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Marketing ROI

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on 10 June 2015

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Transcript of Marketing ROI

Who Measures ROMI?
63% of CMOs perceive measuring ROMI will be the main corporate measurement in the future
Gee, Bob... I sure would like to know how this will translate into sales...
What is ROMI?
ROI = (Gain - Cost) / Cost
Benefits of ROMI
Analyze and identify marketing programs that are working
Challenges of Measuring ROMI
Knowing when to measure
Developing ROMI Metrics
Not a perfect science
- don't let a quest for perfection be the enemy of good
Revenue Metrics: Marketing Leads
THANK YOU!
Measuring Return on Marketing Investment
Driving Revenue & Profitability
56% of CMOs surveyed do not feel well-prepared to measure ROMI
17% of CMOs not currently measuring ROMI at all
Chief Marketing Officer Council/IBM survey
Ex: $10,000 advertising program
Gross $100,000 in sales, $40,000 in profit
ROI = ($40,000 - $10,000) / $10,000
= 3 or 300% or 3:1
More accurate budgeting and marketing planning
More Revenue Metrics
Conversion Metrics
- Measuring from one funnel segment to the next
Start at beginning of sales cycle
Don't quit too soon!
Multiple Touches
Extraneous Variables
Organizational Structure
Be Consistent
Attribute all ROMI value to the tactic that
originally
brought prospect
Assign ROMI value to the
last
marketing activity
Environmental Scan
Collaboration is Key!
But...
Don't be so consumed with reporting results,
it gets in the way of creating results
Knowing
something
about your ROMI is better than knowing
nothing
...
Focus primarily on metrics that speak directly to the bottom line - avoid "soft" metrics
"Not everything that can be counted counts..."
Revenue Metrics
Activity Metrics
Inquiries /
Raw Leads
Ex: Prospect fills out a form at a trade show or on the website
MQLs
Marketing Qualified Leads
Based upon agreed qualities
(ex: $ minimum revenue,
level of contact)
SQLs
Sales Qualified Leads
Accepted and actively pursued - Lead now associated with potential revenue value
Conversion rates
Time-to-conversion rates
Nurturing Metrics
- Measuring tactics to move prospects back into the sales pipeline
Lead nurturing
Re-engagement metrics
Activity Metrics
Benchmarking Metrics
Measuring Brand Awareness
Website Metrics
Website Conversion Rates
Visitor-to-Customer
Email Marketing
Click-Through Rates (CTR)
CTR = Unique Clicks / Emails Delivered
Road to Marketing ROI Success
Shift from tactically based metrics
to metrics linked to financial and business outcomes
Email/E-newsletter open & click-through rates
Website visits & page views
Content asset downloads
Website form completion & abandonment rates
"Not everything that can be counted counts...
... and not everything that counts can be counted."
Visitor-to-Lead
Lead-to-Customer
Specific Keyword or Search Phrases
Unique Landing Pages
Referring URLs
If under performing vs targeted conversion rate... examine the landing page
Start with simple metrics
If measuring ROMI, add incremental improvements
Objective: Measure economic value
Goal: Improvement!
Identify which are under-performing - reallocation of budget
Identify ways to improve marketing programs
Builds proactive accountability of staff
Justify time and effort
And...
Brand Survey Parameters
Pre- and post-marketing surveys
Third Party
Not about you, but about the industry
Blind Survey - Anonymity is crucial!
Target: Best customers, Periodic customers, Highly-desired prospects
Brand Survey Metrics
Focus on metrics including:
Brand awareness - your company & competitors
Brand relevance
Differentiation
E-Newsletters vs Promotional E-Mails
Rick Verbanas
rverbanas@cmasolutions.com
609.269.2458
GoToCMA.com
Full transcript