9 Measurement Tips to Improve Your Relationship With Your CMO, Jon Russo – Founder, B2B Fusion Group

9 MEASUREMENT TIPSTO IMPROVE YOUR CMO RELATIONSHIP

WHAT IS YOUR BIGGESTCHALLENGE MEASURING MARKETING IMPACT?

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3

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1 Data Quality: We have incomplete, inaccurate, or missing data that impacts KPIs – or makes measurement impossible

Alignment: Our sales and marketing nomenclature is not defined, agreed upon, documented, or consistently used

Tools: We have marketing automation & CRM, but measure in Excel … and the Excel reporting is not credible internally!

Process: We 'Set and Forget' our reporting and processes, hoping for accuracy

POLL

Elevate the thinking around KPIs, ROI, and metrics from executive viewpoint

FROM TODAY’S PRESENTATIONKEY TAKEAWAYS

Aspire to measure the business, not justify marketing’s existence

Think more about data as the single fundamental ingredient of measurement success

RELEVANT DASHBOARD EXPERIENCE

IMPROVE PERFORMANCEHow do we track, trend, and

improve our sales & marketing close performance?

SALESHow can we optimize CRM processes & data

quality to improve sales productivity?

MARKETINGHow do we generate

more sales ready leads and track our

Marketing ROI business impact?

MEASURING MARKETING ROI

WHAT OUR CLIENTS SAY…

Corey LivingstonSr. Director, Marketing.Level (3) Communications

B2B Fusion transformed our lead generation practices and with Full Circle, provided me credible dashboard reporting to use with my CMO and others in the organization. Now I can finally report on marketing impact to the business. I recommend B2B Fusion without reservation.

WHAT OUR CLIENTS SAY

Toby Lee,CMOThomson ReutersTax and Accounting

B2B Fusion transformed our lead generation practices and provided me credibledashboard reporting to use in 4 business units in 3 global geographies. I recommend B2B Fusion without reservation.

WHAT OUR CLIENTS SAY

INDUSTRY CHALLENGE

2 in 3 US CMOs are feeling pressure from executives or board to prove marketing’s value

A Surprisingly Difficult Industry ChallengeMEASURING MARKETING ROI

45% of CMOs expressed confidence that they know which metrics or business outcomes their key stakeholders care about

9% of enterprises achieved accurate and credible marketing impact reporting.

IBM 2011, N=1733, The CMO Survey 2013, N=410, Forrester 2013, N=179, Aberdeen 2014, N=250, 2014 Duke University CMO Survey, N=351

1BENCHMARK

YOUR ANALYTICS (AND LEAD GEN)

MATURITY

2CREDIBILITY:

AVOID STARTING WITH “DISPLAY

AND PRAY”

TIP #2 – CREDIBILITY - AVOID STARTING WITH “DISPLAY AND PRAY”

3ADAPT (DON’T ADOPT)

FRAMEWORKS, EXECUTE FLAWLESSLY

NurtureFunnel Width = Quality + Quantity of Leads

LEAD GENERATEDINSIDE SALES

Efficiency = Processes & Speedfrom Inquiry to Close

TIP #3- ADAPT (DON’T ADOPT) FRAMEWORKS, EXECUTE FLAWLESSLY

SALES ACCEPTED LEAD

LEAD GENERATED QUALIFIED LEAD

SALES QUALIIFIED OPPORTUNITY

CUSTOMERS

MARKETING QUALIFIED LEAD

INQUIRIES

ALL NAMES

MARKETING

SALES

4CREATE A

MARKETING FORECAST

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1 TIES MARKETING TO SALES = REVENUE BASED GOALS

CREATES URGENCY AROUND POORLY PERFORMING AREAS

PUTS MARKETING PERFORMANCE ON MAIN STREET

BENEFITSTIP #4 - CREATE A MARKETING FORECAST

TIP #4 - CREATE A MARKETING FORECAST

5DON’T PRESENT

JUST MARKETING. COMPARE & INTERPRET.

TIP #5 - DON’T PRESENT JUST MARKETING. COMPARE & INTERPRET.

