The Definitive Guide to Marketing Metrics and Analytics
How marketing metrics and analytics can benefit you
The role of marketing is constantly evolving, and more than ever, marketing has to prove its impact on the success of the business. With the pressure increasing, marketers must take control over the revenue process with insight into marketing’s impact on revenue.
Marketing is the new advertising—the key to the customer acquisition kingdom. That means metrics are critical to success. A Deloitte and Duke University CMO Survey revealed that 42% of organizations report using marketing analytics for decision making, yet according to Forrester Research, 77% of global B2B marketing decision makers cite their use of data and analytics to guide marketing decisions as one of their department's top five weaknesses.
Building analytics into your marketing strategy empowers your marketing and sales teams by giving you the ability to measure the impact of each marketing investment. Data enables marketers to confidently identify which parts of the marketing efforts deliver the optimal return on investment (ROI), including the performance of channels, specific calls-to-action (CTAs), and individual pieces of content, such as blog posts or gated resource guides.
With the right marketing analytics, you can accurately forecast results and measure the progress of each marketing activity against the defined milestones, providing real-time marketing optimization and accurate long-term marketing planning. The right marketing analytics provide the info needed to know how to frame, justify, grow, and defend marketing activities and budgets.
What’s in the guide?
- Establishing a culture of accountability
Learn how marketing analytics are and should be used to drive ROI and create alignment across marketing and sales organizations around business focus and impact.
- Planning programs with ROI in mind
It’s essential to plan your programs with ROI consideration from the start. The most successful companies measure ROI to find out what works better. They focus on not just proving ROI—but improving it. Learn how to set and measure against key performance indicators (KPIs) to build and drive marketing program success.
- Creating a framework for measurement
The best marketing programs have intentional measurement strategies. By learning how to create an optimized marketing program, you’ll be able to show marketing’s impact on business and revenue growth throughout the buyer journey: awareness, acquisition, conversion, and retention. You should be able to answer these three questions: What will you measure? When will you measure? How will you measure?
- Embracing revenue analytics
The first step in revenue cycle analytics is defining the stages of the cycle from prospective buyer awareness through activation, engagement, conversion, and retention. In this guide, you’ll learn how revenue attribution analytics drive an end-to-end revenue engine by aligning marketing and sales against the same KPIs.
- Marketing performance measurement
Learn how to implement the three most important and effective analytics frameworks:
1. Business impact: How marketing actions impact revenue outcomes, such as a customer’s lifetime value (LTV) and customer acquisition cost (CAC)
2. Channel: How each channel performs in terms of increased conversion rate (CVR), cost per action (CPA), brand awareness and reach
3. Campaign: How an individual campaign performs, including sales lift (via sales qualified leads or SQLs), average order value, and return on marketing investment (ROMI).
- Mastering the art of forecasting
When marketing takes responsibility for the early stages of the revenue cycle, they have better visibility into future revenue compared to sales forecasts. That is why it’s essential that you know how to model the stages of the revenue cycle, measure how each lead type moves through the stages, predict accurate inputs on future new leads, model the flow of leads over time, review the results, and apply judgment to finalize the forecast.
- Building dashboards to inform decisions
Well-built marketing insight dashboards will provide a complete view of how each activity impacts the user journey from visitor to prospect to customer. Learn how to set objectives and key results (OKRs), how to identify the marketing metrics that feed into them, and how to identify the metrics that matter most to hitting OKRs.
- Implementation across teams, tactics, and technologies
The success of your marketing measurement program depends on how well you implement it. Ensure that you measure strategically, maintain financial integrity, and cultivate a culture of continuous improvement. Learn how to set the right team, tactics, and technology in place to create an environment that enables success.
Ready to leverage the power of hard data and insights to quantify the value of your marketing efforts? Download the Definitive Guide to Marketing Metrics and Analytics.