Marketing Metrics Feed

How many leads does your rep need to make Quota?

Give reps the right number of inquiries and the company is more profitable, sales turnover drops, reps make quota and marketing spending is predictable; fail at this and the company fails.

Do you give a salesperson five leads*  in one month and twenty the next? Inconsistent inquiry flow leads to boom and bust reactions and it is the reason for many swings in revenue and failed pipelines. 

Stu-jimmy-we-need-more-leadsIf a sales rep gets too few inquiries momentum stagnates.   If the next month they get slammed with a larger than normal influx of inquiries, follow-up fails as the representative  makes a series of triage decisions based on what is known or not known about a lead and his or her available time.

If your marketing department tosses large numbers of qualified and unqualified leads to the rep, the ones with the least information (less qualification information) will be ignored.  Because inquirers are also liars, especially those that may have a need to buy (they only reveal their intent when they get THEIR questions answered), many hot buyers are triaged because the reps have too much to do.

Serious buyers often are ignored because they had the ill fortune to inquire in a month that delivered too many prospects to their sales representative.

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Is your marketing plan based on a sales lead forecast?

IStock_000075370299_Large (3)Starting January 1, if you have a calendar business year, you should have a new marketing plan with SWOT, Goals, Objectives, Strategies, and Tactics. The plan must be based on a sales forecast by product. It should state how many inquiries by product will be essential to make forecast and the sales quotas.

Each tactic should clearly state how many raw inquiries and qualified leads you will create to make forecast (if the tactic is lead gen based).

Budgets should reflect two approaches:

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Listen While You Work: How can Sales KPI's Make a Sales Manager Outperform Competitors?

In this interview with Pipeliner CEO Nikoluas Kimla and John Golden, Chief Strategy officer for Pipeliner, they discuss the five KPIs that every sales manager should use to understand how to coach their teams to extraordinary success. The host is SLMA's Jim Obermayer.

Watch now:


Key Performance Indicators aren't new, but for many sales managers KPI's aren't defined, tracked or used as pointers to help them manage salespeople. Maybe it is the lack of easy to use tools to track KPIs.  Maybe it is the sales manager's inability to understand how they can use KPIs to look at the past and predict the future;  regardless, the excuses aren't valid anymore. 

About Nikolaus Kimla

Nikolaus is a true entrepreneur: over the last 40 years he has created six businesses, three of which are still going strong today. His experience in the software industry goes back over 20 years to his founding of uptime ITechnology. Through his work at uptime he learned software development from the ground up and, as noted above, the company has been a resounding success.

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White Paper Review: Why You Need Marketing and Sales Synergy


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Title:
 Marketing and Sales Synergy

Published by:  Pedowitz Group: The Revenue Marketing Agency

“A ‘sales alignment’ is the term most often used to describe this pivotal relationship, but if you closely examine it in the environment of successful revenue marketing, a more appropriate term is ‘synergy.’ Let’s look at the definition of each term and then more fully examine this critical relationship for all revenue marketers.”

And so the 20-page ride begins to make a strong case of actual teamwork between Sales and Marketing.

Alignment:

1. Linear or orderly arrangement,

2. Positioning of something for proper performance,

3. Support or alliance.

Synergy: Synergy comes from the Greek word synergia, meaning joint work and cooperative action.

1. Synergy is when the result is greater than the sum of the parts. Synergy is created when things work in concert together to create an outcome that is in some way of more value than the total of what the individual inputs are. Which definition sounds more like a model for relationship success and for revenue marketing success? Of course, it’s synergy! Synergy is the end-state description of your relationship with Sales, so let’s further explore what this relationship looks like.

Author: Debbie Qaqish, Author of Rise of the Revenue Marketer.  Interviewed on SLMA Radio.

Cost: NA

Length: 20 Pages

From the introduction of the paper

Highlights:

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Eric Kronthal says you can connect SEO to Revenue. Listen While You Work!

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Tracking Revenue from SEO is what everyone CMO wants, but not everyone gets it.  And by "getting it" I mean the ability to track it and prove that it actually happens.  

 

  SLMA Radio host Jim Obermayer interviews Eric Kronthal and covers:

  • How he increases conversion rates by 73%.
  • How to see how much traffic to a site is caused by key words.
  • How to turn a website into a 24 hour a day salesperson.
  • How to understand the visitors pain!
  • Detecting what services are important to a visitor!
  • Tracking key words from a time a person enters the word into search.
  • How to give a visitor a one-to-one experience!
  • Listen to a case study of results for one company.

 Revenue is rallying cry for marketing, as it has been since the last recession and seems to be

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Listen While You Work: Geoff Alexander says every dollar spent on email marketing technology brings a 43 dollar return!

