Webinar: The 5 Metrics Every Marketer Must Track For A Clear Picture of Revenue Impact
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Transcript of Webinar: The 5 Metrics Every Marketer Must Track For A Clear Picture of Revenue Impact
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Presented by
The 5 Metrics Every Marketer Must Track For A Clear
Picture Of Revenue Impact
#Revenue
Sponsored by
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Welcome Webinar AAendees
Type quesDon here
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Follow this webinar on TwiAer
#Revenue Demand Gen Report: @DG_Report
LeadMD: @MyLeadMD
Jus9n Gray: @JGraymaAer
David Raab: @DRaab
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About Demand Gen Report
• Launched in 2007 to track best prac9ces in lead genera9on
• NewsleGer has grown to more than 26,000 readers
• We also offer a menu of research and best prac9ces reports
• New audio/video podcasts at DemandGenReport.com
@DG_Report http://linkd.in/DG_Specialists
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Panelists
David Raab Chief Analyst
Raab Associates
Jus9n Gray CEO
LeadMD
MaGhew McKenzie Senior Editor
Demand Gen Report
MODERATOR
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Top Five Metrics For Revenue GeneraDon Marketers
6 www.raabassociatesinc.com
Justin Gray Marketing Evangelist LeadMD [email protected] @myleadmd
David M. Raab Chief Analyst Raab Associates Inc. [email protected] @draab
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It’s a great 9me to be a marketer.
7 www.raabassociatesinc.com
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We need new measures.
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Revenue = leads produced x close rate x customer value
Core Metrics
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Revenue = leads produced (acquisi9on) x close rate (nurture) x customer value (quality)
Core Metrics
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Revenue = leads produced (acquisi9on) x close rate (nurture) x customer value (quality) cycle 9me cost
Core Metrics
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How am I doing? (Compared to what?)
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James Buchanan Abraham Lincoln
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Funnel Stages
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quanDty conversion rate
cycle Dme
cost
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Segmenta9on
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Pueng It Together
• five core metrics • split by stage and segment
• compare vs trends, plans, standards
• connect cause with effect
• es9mate incremental value
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How?
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How?
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key func9ons • gather the data • store the data • create benchmarks • build a model
next steps • assess resources • set ini9al goals • set long-‐term goals • deploy in stages
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Final Result: Controlled Marke9ng
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The Results?
• Nothing…
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So what’s the problem
• Data not present • Data not standardized • Process not defined
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First Steps
• Recognize the cyclic nature of interest • Devise a system to capture it • Create a feedback loop
– Don’t treat failure as a plague
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Key Areas of Weakness
• AGribu9on Model – First Touch – Last Touch – Equal AGribu9on – Weighted AGribu9on
• Consistency – CRM & MA
• Progressions / Lifecycle
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Fix it & Maintain It
• If it happens once… • Document the process • Details drive reports
– The most boring areas of your process drive the most dynamic reports
• Create a maintenance plan – De-‐Dupe – Standardize – Change Management
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Define Success
• When building reports – What is the desire? – How will you measure? – What change will you drive?
• When building process – What will you gain? – What will you give?
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5 Common Metrics
• 1. Total Net New Leads by Acquisi9on Program
• 2. Conversion & Close Rates • 3. Opportunity Metrics per Lead Channel • 4. Lead Velocity • 5. Revenue Model Performance
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Lead Acquisi9on
• Who is filling the “funnel” and at what Cost
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Lead Conversion
• How do acquisi9ons channels convert – Keeps Marketers Honest
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Value of Channel
• Locate the best deals – find the best Channels – Makes it real
• $$$
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Lead Velocity
• Add the dimension of 9me – Absent of opportunity
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Revenue Model
• Display the “Funnel” – Align the organiza9on through exposure
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BE PREPARED TO ACCEPT FAILURE
• If we knew best, there would be no need to report. – Period.
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The Actual Results
• How you present is as important as what • Over-‐communicate • Have an ac9on plan • Of your failures, what do you repeat?
– 96% of marketers have repeated a failed campaign
– STOP!
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Q&A // Submit Your QuesDons
Type quesDon here
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Q&A // Panelists
David Raab Chief Analyst
Raab Associates
Jus9n Gray CEO
LeadMD
MaGhew McKenzie Senior Editor
Demand Gen Report
MODERATOR
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Thank You For AAending This Webinar!
Download the White Paper at:
http://leadmd.com/top5