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If you’re a B2B marketer, the last few years have been a roller coaster ride. The pandemic has temporarily brought to a halt face-to-face events, a primary source of leads for many of his B2B companies, prompting marketers to move to digital channels. Many CMOs struggled to find ways to upgrade their martech stacks and more accurately measure the impact of their campaigns. Economic uncertainty has caused some companies to cut their marketing budgets.
At the same time, marketers continued to adopt account-based marketing (ABM) strategies. This became the go-to approach after an Intent Data Provider put his ABM into production at scale. Marketers also need to re-evaluate the ideal customer profile established over the years to respond to changes in the market, as target customers re-evaluate their priorities and curtail their spending. I had to deal with it. These are all significant changes that have occurred in a relatively short time frame.
Marketers on the B2B side may be expanding their use of digital channels, adding to their martech stacks, and adopting more ABM, but the mandate to “protect the spend” remains. In fact, it intensified. So, given all the changes in the industry, what should a marketer measure now?Here, we take a closer look at his five KPIs to track for the new era of B2B marketing.
- Activation rate: Forester is the B2B revenue waterfall It was used last year to more accurately describe the sales and marketing funnel in the context of ABM. In the new framework, marketing’s most important job is to activate accounts, and activation rate measures how a marketing campaign is performing in terms of attracting and prioritizing buying groups after intent is detected. is running. In the Forrester B2B Revenue Waterfall, high-priority accounts are roughly equivalent to Marketing Qualified Leads (MQLs) in a funnel that tracks individuals rather than accounts.
- Pipeline speed: This KPI measures how fast an account moves through the funnel. This is an important metric as it can show you which campaigns are moving through the funnel the fastest. Let’s say your company has an average sales cycle of 180 days and a particular campaign or channel closes in 90 days. So if you focus on campaigns that get a quick response, you can potentially double your sales in that time frame. Conversely, if some campaigns are taking longer than expected to drive conversions, this KPI will let you know so you can make adjustments in time to hit your revenue goals. This is a valuable metric that is often overlooked as it is difficult to calculate without the right tools.
- Volume trends: This key metric gives you a snapshot of activation trends over time. Are your marketing campaigns driving more account activations compared to the data from the previous month, quarter, or year? requires a historical record, so it can put the current data into the appropriate context. The MarTech solution, which runs within his CRM instance at the company, can report volume trends and share data across the organization, including sales representatives.
- Progress against pipeline goals: At the beginning of each year, B2B organizations set pipeline goals, and marketing and sales leaders identify the number of activations needed to reach those goals, average deal size, and more. Progress metrics against pipeline goals show where you are in relation to those goals. It is also a useful metric for facilitating marketing and sales collaboration and ensuring the integrity of group activities.
- Progress against revenue targets: This metric also facilitates alignment between sales and marketing by allowing both teams to track their progress towards their revenue goals. It can uncover key insights such as which marketing campaigns generate the most revenue, which messages drive the most deals, and which get the most responses by industry type, so marketing allows you to invest your budget and maximize your return.
Conclusion
The dramatic evolution of marketing over the past few years, combined with post-pandemic market shifts, has changed the foundation of the industry in many ways.
The overwhelming majority of B2B marketers use ABM today. Data from companies like 6Sense, DemandBase and Bombora helps marketers identify businesses that are willing to buy their products and services, providing opportunities to engage members of buying groups .
Most B2B marketers are doing more outreach on digital channels despite the resumption of in-person events, measuring performance across multiple channels (both in-person and digital) and using historical data to I need a way to compare results over time and create reports. Show how marketing delivers value. Five of his KPIs listed here can provide those insights.
These KPIs can also give marketing and sales leaders the opportunity to improve coordination across teams. In marketing, efficiency drives his ROI in two ways. More efficient processes enable teams to do more with less resources, and more efficient investment of marketing dollars allows CMOs to generate more revenue without spending more money. I can. The right KPIs can help marketing leaders achieve both.
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About the author
Bonnie Crater CEO of Full Circle Insights
Prior to joining Full Circle Insights, Bonnie Crater served five times as Vice President of Marketing and Executive at a number of Silicon Valley software companies. In 2013, Bonnie was named one of Silicon Valley’s “100 Most Influential Women” by Business Journal. In 2015, the Sales Her Lead Her Management Association named her one of her “20 Women to Watch” and in 2016 Diversity Journal named her a “Women to Watch”. Bonnie holds a Bachelor’s degree in Biology from Princeton University. Check her out on LinkedIn.
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