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Every marketer is on the hunt for marketing tools that yield an ROI for lead generation campaigns. In this SLMA Live program and podcast replay host Jim Obermayer discusses with Geoff Alexander, President of iContact, how to demystify key metrics for email marketing campaigns; and yes, he says you can absolutely measure revenue.  Alexander says campaigns today are not “one and done” programs, but follow a pattern of planning, preparing, launch, measurement, refinement and repeat.

Some notable quotes from the program:

“You can absolutely measure revenue return.”

“Software technology is continuing the conversation during the entire life cycle.”

“This is about empowering people.”

"Test, segment, optimize performance and let analytics be your guide.”

 About Geoff Alexander – President, iContact

Geoff Alexander oversees iContact’s day-to-day business operations, including strategic direction, revenue, sales, services, and marketing. Alexander has 20 years of experience in management,

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Winners never “try.” Winners only win. Trying is for Losers.

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Gerry Spence
* said, “I warn you: a winning stance is never achieved by trying.  I hear some say, ‘I will try as hard as I can.’ Trying is for losers.  Trying implies the possibility of losing.  ‘I will try to win.  I will try not to lose.’ If after trying they have lost, well they tried, did they not?  Losers always try.  Winners never try.  Winners only win.” 

There are many memorable things that Gerry Spence says in his book “How to Argue and Win Every Time,”* * and my paraphrase in this blog post title is one of them.  My dog- eared copy of

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SLMAReco Read ON24 Survey Finds B2B Marketers Plan to Double Down on Analytics in 2015

ON24 Survey Finds B2B Marketers Plan to Double Down on Analytics in 2015

SAN FRANCISCO, March 3, 2015 /PRNewswire/ -- ON24, announced the results of its new survey of B2B marketers. It finds that enterprises and SMBs alike are driving business value from implementing analytics and are planning to increase their investment in these tools in 2015. Specifically, the results demonstrate that an overwhelming 97 percent of marketers find that using analytics has made their businesses more successful, and 87 percent of the participants said they plan to increase their spend in marketing analytics this year.


Marketing Metrics That Count

Brian Carroll, in his Sept 15th blog entry The Most Important B2B Marketing Metrics for CEOs, said that CEOsexpect marketing leaders to be held accountable, and that CEOs also say they aren’t getting enough information.

Carroll continued, “CEOs expect their marketing leaders to provide metrics and be accountable in meeting their numbers, just like their expectations for sales leaders. Oftentimes, CEOs’ marketing leaders only have various activity KPIs and some squishy metrics, such as brand recognition.” 

He said, “We need to be able to answer the big picture questions, like the following.”

  1. What effect are our marketing investments having on sales productivity? On the pipeline? On revenue?
  2. What can Marketing do to lower the combined expense-to-revenue ratio of sales and marketing activities?
  3. How much am I putting in and what am I getting out? The difference between these two numbers is often expressed as a percentage.
  4. How much revenue can be directly attributed to leads coming from Marketing (i.e. the lead generation program in a specific time period)?
  5. What is the total cost of your lead generation program during a specific time period?
    1. Marketing team total compensation
    2. Vendors and outsourcers
    3. Costs and materials

Brian is right, but for many marketers, agreeing is one thing and delivering is another.  Marketers need the tools, and maybe a marketing operations manager, to deliver. 

The Tools

Let’s start with the tools.  There are marketing software packages for CMOs that allow them to manage budgets, planning, and extracting and analyzing data from CRM, ERP and marketing automation software. One such company I have been watching is Allocadia.  I haven’t scheduled a demo yet, but I like their examples.  If they can walk the talk they will answer the marketer’s need of proving return on investment.

On July 1, 2014, on SLMARadio we tackled the subject:  How to stop wasting marketing dollars on non-revenue tactics, with Michelle Jacobs and Matt Hertig of Alight Analytics.  They use a proprietary system called ChannelMix Big Data Warehouse to manage and support marketing spending on tactics and report on ROI. To listen to the program, click below.

On June 1 we had an interview on SLMA Radio with Justin Shriber, VP at C9 and the topic was:  Best hire you’ll make this year: Predictive Sales

C9 states that it provides active data services and analytic applications that improve revenue across the revenue supply chain.  They say this goes beyond the limits of CRM systems and BI platforms.  C9 gets in front of the problem of generating sales by actively predicting where sales will occur. 

Regardless of the tool or the agency you use, it is important to understand:

  1. You are not alone in doing this.
  2. Thousands of other managers have tackled this problem and won.

Our recommendation?  Follow the road map that Brian Carroll has outlined; seek out a software package or a service company to help you be all you can be (couldn’t help the last phrase). No, you don’t have to be a large company to do this, but to become a large company you will have to learn how.