6CREATE A

GAMEPLANAROUND DATA

PATHOGENS

Inaccuracy Duplication Incomplete Records

Incomplete DatabasesMis-targeting Mis-matched databases

The 6 data pathogens …TIP #6 – CREATE A DATA GAMEPLAN AROUND 6 DATA PATHOGENS

JohnSmith

JohnSmith

7TRANSLATE DATA

INTO C-SUITE LANGUAGE AS

MARKETING ROI TIES TO DATA

QUALITY

25% OF A FIELD SALES REP’S SELLING TIME IS WASTED WITH INCORRECT DATA

POOR DATA INHIBITS REVENUE PRODUCTIVITY

30% OF SALES REP’S OVERALL TIME IS SPENT ON RESEARCH

HIGH QUALITY DATA CORRELATES TO 39% MORE CLOSES & 66% MORE REVENUE

TIP #7 - TRANSLATE DATA INTO C-SUITE LANGUAGE AS MARKETING ROI TIES TO DATA QUALITY

Integrate2015, Gartner 2013, IDC 2013, Alinean 2013, Discover.org 2013, Data.com

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TIP #7 - TRANSLATE DATA INTO C-SUITE LANGUAGE AS MARKETING ROI TIES TO DATA QUALITY

8MAINTAIN CAMPAIGN

CONTINUITY – AND CREDIBILITY – THROUGH

DATA STEWARDSHIP

Jane Doe

Tip #8. Maintain campaign continuity and credibility through data stewardship

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John Smith

Converted Lead...

John Smith

Webform

WebinarReg

Jane Doe

Tradeshow

Unconverted/unmerged duplicate lead…

Campaigns ARE brought to contact

Trial

Campaign NOT brought to contact

Campaigns brought to opportunity by contact roles if campaign attached to contact

Acme, Inc.

Opportunity

Webform

Trial

Missing Tradeshow

Missing Webinar Reg

Missing campaign influence on opps due to unconverted duplicates

Most recent campaign gets ALL the creditDuplication/hygiene exacerbates:• Contact/account already

existed – didn’t catch them• Real lead source obscured• All other campaigns get no

credit

Jane Doe

John Smith

Webform

Trial

9ASK RELEVANT

QUESTIONS

ASKRELEVANT

QUESTIONSWhich questions do you

know would equal business impact?

HOW DO I GET A SINGLE VERSION OF THE REPORTING TRUTH?

HOW DO WE REPORT ACROSS LEADS AND CONTACTS?

HOW DO WE KNOW WHAT OUR TARGET MARKET UNIVERSE

CONTAINS?

HOW DO WE GET SALES TO HONOR OUR SLA?

HOW DO WE CLEANSE OUR DATA WITHOUT BREAKING ANYTHING?

HOW DO WE CREATE A RELIABLE REPORTING STRUCTURE?

HOW DO WE STOP BREAKING CAMPAIGN VISIBILITY BETWEEN NAME AND CLOSE?

HOW DO WE TRUST HOW OUR MARKETERS MEASUREMENT OF

THEIR OWN CAMPAIGN RESULTS?

TIP #9 – ASK BUSINESS-RELEVANT QUESTIONS

ELEVATE THE THINKING AROUND KPIS, ROI, AND METRICS FROM EXECUTIVE VIEWPOINT

CONCLUSION

ASPIRE TO MEASURE THE BUSINESS, NOT JUSTIFY MARKETING’S EXISTENCE

THINK MORE ABOUT DATA AS THE SINGLE FUNDAMENTAL INGREDIENT OF MEASUREMENT SUCCESS

Inaccuracy Duplication Incomplete Records

Incomplete DatabasesMis-targeting Mis-matched databases

The 6 data pathogens …IF INTERESTED – A WHITE PAPER ON DATA MANAGEMENT FOR EXECUTIVES

JohnSmith

JohnSmith

SAMPLE OF CUSTOMERS & KEY MENTIONS

JON [email protected]

linkedin.com/in/jonrussoexecutive@b2bcmo