We have a national crisis on our hands: marketers everywhere are losing sleep. They are being kept up at night by a variety of marketing concerns, according to a 2013 survey by Adobe. Three of the chief nightmares that are causing them to toss and turn, waking up in a cold sweat?
Proving the effectiveness of their campaigns (77% of survey respondents)
Understanding whether their campaigns are working (79%)
Demonstrating marketing’s return on investment (75%)
But fear not! InsightSquared is here to provide you marketers with the marketing metrics you need to answer your questions and put your mind at ease. Using these metrics will have you sleeping like a baby through the night.
Are my campaigns effective in generating leads?
This is the surface-level analysis of what every marketer’s primary job responsibility is – to generate leads that the sales team can then work on. To that end, marketer’s need to know if each of their campaigns are generating any leads and opportunities. Which is why the report below is so critical for marketers to keep an eye on.
Instead of just looking at a raw number of leads and opportunities generated by each marketing campaign, this marketing metric also includes a conversion rate of leads to opportunities. This allows marketers to have a more discerning eye into not only the number of leads each campaign generates, but the quality of these leads. Campaigns with a high conversion rate of leads to opportunities should be targeted more.
But, at the end of the day, leads are not the be-all-end-all of marketing’s effectiveness. CEO’s care more about whether marketing is moving the needle on the bottom line or not, which takes us to…
‘Lead’ is a dirty four-letter word
Are my campaigns working?
Leads and opportunities from marketing campaigns are great, but what’s the point if they’re not resulting in bookings? All the leads in the world won’t matter if they’re not helping the company’s bottom line. Check out this Marketing Bookings by Campaign report to help answer the question of whether marketing is affecting actual revenue, and which campaigns are particularly impactful in doing so.
Knowing not only which campaigns are generating real revenue results, but which campaigns produce the most valuable deals, is a tremendous boon to marketers. This information can better guide their marketing tactics going forward, focusing on campaigns that generate actual dollars, as opposed to those that are a waste of money and time. Which brings us to…
What is the ROI of my marketing campaigns?
Marketers (should) know how much they are spending on each campaign. What’s tougher is deriving the value produced by the investment in each campaign. With the marketing metric and report below, this information can not only be easily obtained, but drilled down to provide real insights. Getting the conversion rates of each campaign will provide you with an average dollar value per lead – an immensely valuable measure.
In this example above, the How to Measure Better Conference generated a ton of deal value. However, as every marketer knows, conferences are an incredibly expensive investment. What if this conference cost the company $300,000 to host and organize? Does that make it a better investment than the “Top 5 Tricks” eBook, which might have only cost less than $5,000 to run?
So there you have it, the soporific marketing metrics you need to put your mind at ease. With these reports, you no longer have to spend sleepless nights wondering about your campaigns’ effectiveness or having to justify their ROI.