Date post: | 04-Dec-2014 |
Category: |
Business |
Upload: | left-brain-dga |
View: | 882 times |
Download: | 0 times |
Why Analytics is (Finally) The Next Big Thing
in B2B Marketing
David M. RaabLeftbrain DGAJune 26, 2012
Good news…bad news
Spending on marketing analytics to increase 60% in three years
Lenskold Group: slow increase in use of ROI Metrics
Forrester: 1.2% increase in 2012 budget customer and market intelligence
© Left Brain Marketing Inc. All Rights Reserved
7
Non-Revenue Metrics that Matter
benchmarks projections operations exceptions testing strategic goals
© Left Brain Marketing Inc. All Rights Reserved
8
Twin Challenges of Analytics
assemble data analyze data
© Left Brain Marketing Inc. All Rights Reserved
9
Data Assembly Challenges
getting the right data• multiple sources• storing adequate volume• filtering for relevant detail
cleansing and transforms• converting to structured• integrating across sources• standardizing & removing
errors• attaching attributes• formatting for analysis
© Left Brain Marketing Inc. All Rights Reserved
10
Data Analysis Challenges
general• uncovering relationships• changes over time• mastering new tools
B2B-specific• program effectiveness• content effectiveness• funnel analysis• testing• media mix & other
optimization© Left Brain Marketing Inc. All Rights Reserved
11
Solutions
data assembly• prebuilt connectors & tools• standard schemas• analytical databases• quality monitoring of inputs• production monitoring of
process
© Left Brain Marketing Inc. All Rights Reserved
12
Solutions
data analysis• standard reports• exception & variance reports• compare vs. goals & past
results• key performance indicators• forecasts & projections• ad hoc capabilities
© Left Brain Marketing Inc. All Rights Reserved
13
Solutions
© Left Brain Marketing Inc. All Rights Reserved
14
data analysis: funnel math
Prospects 1,000%
converttime in stage
Respondents 200 20% 5
Qualified Respondents 60 30% 20
Sales Ready Leads 30 50% 10
Sales Opportunities 24 80% 30
Closed-Won Deals18 75% 10
Solutions
© Left Brain Marketing Inc. All Rights Reserved
15
data analysis: revenue attribution• opportunities > leads• opportunities > accounts > leads• opportunities > companies >
leads indirect attribution
• multiple leads per opportunity• impact on pre-existing accounts• measure ‘influenced’ deals
Solutions
deployment• data capture• targets• test design• execution• assessment• continuous improvement
© Left Brain Marketing Inc. All Rights Reserved
16
More, Please Best Avg Lag
Process to test effectiveness of campaign content
Defined process to disseminate knowledge on marketing campaigns to key decision makers/stakeholders
Dedicated staff to collect and manage all campaign/resource data
Track, measure and report on all marketing campaign results
Dashboards
Marketing content / asset management
Revenue performance management
Key Performance Indicators (KPIs) are defined to track overall marketing performance
Ability to identify which marketing channels drive offline sales
Source: Aberdeen Research, Analytics for the CMO, September 2011© Left Brain Marketing Inc. All Rights Reserved
17
64%42
%25%
59%40
%22%
73%64
%45%
82%57
%38%
73%64
%44%
59%35
%29%
52%43
%39%
64%45
%27%
45%25
%18%
Worth the Trouble?
© Left Brain Marketing Inc. All Rights Reserved
18
source: 2011 Lenskold Group marketing ROI & Measurement Study
64%
51%
What Next?
audit existing capabilities
define goals, prioritize, set strategy
build long-term execution plan
deploy in stages
© Left Brain Marketing Inc. All Rights Reserved
19
Recap Forest AND Trees
Twin Challenges (and Sister)
Hang in There
Plan Carefully
© Left Brain Marketing Inc. All Rights Reserved
20
Thank You
David M. [email protected]
www.leftbraindga.com
© Left Brain Marketing Inc. All Rights Reserved
21