When I was UK Marketing Manager for Dolphin Telecommunications, more years ago than I wish to remember, I was responsible for the generation of appointments and leads for nearly 200 sales people.
Given the huge expense of such a sales team, Dolphin’s board were rather keen to understand their performance and so I was tasked with delivering a Report containing the outcome of all marketing and sales activity, based upon key performance indicators (KPI’s). For example, that included the number of appointments/leads, the cost for each, close ration, average order value and average revenue per unit (ARPU). My bonus was initially based upon achieving a marketing cost per unit sale of £24 which was later reduced to £18 so I had to prove my worth – which really concentrated the mind on ‘joined up thinking to deliver better results’.
The Importance of Marketing and Sales Cooperation
PWC were in an unending process of delivering a CRM system called Vantive, so I had to use spreadsheets to capture and collate all the feedback every Friday to prepare for presentation to the Board on Monday morning. It was a complicated process that we got reasonably slick with over time, but it meant that the full cooperation between Marketing and Sales was vital. Fortunately we had a good working relationship.
So when I hear about Demand Gen Report’s 2018 Marketing Measurement & Attribution Benchmark Survey. I wonder what on earth has been going on for the last 20 years! Why isn’t this a norm?!
This Report says: ‘measuring marketing performance is both a top priority and a major challenge for most B2B marketers’ and ‘87% of the survey respondents said that measuring marketing performance is a growing priority for their company, but more than half (54%) also said their ability to measure and analyse marketing performance needs improvement or is poor/inadequate.’ (WHY?!!!!) The point is that if you capture the process of what you are doing, you can understand the outcomes – its just ‘joined up thinking to deliver better results’.
And then Forrester Research in a Report last September’s 2018 report, announces, that ‘the widespread interest in measuring marketing performance indicates that the demand for performance measurement software is poised to grow substantially.’ It should not be an interest but prerequisite of the role!!
The need for measuring and reporting marketing activity has never diminished, in fact it has increased with social and digital media. Every marketer must know what is working, how well and what is not. The rule should be, if you CANNOT measure something then don’t do it! It is all about continual process improvement and, if I can measure the performance of 200 sale people with Excel spreadsheets many years ago, why marketers haven’t today learnt to do the same.
A software solution would be great, but if you don’t understand all the marketing processes in the first place, the question is – do you know what you are doing, should you even have a job?!!!
That is why we provide joined up thinking, to deliver better marketing results!