Date post: | 28-Nov-2014 |
Category: |
Technology |
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Aligning Sales and Marketing Measurement – Tracking KPIs That Matter
Derek Grant Director of Sales
Hi, I’m @derekgrant
A Little About FSU: • #8 Party School • #101 Best Colleges • 40% 4 Year Grad
Rate University Motto: • “C Pares Gradu” C Equals Degree
Setting the Stage The Evolving State of Measurement
In the beginning
Man Marketed… • …And it was good • All about leads • No closed loop
I know half my marketing is working,
I just don’t know which half.
The New Reality
That which gets measured gets improved.
Measurement is good • Justifying Budget • Developing Pipeline • Executive Visibility
Everyone Is Tracking Something
76% of B2B marketing professionals agree or strongly agree that their “ability to track marketing ROI gives marketing more respect.” -Forrester Research
Sales and Marketing Better Together
The Old Model
• Separate Marketing and Sales Pipelines
• Progress to sales was paramount
• Lots goes in, little comes out
Sales
Opp
Won
Marketing
Inquiry
Lead
Become Best Friends
• Complimentary relationship
• End-to-end visibility • Marketing touches
enable sales • Recycle & nurture
dormant leads
A New Model
• Single view • Progress can be
tracked • Alignment of goals • Easy measurement
Prospect
MQL
SAL
SQL
WON
Prospect to MQL The Marketing Funnel
Step 1 – Acquire Prospects
Prospect
MQL
SAL
SQL
WON
Inquiries Raised Hand
What to Measure? • Form Conversions • Email CTR • Webinar Attendees • Tradeshow Scans
MQL – Have a common definition
The Velvet Rope • KISS Principle Traditional Models • BANT • Explicit • Implicit • “Eyeball Approach”
Explicit Qualification
Demographics • Job Title • Location • Revenue • Employee Count
Implicit Qualification
Activities • Contact Me Form • Free Trial Not All Created Equal • Whitepaper v.
Buyer’s Guide
A Blended Model
Implicit
Tradeshow
Careers page
White paper
download
Explicit
Revenue
Geography Job Title
VP of Sales North America Tech Company
500M 250 Employees
Searched “Pricing” Buyer’s Guide “Contact Me”
Your ideal prospect
Step 2 – Assign Marketing Qualified Leads
Sales Ready!
What to Measure? • Number Unassigned • Campaign
Optimization • Benchmark <10%
Prospect
MQL
SAL
SQL
Won
Math For Marketers
Prospect
MQL
SAL
SQL
Won
Number of Assigned MQLs
Number of Prospects
MQL to Close The Sales Funnel
Step 3 – How Many MQLs Were Accepted
Prospect
MQL
SAL
SQL
Won
Accepted or Disqualified?
What to Measure? • Number Unqualified • Feedback Loop • Benchmark – 58%
Improve Your Chances for Conversion
Respond Immediately • Steep decline after 5
minutes • 78% of inquires
submitted on the web buy from the first vendor to respond
Courtesy of InsideSales.com
Know When to Quit
Touches Matter • After 8 calls, play the
lottery • 8 touches moves
“suspect” to “prospect”
-Bridge Group • Recycle to Nurturing
Courtesy of InsideSales.com
Math For Marketers – How Many SALs
Prospect
MQL
SAL
SQL
Won
Number of Assigned MQLs
Number of Disqualified Leads
Math For Marketers – SAL Conversion Rate
Prospect
MQL
SAL
SQL
Won
Number of SALs
Number of MQLs
Handling Lagging MQLs and SALs
Prospect
MQL
SAL
SQL
Won
Nurture leads back to life • Marketing rules-driven
• Sales directed
• Decay/reset lead score
• Stage: back to Prospect
Step 4 – How Many Turned Into Opps?
Prospect
MQL
SAL
SQL
Won
Qualified Opportunity
What to Measure? • Converted Leads • Filter by created date • Benchmark – 49%
Math for Marketers – SQL Conversion Rate
Prospect
MQL
SAL
SQL
Won
Converted Leads (SQL)
Number of Accepted Leads (SALs)
Step 5 – How Many Were Won?
Prospect
MQL
SAL
SQL
Won #WINNING
What to Measure? • Contact Role by Lead
Source or Campaign • Filter by created date • Benchmark – 23%
Math For Marketers – Won Opp Conversion Rate
Prospect
MQL
SAL
SQL
Won
Closed / Won Opps
Converted Leads (SQL)
Math for Marketers - Don’t Forget the ROI
Won Revenue - Expenses
Expenses
Prospect
MQL
SAL
SQL
Won
Questions
Title First Name Last Name
@twittername