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9 Measurement Tips to Improve Your Relationship With Your CMO, Jon Russo – Founder, B2B Fusion Group

Jon Russo, Founder of B2BFusion, discusses how to get the marketing metrics your CMO or VP of marketing by cleaning up your data, fixing your processes, and finding the right tools.

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9 Measurement Tips to Improve Your Relationship With Your CMO, Jon Russo – Founder, B2B Fusion Group

  1. 1. 9 MEASUREMENT TIPS TO IMPROVE YOUR CMO RELATIONSHIP
  2. 2. WHAT IS YOUR BIGGESTCHALLENGE MEASURING MARKETING IMPACT?
  3. 3. 2 3 4 1 Data Quality: We have incomplete, inaccurate, or missing data that impacts KPIs – or makes measurement impossible Alignment: Our sales and marketing nomenclature is not defined, agreed upon, documented, or consistently used Tools: We have marketing automation & CRM, but measure in Excel … and the Excel reporting is not credible internally! Process: We 'Set and Forget' our reporting and processes, hoping for accuracy POLL
  4. 4. Elevate the thinking around KPIs, ROI, and metrics from executive viewpoint FROM TODAY’S PRESENTATION KEY TAKEAWAYS Aspire to measure the business, not justify marketing’s existence Think more about data as the single fundamental ingredient of measurement success
  5. 5. RELEVANT DASHBOARD EXPERIENCE
  6. 6. IMPROVE PERFORMANCE How do we track, trend, and improve our sales & marketing close performance? SALES How can we optimize CRM processes & data quality to improve sales productivity? MARKETING How do we generate more sales ready leads and track our Marketing ROI business impact?
  7. 7. MEASURING MARKETING ROI WHAT OUR CLIENTS SAY…
  8. 8. Corey Livingston Sr. Director, Marketing. Level (3) Communications B2B Fusion transformed our lead generation practices and with Full Circle, provided me credible dashboard reporting to use with my CMO and others in the organization. Now I can finally report on marketing impact to the business. I recommend B2B Fusion without reservation. WHAT OUR CLIENTS SAY
  9. 9. Toby Lee, CMO Thomson Reuters Tax and Accounting B2B Fusion transformed our lead generation practices and provided me credible dashboard reporting to use in 4 business units in 3 global geographies. I recommend B2B Fusion without reservation. WHAT OUR CLIENTS SAY
  10. 10. INDUSTRY CHALLENGE
  11. 11. 2 in 3 US CMOs are feeling pressure from executives or board to prove marketing’s value A Surprisingly Difficult Industry Challenge MEASURING MARKETING ROI 45% of CMOs expressed confidence that they know which metrics or business outcomes their key stakeholders care about 9% of enterprises achieved accurate and credible marketing impact reporting. IBM 2011, N=1733, The CMO Survey 2013, N=410, Forrester 2013, N=179, Aberdeen 2014, N=250, 2014 Duke University CMO Survey, N=351
  12. 12. 1 BENCHMARK YOUR ANALYTICS (AND LEAD GEN) MATURITY
  13. 13. 2 CREDIBILITY: AVOID STARTING WITH “DISPLAY AND PRAY”
  14. 14. TIP #2 – CREDIBILITY - AVOID STARTING WITH “DISPLAY AND PRAY”
  15. 15. 3 ADAPT (DON’T ADOPT) FRAMEWORKS, EXECUTE FLAWLESSLY
  16. 16. Nurture Funnel Width = Quality + Quantity of Leads LEAD GENERATED INSIDE SALES Efficiency = Processes & Speed from Inquiry to Close TIP #3- ADAPT (DON’T ADOPT) FRAMEWORKS, EXECUTE FLAWLESSLY SALES ACCEPTED LEAD LEAD GENERATED QUALIFIED LEAD SALES QUALIIFIED OPPORTUNITY CUSTOMERS MARKETING QUALIFIED LEAD INQUIRIES ALL NAMES MARKETING SALES
