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Achieving Marketing and Sales alignment

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Methodology to create a Marketing C-level dashboard for Executive Staff and BoD to analyze marketing return on invest (closed loop concept) and impact on revenues.

Methodology to create a Marketing C-level dashboard for Executive Staff and BoD to analyze marketing return on invest (closed loop concept) and impact on revenues.

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  • 1. Achieving Marketing and Sales alignmentTangible revenue impact with a C-level Dashboard
    Nicolas Draca
    July 2010
    Eloqua Experience 09 - Markie Award 2009 - Sales Impact
    Dreamforce 09 - Appy Award Nominee - Sales Cloud
    Tangible revenue impact with a C-level Dashboard, July 2010 Nicolas Draca, ndraca@gmail.com
    1
  • 2. As-is situation
    Marketing Automation brought a new generation of
    B2B Marketers:
    • Empowered with new lead qualification mechanisms (i.e.: web tracking, scoring, nurturing)
    • 3. Focused on tangible metrics measuring marketing success rate(i.e.: funnel conversion rate, buying process)
    • 4. Experimenting cutting-edge lead strategies to grow sales pipeline
    2
    Tangible revenue impact with a C-level Dashboard, July 2010 Nicolas Draca, ndraca@gmail.com
  • 5. Challenges
    • From a CEO perspective, Marketing is a non-measurable investment
    • 6. From a CFO perspective, Marketing is a cost
    • 7. From a Sales perspective,Marketing is a mystery
    3
    Tangible revenue impact with a C-level Dashboard, June 2010 Nicolas Draca, ndraca@gmail.com
  • 8. Objectives
    Stop “hiding”and engage your Execs with a C-level Dashboard
    • 10,000 foot analysis: simple and easy to read
    • 9. Not subject to multiple interpretations
    Our primary goal
    Measure marketing impact on pipeline and revenue
    4
    Tangible revenue impact with a C-level Dashboard, July 2010 Nicolas Draca, ndraca@gmail.com
  • 10. C-level Dashboard - Overview
    Lead generation
    (per work day)
    Bookings
    ($M)
    Pipeline generation
    (# Opps per work day)
    5
  • 11. C-level Dashboard – Lead Generation
    Sources
    Google Analytics Report
    Salesforce Lead matrix report: - “Lead Source” (Count) - “Lead Created Date” (Fiscal Quarter)
    Marketing responsibility
    • Increase web site traffic while improving lead conversion rate.
    My 2 cents
    • Important – Do not use Google conversion metrics to report on number of inquiries as Google can not match inquiries to your CRM System.
    • 12. Filters to analyze the data:“Traffic source” or “Geo Region”
    Web traffic
    (per work day)
    6
    Tangible revenue impact with a C-level Dashboard, July 2010 Nicolas Draca, ndraca@gmail.com
  • 13. C-level Dashboard – Lead Generation
    Source
    • Salesforce Lead matrix report:- “Budget Source” (Count) - “Lead Created Date” (Fiscal Quarter)
    Marketing responsibility
    • Increase number of inquiries while reducing the cost per inquiry.
    My 2 cents
    • Important – “Budget Source” should be tied to your company budget allocation (Marketing, Channel or Sales)
    • 14. Important - Do not allow your Reps to create new leads in salesforce, instead get them to clone an existing lead/contact or create a new lead using a web form to prevent duplicates
    • 15. Tie the “Budget Source” to the “Lead source” and limit number of “Lead Source” to 10 (i.e.: Manual Import, Event, List, Search Organic, Search Paid, Requested Contact, Requested Content, Partner, Training)Filters to analyze the data:“Lead Source”, “Lead Score”, “Campaigns” or “Geo Region”
    Lead Generation
    (per work day)
    7
    Tangible revenue impact with a C-level Dashboard, July 2010 Nicolas Draca, ndraca@gmail.com
