Winning the Marketing Measurement Marathon a Step by-Step Approach, as presented by David Raab at the 2010 Marketo User Summit

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Winning the Marketing Measurement Marathon a Step by-Step Approach, as presented by David Raab at the 2010 Marketo User Summit

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Your job as a marketer is hard enough without trying to do it blindfolded. This session shows how marketers can overcome the key obstacles to effective measurement by tracking their impact on leads......

Your job as a marketer is hard enough without trying to do it blindfolded. This session shows how marketers can overcome the key obstacles to effective measurement by tracking their impact on leads as they move through stages in the buying process. You’ll learn how stage-based measurement meets the two critical goals of showing how marketing has added to company revenue, and understand which marketing programs give the highest return on investment.

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  • 1. Winning the Marketing Measurement Marathon: a Step-by-Step Approach David M. Raab, Principal Raab Associates, Inc. draab@raabassociates.com October 14, 2010 © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 1
  • 2. © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 2
  • 3. Pressures on Marketers new media: more choices new buying process: more tasks new technology: more capacity new expectations: more pressure RESULT: greater need for measurement © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 3
  • 4. Measurement is Important Most Important Concepts: 3 Year Trend source: Anderson Analytics, 2010 Marketing Trends Report © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 4
  • 5. Measurement is important, but… …we measure the wrong things What Marketing Is Measuring source: Visionedge Marketing, 2010 Marketing Performance Measurement and Management © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 5
  • 6. Measurement is important, but… …we don’t get any better at it Does your firm calculate marketing profitability, ROI (return on investment) or a similar financial measure to assess marketing effectiveness? (n = 303, 326, 226) 2008 2009 2010 Yes, we calculate ROI, net present value (NPV) or other profitability metrics for at least some of our marketing 26% 24% 27% campaigns / investments Somewhat, we calculate some financial metrics such as cost per lead and cost per sale but not profitability metrics such as 34% 42% 43% ROI and NPV. No, we use traditional marketing metrics but not financial 40% 34% 30% metrics. Use of ROI Metrics to Assess Marketing Effectiveness source: Lenskold Group, 2010 Lead Generation Marketing ROI Study © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 6
  • 7. Measurement is important, but… …we spend our money elsewhere Planned Investments in Key Marketing Initiatives source: Accenture Marketing Transformation, Onward and Up (2010) © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 7
  • 8. The problem is…everything Barriers to Improvement source: CMG Partners Chadwick Martin Bailey, The Marketing Performance Advantage 2009 © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 8
  • 9. Measurement Maturity Model 1. count response 2. show impact 3. understand process 4. optimize results 5. show strategic alignment Page 9
  • 10. Marketers Need an Integrated Measurement System © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 10
  • 11. System Goals show aggregate value from marketing show incremental value by program value = revenue, not leads © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 11
  • 12. Purchase Stages anonymous known interested qualified sales ready opportunity proposal sale © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 12
  • 13. Stage-Based Measurement anonymous prospect email 60% landing page 20% known registration page 20% interested white paper 100% qualified Webinar 100% sales ready demo 70% opportunity pricing page 30% forum query 100% proposal clients page 100% sale © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 13
  • 14. Delivery Requirements: Data © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 14
  • 15. Delivery Requirements: Stage Definitions © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 15
  • 16. Delivery Requirements: Database © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 16
  • 17. Delivery Requirements: Projections © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 17
  • 18. Delivery Requirements: Testing © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 18
  • 19. System Evaluation Checklist already covered: also: data quality integrate with source data stage discovery, rules, back-fill historical data prebuilt flows plans, costs, scenarios analytical database alerts for over/under projections, optimization performance vs. history, and simulation vs. plan, vs. recent testing and interactions ad hoc segmentation & data mining © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 19
  • 20. Critical Metrics goal metric show value of marketing cohort ROI measure program ROI incremental ROI understand stage results stage statistics forecast revenue by revenue projections period © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 20
  • 21. What Next? Make a commitment Follow the maturity model:  measure response: check your data  measure acquisition: need simple system  measure nurture: need stage-based system  improve results: need testing and optimization © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 21
  • 22. Summary Better measurement is essential Advanced measurement requires stages Systems are increasingly available Better measurement is essential © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 22
  • 23. Thank You! David M. Raab draab@raabassociates.com © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 23