@vinkoe over Salesbenchmark Index just came out with an article on some of the key indicators marketing leaders and executive management are looking for. No surprise, the trend continues that marketing needs to step up to the table with hard numbers to justify marketing spend. Gone are the days of activity-based metrics such as total web visitors or email clicks. Today, it’s all about how much revenue marketing is contributing to the bottom line. For example, of the 500 million in new customer pipeline, how much of that did marketing GENERATE?
The Next Step: Track Influence as a KPI
I actually think the measurements go beyond contribution and should also include influence. For example, if a rep cold calls a lead and that lead attends a webinar, first touch contribution states this person is a Sales Generated lead. That metric is important to track. However, like tracking an assist in basketball, tracking the webinar’s influence is also important. Now add a second question, of the 500 million in new customer pipeline, how much of that did marketing INFLUENCE? Here executives can compare both metrics and make findings like, “Trade shows are great for lead acquisition compared to webinars but webinars influence many more Opportunities.” You can’t do this when you track acquisition alone.
2013 is the last year executives accepted activity-level results from marketing. CEO’s don’t accept activity reports from Sales […]
The top three success metrics for B2B marketing include:
- Lead Generation team % of Contribution to Sales Revenue (Wins)
- Lead Generation team % of Contribution to Sales Funnel (Opportunities)
- Quantity of Sales Qualified Leads delivered to Sales (Leads)