Top 5 Marketing Automation Metrics
Measuring the success of marketing automation is an essential part of the overall revenue creation process. But what should you measure?
Most successful marketers and organizations keep score with KPIs (key performance indicators). These KPIs help marketing executives keep a pulse on their business to show value to the organization. There will never be one report that tells the whole story–rather there are several reports that provide insight into your business’s health.
Below are some top reports that provide closed-loop reporting to track a prospect from the top of the funnel to closed business. As you’ll see, I talk about marketing influence/contribution and source/acquisition as two separate measurements. I’ll go deeper into this subject in a future article. To summarize, “acquisition” means first touch–there can only be one. “Influence” means the touch could have happened anywhere along the funnel process.
- Marketing Contribution Report. What is marketing’s contribution to revenue? At a high level, this report puts marketing at the revenue discussion table. For example, marketing influenced $525 million worth of pipeline last year while helping close 78% of last year’s $150 million revenue number. Those are powerful numbers to walk into a quarterly meeting with.
- Top Marketing Programs. What are my most/least impactful marking programs in terms of volume? This report enables you to gauge how leads are entering your funnel to see if any adjustments to the marketing mix is needed.
- Campaign Influence Reports. Which campaigns influence the most revenue? These reports help you make better decisions on where marketing dollars should be allocated. The reports also help justify additional funds when making budget requests.
- Lead Pipeline Reports. How are leads progressing through the funnel stages? For example, benchmark conversion rates of marketing qualified to sales qualified leads to understand where gaps exist. Also measure the length of time a lead sits in a stage to understand where leads are stagnating so you can run programs to accelerate their path through the funnel.
- Acquired vs Influenced Reports. For any given program, what is my cost per lead? per acquired lead? per influence? per opportunity? These reports help you understand what programs are driving acquisition vs influencing deals. For example, trade shows generally bring many new names into your system (acquisition). On the other hand, webinars usually bring in fewer acquired leads but are effective at influencing leads already in your lead pipeline.