Marketing Horror Stories: Unmeasured ROI (and What to Do Instead)

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Marketing Horror Stories

Your Hosts(Innovative Marketing Resources)Max Traylor | Director of Client Services@TheMaxTraylor

Danielle Winkler | Inbound Marketing Consultant@Dani_Winks

Imrcorp.com/innovative-marketing-blog

The State of Marketing AnalyticsOnly 37% of CMOs have quantified the short-term impact of their marketing spendingAugust 2014 The CMO Survey(only 33% quantitatively measure the long-term impact)About 40% say they have a good qualitative understanding of the impact of their marketing520% of marketers dont measure ROI at allAugust 2014 The CMO Survey63% of marketers rank marketing ROI as the #1 most important measure to gauge marketing successIBMs 2014 Global Chief Marketing Officer StudyMarketers that measure ROI are 12X more likely to generate greater return year-over-year than a lower returnHubSpots 2014 State of Inbound

More than half of CMOs feel unprepared to tackle ROI accountability (56%)IBMs 2014 Global Chief Marketing Officer Study71% of CMOs feel unprepared to manage the data explosion IBMs 2014 Global Chief Marketing Officer StudyWhat ROI is Not

ROI = Money

Horror Story Time!Higher Education (visitors)Real IMR Client (Higher Education)

300% increase in traffic after year 1. 500% after year 2.Wow if we blog we can increase traffic!

We got fired!Another horror story

65% increase in traffic from sources that generated the highest quality leads.Client attracting HR decision makersB2B ServicesWow, if we offer whitepapers we can generate leads!

We got fired!HubSpot - http://www.hubspot.com/marketing-statistics18Ok, we get it you need sales qualified leadsOr not we got fired again

Over the 3 months, we got 38 sales qualified leads (vs ~90 from organic)What we learnedThe most valuable thing marketers can do is MEASURE ROIso that you can improve every month.

Then, you will always be neededVisitors Got it!

Leads got it!

HubSpot - http://www.hubspot.com/marketing-statistics23How valuable are the leads?

HubSpot - http://www.hubspot.com/marketing-statistics24Measure and improve ROI!Every marketing investment has a different return. Lets measure it so we can improve lead volume and quality for sales!

HubSpot - http://www.hubspot.com/marketing-statistics25How to Measure ROIIDEAL: # of customers (or final revenue) by lead source (Organic? Email? PPC? Events? Referral Relationships)

Track everything!Tracking URLs are your friend!#1 Challenge for Marketers

What if you dont have access to customer information?

YOU NEED TO GET ACCESS TO CUSTOMER INFORMATIONAdditional ChallengesLong sales cycleSales doesnt follow a processSales doesnt capture feedbackSales never talks to marketing (and they dont like each other)

What you can do today (real world)Identify the marketing and sales processGet the sales team on record (what are the qualities of your favorite leads?)3. Measure lead quality (manually or with software)4. Identify marketing investments that result in the highest quality leadsQuestionsDo you know of any rich sources of financial performance data for inbound marketing programs?QuestionsCan you suggest a method of calculating ROI for clients that are just getting started with content marketing that sell very high-value ticket items ($500K-$1M)? How can ROI be improved for such transactionsQuestionsHow do you measure "free" activities (unpaid media) such as social, webinars, email blasts vs paid mediaQuestionsAny others?

Still Have Questions? Get Helphttp://www.imrcorp.com/helpThis weeks password: iloveroiStay tuned for next weeks webinarTopic: Buzzwords and Pitching Inbound Marketing to Your Managers