Marketing Horror Stories: Unmeasured ROI (and What to Do Instead)

Post on 12-Jul-2015

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Transcript of Marketing Horror Stories: Unmeasured ROI (and What to Do Instead)

Your Hosts

(Innovative Marketing Resources)Max Traylor | Director of Client

Services

@TheMaxTraylor

Danielle Winkler | Inbound

Marketing Consultant

@Dani_Winks

Imrcorp.com/innovative-marketing-

blog

The State of Marketing Analytics

Only 37% of CMOs have quantified the

short-term impact of their marketing

spending

August 2014 The CMO Survey

20% of marketers don’t measure ROI at all

August 2014 The CMO Survey

63% of marketers rank marketing ROI as the

#1 most important measure to gauge

marketing success

IBM’s 2014 Global Chief Marketing Officer Study

Marketers that measure ROI are 12X more

likely to generate greater return year-over-

year than a lower return

HubSpot’s 2014 State of Inbound

More than half of CMOs feel unprepared to

tackle “ROI accountability” (56%)

IBM’s 2014 Global Chief Marketing Officer Study

71% of CMOs feel unprepared to manage

the “data explosion”

IBM’s 2014 Global Chief Marketing Officer Study

What ROI is Not

ROI = Money

Horror Story Time!

Higher Education (visitors)

Real IMR Client (Higher Education)

300% increase in traffic after year 1. 500% after year 2.

Wow – if we blog we can increase

traffic!

We got fired!

Another horror story…

65% increase in traffic from sources that generated the highest quality leads.Client attracting HR decision makers

B2B Services

Wow, if we offer whitepapers we can generate

leads!

We got fired!

Ok, we get it… you need

“sales qualified leads”

Or not… we got fired again

Over the 3 months, we got 38 “sales qualified leads” (vs ~90 from organic)

What we learned

The most valuable thing marketers can do is

MEASURE ROIso that you can improve every month.

Then, you will always be needed…

Visitors – Got it!

Leads – got it!

How valuable are the leads?

Measure and improve ROI!

Every marketing investment has a different return. Lets measure it so we can improve lead volume and quality for sales!

How to Measure ROI

IDEAL: # of customers (or final revenue) by

lead source (Organic? Email? PPC?

Events? Referral Relationships)

Track everything!

Tracking URLs are your friend!

#1 Challenge for Marketers

What if you don’t have access to

customer information?

YOU NEED TO

GET ACCESS

TO CUSTOMER

INFORMATION

Additional Challenges

• Long sales cycle

• Sales doesn’t follow a process

• Sales doesn’t capture feedback

• Sales never talks to marketing (and they

don’t like each other)

What you can do today (real world)

1. Identify the marketing and sales process

2. Get the sales team on record (what are

the qualities of your favorite leads?)

3. Measure lead quality (manually or with

software)

4. Identify marketing investments that result

in the highest quality leads

Questions

Do you know of any rich sources of financial

performance data for inbound marketing

programs?

Questions

Can you suggest a method of calculating

ROI for clients that are just getting started

with content marketing that sell very high-

value ticket items ($500K-$1M)? How can

ROI be improved for such transactions

Questions

How do you measure "free" activities

(unpaid media) such as social, webinars,

email blasts vs paid media

Questions

Any others?

Still Have Questions? Get Help

http://www.imrcorp.com/help

This week’s password: iloveroi

Stay tuned for next week’s

webinar…

Topic: Buzzwords and Pitching Inbound

Marketing to Your Managers