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Jon Miller - Marketing ROI: Building Marketing Credibility with CEO-Worthy Metrics

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Sales Acceleration Summit - This session is now available on demand: http://www.insidesales.com/events/2014/sales-acceleration-summit/jon-miller

Session Overview
In today's marketing world, the stand-out CMOs are the ones who behave like the CEO, the ones who adopt the CEO's holistic, dashboard view of the company. Being able to "talk the talk" — speaking the business language of revenue, profit, and cash — is an increasingly important skill set for CMOs.

But taking that one step further — "walking the walk" to the revenue table — is even more crucial. To do that, you have to embrace analytics and understand why they matter. In this session, learn how to harness those invaluable nuggets of data and leverage the metrics that matter to prove and improve your marketing ROI.

Published in: Marketing
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Jon Miller - Marketing ROI: Building Marketing Credibility with CEO-Worthy Metrics

  1. 1. #SalesSummit | @jonmiller
  2. 2. #SalesSummit | @jonmiller Marketing ROI: Building Marketing Credibility with CEO-Worthy Metrics
  3. 3. #SalesSummit | @jonmiller
  4. 4. #SalesSummit | @jonmiller
  5. 5. #SalesSummit | @jonmiller
  6. 6. #SalesSummit | @jonmiller 12% 20% 15% 9% 44% Improve profits by more than 20% Improve profits by 10% to 20% Improve profits up to 10% No major change in profits generated Don't Know What Profits Can Be Generated With 10% More Budget? #1 Answer: Don’t Know Source: 2010 Lenskold Group / emedia Lead Generation Marketing ROI Study
  7. 7. #SalesSummit | @jonmiller When Metrics Take Away Credibility Vanity Metrics Sound good and impress people, but don’t measure impact on revenue or profitability Activity Metrics Measure what you do instead of what results and impact you have
  8. 8. #SalesSummit | @jonmiller When Metrics Take Away Credibility Cost Metrics Frame marketing in terms of cost and spending instead of results and outcomes
  9. 9. #SalesSummit | @jonmiller
  10. 10. #SalesSummit | @jonmiller Name Awareness Friend Engaged TargetTOFU MOFU Opportunity Customer Lead Sales Lead Nurturing Database BOFU
  11. 11. #SalesSummit | @jonmiller Revenue Cycle Modeler Screenshot: Marketo Revenue Cycle Analytics
  12. 12. #SalesSummit | @jonmiller Filter/Drill into data, e.g. by Program Type, Business Unit, Geography, etc. Key topic areas: • Balance (Reach) • Flow • Conversion • Velocity Trends over time Screenshot: Marketo Revenue Cycle Analytics
  13. 13. #SalesSummit | @jonmiller Get the “Definitive Guide to Marketing Metrics & ROI” marketo.com/DG2MM
  14. 14. #SalesSummit | @jonmiller
  15. 15. #SalesSummit | @jonmiller Why Measuring Return is Hard • Multiple touches. Seven touches needed to convert a cold lead into a sale • Multiple influencers. Typical buying committee has 5-21 people
  16. 16. #SalesSummit | @jonmiller Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics
  17. 17. #SalesSummit | @jonmiller Source: Marketo Revenue Cycle Analytics, Nov 2013 * Percentage of all programs in channel that achieve MT Ratio > 5 % Above Min* 89% 41% 75% 57% 66%10.4 73% 67% 76%
  18. 18. #SalesSummit | @jonmiller Source: Marketo Revenue Cycle Analytics, Nov 2013 * Percentage of all programs in channel that achieve MT Ratio > 5 % Above Min* 89% 41% 75% 57% 66%10.4 73% 67% 76% (MT) Ratio = Pipeline / Investment >10 is Great and <5 is Fail Webinar = 54!, Tradeshow = 6.9, Sponsored Email = 3.8, Content Syndication = 9.6
  19. 19. #SalesSummit | @jonmiller Source: Marketo Revenue Cycle Analytics, Nov 2013 * Percentage of all programs in channel that achieve MT Ratio > 5 % Above Min* 89% 41% 75% 57% 66%10.4 73% 67% 76%% Programs with MT Ratio > 5 e.g. Content Syndication has good average but 43% programs “fail”
  20. 20. #SalesSummit | @jonmiller Tweetable Takeaways 1. Marketing activity it easy to track, but marketing impact is hard to demonstrate – Sales is opposite 2. Focus on financial metrics that matter to the CEO and other executives (profit, cash, revenue) 3. Avoid cost and spend metrics – focus on investment and return 4. A trusted marketing forecast is the single most important step to make marketing a revenue driver, not a cost center 5. Multi-touch attribution gives more insight into the full funnel @jonmiller

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