forrester report
MEASURE MARKETING IMPACT ON REVENUE, PROFIT, AND CUSTOMER GROWTH
Volume
Velocity
Value
Effectiveness
Efficiency
Volume measures indicate how many opportunities are in each sales
stage and how fast each population is growing over time.
Velocity metrics capture the time it takes for a prospect (or customer
considering an upsell) to advance through internal sales stages.
Value is a function of forecast revenue at each sales stage.
Effectiveness is reflected in conversion ratios from one stage to
the next.
Efficiency metrics show how well programs and processes
convert costs into returns.

7 Steps To Developing An Insights-
Driven Performance Management
Plan
31

Embrace the ghosts of insights past (and present)
Source: Seven Steps To Kick Off A Customer-Obsessed Insights Program Forrester report.
ACKNOWLEDGE THE BAD EXPERIENCES AND FALSE STARTS
Step 1

Escalate the role of data
THERE IS A HUGE GAP BETWEEN DATA AWARE AND DATA DRIVEN
Step 2
Source: Forrester’s Q1 2017 International B2B Marketing Panel Online Survey.
84%
ranked data
management as
one of their top-
five
weaknesses.

Data
AVAILABLE DATA TYPES
Firmographic data to target the right accounts.
Demographic data to gain insights on key
decision makers.
Technographic data to identify competitive or
complementary technologies used.
Relationship data to connect the dots on buying
team members.
Behavioral/intent data to gauge interest in topics,
content, and potentially, offerings.
Device data to identify users and enable digital
engagement.

Deploy analytics across the customer lifecycle
DELVE INTO THE DEEP WORLD OF CUSTOMER ANALYTICS
Step 3

Insights-Based Actions Across The Lifecycle
Source: Where Are You On The Road To Customer Insights Maturity? Forrester report.
• Profile customers
• Evaluate prospects
• Reach the right prospects
• Analyze customers’ response
• Optimize marketing mix
• Deliver relevant content
• Predict future events
• Expand wallet share
• Target accurately
• Drive deeper product use
• Expand wallet share
• Target accurately
• Analyze engagement
• Improve client service
• Identify pain points
• Prevent defection
• Maximize CLTV
• Cultivate advocacy

Focus on metrics that matter
Source: “Seven Steps To Kick Off A Customer-Obsessed Insights Program” Forrester report.
BUILD CONSENSUS ON EXPLICIT PATH TO REVENUE AND OTHER HIGH PRIORITY OUTCOMES
Step 4Link to business impact
Organizational buy-in
Negotiation

Structure the team you need
INSIGHTS CALL FOR QUANTITATIVE COMPETENCY
Step 5Storytelling & Persuasion
Domain knowledge
Curiosity

Perspective: Domo
"Many analysts and insights pros assume that the data we provide
speaks for itself. It doesn’t.
We bring data, facts, and measurements to our stakeholders, but
what's missing is the bridge from the data to the emotional
engagement that actually drives decisions.
We drive that emotion through storytelling.”
- Brent Dykes, Director of Data Strategy, Domo, Inc.
ANALYSIS AND TRANSLATION ARE SEPARATE

Build the internal network you need
THE RIGHT PARTNERS HAVE OBJECTIVE AUTHORITY AND CROSS-DEPARTMENTAL CLOUT
Step 6
Influence
Common goals
Transparency

Mini-Zoom: Allant
"The CMO must drive revenue while justifying marketing spend, and the
CIO must drive cost-effective leadership.
With the CMO and CIO in the same room, talking about specifics of their
challenges, the CIO can see how when the CMO is successful in
increasing revenue, some of that will come back to each of them for
required investment..."
- Allant Group CEO, Gaurav Issar
CONNECT THE RIGHT INFLUENCERS FACE TO FACE

Small wins demonstrate the art of the possible
ARTICULATE A CLEAR BUSINESS PROBLEM AND GOAL
Step 7

FORRESTER.COM
Thank you
© 2019 FORRESTER. REPRODUCTION PROHIBITED.
Allison Snow
+1 617-613-6154
asnow@forrester.com
@allisonsnow

Reduce Complexity of
Marketing Planning
Alignment to Strategic
Goals
Take Control of
Marketing’s Investment
Create efficiency from
planning to execution
Connected Data for
Actionable Insights
Measure and
Optimize Performance
How Allocadia Can Help You

Measurement
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