“The B2B marketing world has changed a lot over the past decade. One especially important new trend is the growing emphasis on measurement and analysis.”
Coming from a direct marketing background in which measurement is everything, I say, “It’s about time.” Then the paper quotes, “Today, almost 70% of B2B marketers are turning to metrics to help them justify their budgets.” This spurs me to ask, “Why would anyone in demand generation marketing want to spend one dime in marketing (not branding) if they weren’t willing and able to measure what that marketing produced?”
The reason 100% of the B2B marketers in the study aren’t tracking metrics is because it’s hard. Marketers doing true integrated B2B marketing have a lot to keep track of.
Marketing automation helps, as most of those vendor systems include features for tracking response. However, not all responses to outbound campaigns end up on a landing page. Some generate incoming phone calls or emails and many end up as visits to the company Web site. Some traditional B2B direct mail efforts come back in reply devices.
Tracking that builds accurate B2B marketing metrics and measurement takes planning, processes and personnel. In many companies, those are all in short supply.
If limited or no tracking or measurement has been done, a last-ditch analysis can still provide the most important metric. This last-ditch option is to periodically run a match back data analysis by bumping the list of prospects or the customer file against the list of sales and identify matches.
Relevate Group briefly covers how this is done in “Driving Campaign Profitability Using Match Back Response Analysis in B to B Marketing.”
The Act-On Software paper includes a long list of revenue-related metrics a company should track. However, in the end, a match back can identify the most important metric of all. That is, “How many sales and how much revenue did the marketing generate?”