  • 16. C-level Dashboard – Pipeline Generation
    Source
    • Salesforce Opportunity matrix report- Budget Source (Count) - Opp. Created Date (Fiscal Quarter)
    Marketing responsibility
    • Increase Marketing initiated Opportunities.
    My 2 cents
    • Important - To improve data analysis (closed loop concept), when creating the opportunity you must automatically import lead/contact marketing information into the opportunity (lead source, campaigns, scoring, #ouches, lead age ..)
    • 17. Report on number of opportunities created, not on pipeline ($) (as pipeline ($) changes will skew your data analysis)
    • 18. Filters to analyze the data:“Lead source” conversation rate, “Lead/Contact Age”, “Scoring” or “Geo Region”
    # Opportunities Created
    (per work day)
    8
    Tangible revenue impact with a C-level Dashboard, July 2010 Nicolas Draca, ndraca@gmail.com
  • 19. Dashboard for C-level – Bookings
    Source
    Salesforce Opportunity Won matrix report - “Lead Source” ($M) - “Opportunity Closed Date” (Fiscal Quarter)
    Marketing responsibility
    • Reduce the sales cycle from “lead created date” to “opportunity closed date”.
    My 2 cents
    • Important – It is unlikely that an increase in inquiries on the current quarter will impact bookings on the same quarter (as we need to add the sales cycle to the equation)
    • 20. Important – You have all the data needed for a closed loop analysis (see backup slides)
    • 21. Filters to analyze the data:“Lead Source”, “Scoring”, “Geo Region”, “Opportunity Size” or “Sales Cycle”
    Bookings
    ($M)
    9
    Tangible revenue impact with a C-level Dashboard, July 2010 Nicolas Draca, ndraca@gmail.com
  • 22. Key Take Away
    • Avoid confusion by keeping the dashboard simple
    • 23. Spend face to face time to educate your Execs
    • 24. 12 months of data is needed for valid analysis
    • 25. Be ready for more, C-level Dashboard is only the beginning of a long journey!
    10
    Tangible revenue impact with a C-level Dashboard, July 2010 Nicolas Draca, ndraca@gmail.com
  • 26. Our ultimate goal:
    “ E = MC2 ” for Marketers
    Marketing Budget Quarter (N) =
    “Revenue Goal Quarter (N + SalesCycle)“
    “Lead Source” “Cost Per Deal”
    “Average Deal Size”
    x
    Validate your marketing budget
    Optimize your buying process
    Experiment revenue forecasting
    11
    Tangible revenue impact with a C-level Dashboard, July 2010 Nicolas Draca, ndraca@gmail.com
  • 27. Thank youNicolas Dracandraca@gmail.comhttp://www.linkedin.com/in/ndraca
    12
    Tangible revenue impact with a C-level Dashboard, July 2010 Nicolas Draca, ndraca@gmail.com
  • 28. Backup slides
    July 2010
    13
    Achieving Marketing and Sales alignmentTangible revenue impact with a C-level Dashboard
    Tangible revenue impact with a C-level Dashboard, July 2010 Nicolas Draca, ndraca@gmail.com
  • 29. Closed loop analysis:Recognize business cycles
    Prospects
    Leads
    Meetings
    Opportunity Created
    Opportunity Won
    Sales Cycle 100 days 110 days
    Conversion rate 100 leads 20 meetings 10 Opps 2.5 Opps
    Marketing ROI $30 / lead $150 /meeting $300 /Opp $1,200 /Opp
    14
    Tangible revenue impact with a C-level Dashboard, July 2010 Nicolas Draca, ndraca@gmail.com
  • 30. Closed loop analysis:Understand marketing campaign impact
    Prospects
    Leads
    Meetings
    Opportunity Created
    Opportunity Won
    Marketing content
    Marketing content
    Marketing content
    Phase 3: Preference
    BrandCase Studies
    Product reviewschannel
    CustomersEval
    Phase 1: Awareness
    Organic searchSocial Mediachanneladvertising
    freewarepress
    Phase 2: Consideration
    eventschannel
    Webinarsdemo
    Newsletter
    15
    Tangible revenue impact with a C-level Dashboard, July 2010 Nicolas Draca, ndraca@gmail.com