Many B2B companies have annual sales and marketing goals... and consistently miss these. For sales, annual targets can make sense due to the length of sales cycles (however many pros recommend quarterly targets). Marketing success on the other hand relies on frequent feedback and constant testing.
Topics: demand generation
When it comes to account-based marketing (ABM), a lot of marketers get hung up with implementation. How do I create personalized content? How do I get ahold of the right people at all my target accounts? Why is it taking so long to show results?
While these are certainly important, it’s useful to step back and start with a strong understanding of your objectives and goals.
- Which metrics are you trying to move?
- How will you know if you’re succeeding?
In order to have successful implementation, you need to really understand what you’re trying to do. These metrics will help you plan your strategy and campaigns, as well as act as guard rails to keep you on track and on pace to achieve your goals.
How many times have you managed marketing in Excel?
What B2B marketers try to answer with average conversion rates and forecast models in Excel, often leads to plans that are time consuming to create, unwieldy, and lack forecasting accuracy.
With the advancements in martech today, marketers are able to move out of Excel to accurately forecast and plan for revenue. Here’s how to do it.
Michelle Huff, CMO at Act-On Software, started her tenure nearly a year ago and shortly thereafter reviewed the entire marketing technology stack to ensure that Act-On was realizing the value of each technology.
Topics: marketing attribution
I'm proud to announce that Gartner has named Bizible a "Cool Vendor" after analysis by Noah Elkin, Research Director of Multichannel Marketing at Gartner.
Building an annual B2B marketing plan is no simple task. The plan must provide a strategy to transform business objectives into marketing priorities and goals, while outlining how to execute and reach those goals. According to SiriusDecisions, Inc., this tends to result in the creation of a plan that falls into one of two categories-- overly complex plans that are hard to understand and therefore not actionable, or overly agile plans that create a lot of activity, but not enough business impact.
To help B2B marketers create an actionable, digestible strategic marketing plan, SiriusDecisions, Inc. created “The Marketing-Plan-on-a-Page Template.” In this post, we’ll go over the key takeaways in the template and how you can apply them to improve the marketing planning strategy at your organization.
More and more, marketers are being tasked with not only being able to answer questions about top and middle-of-the funnel demand performance (e.g. leads and opportunities), but greater business questions. Where do we need to invest to hit revenue goals this quarter? How do we increase deal velocity? What marketing programs can we enact to help the sales team increase win rates?
To answer these bottom-of-the-funnel questions, B2B marketers, at organizations like UserTesting, turn to their attribution data.
A revenue plan is a set of revenue targets with an accompanying plan to reach them. High quality data, forecasting techniques, and large Excel spreadsheets are the typical tools marketing leaders use to build a revenue plan. Unfortunately there is a flaw in the typical forecasting process.
The Flaw Of Averages
One of the fundamental elements of a typical revenue plan is the conversion rate used to estimate growth. In order to decide how much to spend and where to spend it, we must rely on a single, average conversion rate for each channel. For example:
Paid search converts from a lead to opportunity at 8% on average.
And leads from organic search convert at 6% on average.
So to create a revenue plan you coordinate revenue targets, say $100,000 in MRR, and the use your conversion rate to understand how much you must invest.
But there's a pitfall in using an average conversion rate for revenue and annual planning.
As more and more CMOs of B2B organizations become responsible for driving revenue, it’s becoming necessary for them to adopt a revenue attribution solution. Previously, marketers could be satisfied with generating leads or opportunities and calling it good. From a measurement perspective, channel analytics and marketing automation could satisfactorily track marketing performance to leads. But to effectively track revenue, revenue attribution is a must.
So what is revenue attribution?
Learn then execute. Learn then execute. CMOs and marketing leaders today are increasingly trying to close the gap between learning and creating impact through revenue planning and execution.
Marketing performance management (MPM) encompasses the technologies and processes that enable marketing leaders to reduce cycle times between learning and execution. In this post we'll introduce a process to evaluate and improve your MPM.
Topics: marketing performance management