Get Revenue Marketing Analytics Right for 2018
6. Collect Requirements
Collect requirements from the marketing directors for what reports they need to make better decisions. The process is the same as outlined above, but the reports are likely to be at a higher level and aggregating several geographies and product classes together.
Examples of reports a director is likely to want on a monthly basis with trend lines include:
- Marketing sourced opportunity count and value by region, product group, net new vs. returning.
- Marketing influenced bookings/revenue by region, net new customer vs returning customer.
- Content engagement reports (best and worst content).
- Website unique visitors trend.
- Campaign results summary including events, newsletters, etc.
- Database quality report trends.
- MarTech adoption and usage reports.
- Acquisition cost per lead by channel/source and same for MQLs and SQLs.
Do You Need Special Technology for Analytics?
When you are just starting out doing Revenue Marketing analytics, you will be best served by not trying to solve your problems with some bright shiny new technology. The majority of your initial reporting issues will be related to fixing data and process issues. New technology will simply postpone the inevitable realization that you have to deal with those issues first before you can get good reports.
Use your CRM, MAP, web analytics, Kapost, Libsyn, Sprout and excel to create all those initial reports. This will allow you the time to truly understand your reporting requirements from different teams and management levels. And you will get a good enough window into your data that you can find and fix the data and process issues.
After your first three to six months of serving the teams working in the trenches, and as you collect the requirements for the director level marketing attribution reporting, you will begin to experience some hurdles. These hurdles are either very laborious or nearly impossible to surmount without some new technologies such as FunnelWise, Bizable, Domo, GoodData, Birst or Lytics.
Next month we conclude our Revenue Marketing journey blog series, with the 17th post. Please share your experiences with initiating marketing results reporting and other insights on the above topics in the comments section below or email me at firstname.lastname@example.org.
Kevin Joyce is VP of strategy services for The Pedowitz Group. He's a marketing executive with 34 years of experience in high tech, in positions in engineering, marketing, and sales. In the past 16 years Mr. Joyce has worked with many companies on their revenue marketing and demand generation strategies. With a unique combination of marketing skills and sales experience he helps bridge the gap between sales and marketing.
Mr. Joyce has successfully launched numerous products and services as a Director of Product Marketing at Sequent, as a Director of Sales at IBM, as Vice President of Marketing at Unicru, and as CEO at Rubicon Marketing Group. He has been VP of Marketing Strategy with the Pedowitz Group for more than six years. He holds a BS in Engineering from the University of Limerick, Ireland and a MBA from the University of Portland. Connect with Kevin on LinkedIn or email him at email@example.com. Download TPG’s new white paper: "TPG ONE: A New Approach to the Customer Journey."