  17. 17. 4 CREATE A MARKETING FORECAST
  18. 18. 2 3 1 TIES MARKETING TO SALES = REVENUE BASED GOALS CREATES URGENCY AROUND POORLY PERFORMING AREAS PUTS MARKETING PERFORMANCE ON MAIN STREET BENEFITS TIP #4 - CREATE A MARKETING FORECAST
  19. 19. TIP #4 - CREATE A MARKETING FORECAST
  20. 20. 5 DON’T PRESENT JUST MARKETING. COMPARE & INTERPRET.
  21. 21. TIP #5 - DON’T PRESENT JUST MARKETING. COMPARE & INTERPRET.
  22. 22. 6 CREATE A GAMEPLAN AROUND DATA PATHOGENS
  23. 23. Inaccuracy Duplication Incomplete Records Incomplete DatabasesMis-targeting Mis-matched databases The 6 data pathogens … TIP #6 – CREATE A DATA GAMEPLAN AROUND 6 DATA PATHOGENS John Smith John Smith
  24. 24. 7 TRANSLATE DATA INTO C-SUITE LANGUAGE AS MARKETING ROI TIES TO DATA QUALITY
  25. 25. 25% OF A FIELD SALES REP’S SELLING TIME IS WASTED WITH INCORRECT DATA POOR DATA INHIBITS REVENUE PRODUCTIVITY 30% OF SALES REP’S OVERALL TIME IS SPENT ON RESEARCH HIGH QUALITY DATA CORRELATES TO 39% MORE CLOSES & 66% MORE REVENUE TIP #7 - TRANSLATE DATA INTO C-SUITE LANGUAGE AS MARKETING ROI TIES TO DATA QUALITY Integrate2015, Gartner 2013, IDC 2013, Alinean 2013, Discover.org 2013, Data.com
  26. 26. 30 TIP #7 - TRANSLATE DATA INTO C-SUITE LANGUAGE AS MARKETING ROI TIES TO DATA QUALITY
  27. 27. 8 MAINTAIN CAMPAIGN CONTINUITY – AND CREDIBILITY – THROUGH DATA STEWARDSHIP
  28. 28. Jane Doe Tip #8. Maintain campaign continuity and credibility through data stewardship 32 John Smith Converted Lead... John Smith Webform WebinarReg Jane Doe Tradeshow Unconverted/unmerged duplicate lead… Campaigns ARE brought to contact Trial Campaign NOT brought to contact Campaigns brought to opportunity by contact roles if campaign attached to contact Acme, Inc. Opportunity Webform Trial Missing Tradeshow Missing Webinar Reg Missing campaign influence on opps due to unconverted duplicates Most recent campaign gets ALL the credit Duplication/hygiene exacerbates: • Contact/account already existed – didn’t catch them • Real lead source obscured • All other campaigns get no credit Jane Doe John Smith Webform Trial
  29. 29. 9 ASK RELEVANT QUESTIONS
  30. 30. ASK RELEVANT QUESTIONS Which questions do you know would equal business impact? HOW DO I GET A SINGLE VERSION OF THE REPORTING TRUTH? HOW DO WE REPORT ACROSS LEADS AND CONTACTS? HOW DO WE KNOW WHAT OUR TARGET MARKET UNIVERSE CONTAINS? HOW DO WE GET SALES TO HONOR OUR SLA? HOW DO WE CLEANSE OUR DATA WITHOUT BREAKING ANYTHING? HOW DO WE CREATE A RELIABLE REPORTING STRUCTURE? HOW DO WE STOP BREAKING CAMPAIGN VISIBILITY BETWEEN NAME AND CLOSE? HOW DO WE TRUST HOW OUR MARKETERS MEASUREMENT OF THEIR OWN CAMPAIGN RESULTS? TIP #9 – ASK BUSINESS-RELEVANT QUESTIONS
  31. 31. ELEVATE THE THINKING AROUND KPIS, ROI, AND METRICS FROM EXECUTIVE VIEWPOINT CONCLUSION ASPIRE TO MEASURE THE BUSINESS, NOT JUSTIFY MARKETING’S EXISTENCE THINK MORE ABOUT DATA AS THE SINGLE FUNDAMENTAL INGREDIENT OF MEASUREMENT SUCCESS
  32. 32. Inaccuracy Duplication Incomplete Records Incomplete DatabasesMis-targeting Mis-matched databases The 6 data pathogens … IF INTERESTED – A WHITE PAPER ON DATA MANAGEMENT FOR EXECUTIVES John Smith John Smith
  33. 33. SAMPLE OF CUSTOMERS & KEY MENTIONS
  34. 34. JON RUSSO Jon.Russo@B2Bfusiongroup.com linkedin.com/in/jonrussoexecutive @b2bcmo

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