Through measuring your lead generation campaigns you can show real return on investment to your investors. As a marketer, measurement is key to proving your success, and Dayna provide different ways to measure your lead generation campaigns.
- [Instructor] You are putting so much time, money and effort into your lead generation campaigns and it's critical that you include measurement as part of your overall lead generation strategy. As a marketer, you want a seat at the revenue table. So you want people in your organization to view the marketing department as somebody that's a real revenue contributor. Through measuring your lead generation campaigns, you can be seen as that type of contributor to the company bottom line and not a cost center. So I think this is something that plagues the marketing team and has for some time only recently have real measurements come into play as a big part of how marketing needs to deliver to the executive team.
So while in the past marketing was seen as more of a cost center or arts and crafts, today, because of technology, because of the ability and the need for marketers to be so analytical, marketers can now be seen as a real revenue driver and they can get that seat at the table alongside other key groups. Measuring your lead generation efforts helps you show your value to the C-suite. So you want to show your executive team, you want to show your board exactly how marketing contributes to the bottom line and measuring your efforts will do this so they can show how marketing contributes directly to closed deals.
So by measuring things like sourced or marketing influence, you can directly show how marketing works along with sales in order to close a deal and increase revenue for the overall organization. Measuring your lead generation efforts can help you have a higher return on investment on all of your programs. So because you are being a lot more thoughtful and you are looking at deep analytics into all of your programs, you can have a much higher ROI moving forward because you are only focusing your time and efforts on the programs that are returning value.
It also helps you be resource-efficient and effective. Again, you want to make sure that you are focusing your time and effort, energy and budget on only the programs that move the needle. As a marketer, there are many programs that you'll do but not all of them will be effective for your organization. Not all of them are going to drive pipeline or deals and by having measurement as really part of the fabric and the culture of your marketing team, you can really be much more focused and effective with all of your resource allocation and then of course it can actually help you increase budget year-over-year.
If you can show how your lead generation efforts map directly to closed deals and business objectives, it will be a lot easier for you to increase your budget year-over-year because you do have these bottom line metrics that you can show your executive team. So what are the different levels of measurement? So I found that different levels of people within your organization need and want to see different things. And as you're thinking through what your measurement is going to look like, what are the different things that you are going to measure and how you will measure them, you do want to think about a few different levels of reporting.
So your C-suite. So this is high-level overall marketing contribution so your C-suite might include anyone from your CMO, maybe even your VP of sales, maybe your CFO and then in some cases the board as well. So these folks, they don't want to get deep down into the weeds of the different things that you're doing. They want to see high-level overall marketing contribution to pipeline and closed deals. They want to see how marketing is affecting the business as a whole. So the next level down you have marketing leadership and marketing leadership could be your CMO or your VPs or even at a director level.
So in addition to overall marketing contribution, your marketing leadership is also generally interested in channel performance and ROI. So what channels are performing best? Where should they allocate more budget? And then what's the return on investment for all of the channels as well as the programs? Your marketing leadership will be concerned about budget. They will be concerned about showing that the money that they are spending is really gaining returns. So then the next level down for measurement is program managers.
So your program managers, you'll want them to be constantly looking at program performance and ROI. So this is kind of the most deepest level of measurement that you'll have. Very very specific to each individual's function. You do want your program managers to own from end to end what they're doing and that means having a very solid understanding of how each program performs so that they can choose programs moving forward that only perform well. So now, many organizations, you will have a C level member or a marketing leadership person who does want to see all of these different types of things.
So for me for instance I'm a VP of marketing and I need to see all of these different levels of measurement. I do get very in the weeds as far as channel performance and program performance goes. I am a more of a demand gen focused marketer so that's a big reason there but for me personally, all of these levels of measurement are incredibly important. So I do want to start out by going over two very important types of measurement that you will be using especially when it comes to reporting out to your C-suite, executives or the board.
So we have first-touch and multitouch attribution. So what do I mean by these two things? So for first-touch attribution, that means leads, opportunities and deals that are sourced by marketing. So in other words, marketing brought this lead or this account into your system. So for instance, if you have a deal that closes in a particular quarter, you can look back in time either through your CRM, marketing automation or through a reporting tool and you can see where that lead was originally sourced.
So if that lead was sourced by a marketing program like an event or a webinar or a piece of content then that account and that deal should get credit for first-touch attribution for marketing so that you can show your sales team and you can show your executives, hey, marketing actually sourced this lead which makes your programs incredibly powerful. So the other type of measurement that you should be using is multitouch attribution. So multitouch attribution is the marketing impact on all leads, opportunities and deals.
So this shows how marketing influences accounts throughout the entire buying journey. So as opposed to sourced which is just kind of a one time thing, as we know, marketing is more than just a one touch situation. Because of how modern day buyers make their purchase process, because there's often multiple decision makers with an account, multitouch attribution becomes incredibly important to show influence throughout the deal cycle.
- Identifying funnel stages
- Defining key goals and metrics
- Deciding on an approach
- Building a lead generation plan and a team
- Aligning with stakeholders
- Choosing a lead generation technology
- Building attractive content
- Generating leads with blogs and social media
- Creating an SEO strategy
- Tracking ad performance
- Increasing visibility through events
- Using paid ads and direct mail
- Qualifying leads
- Measuring campaign effectiveness