The Marketing Metrics That Matter – i♥marketing (Part 6)

The Marketing Metrics That Matter – i♥marketing (Part 6)

Editor’s Note: Our recent regional imarketing user conference included six rapid-fire sessions on best practices for each stage of the customer lifecycle: Attract, Capture, Nurture, Convert, Report, and Expand. In this post, product manager Noel Rabinowitz covers the key points of the Report rapid-fire session.

i-heart-marketing Report whiteboardKnowing how to use the data and the behavioral analytics your company collects from its marketing touch points can help you outflank the competition and gain advantage in your market.

There’s a huge volume and variety of data captured by your marketing systems. To capitalize on the digital signals that prospects, customers and the market send, you want to focus on the main metrics that matter – the metrics that inform action at a given phase of your marketing efforts.

The web is the main touch point for discovery today. This gives you the opportunity to track the behavioral activity a prospect may have with your online assets from click to download, to open, to page visit and more, and also firmographic/demographic information such as company size, the visitor’s title, geographic information, etc. These nuggets of information help us as marketers do our job of segmentation and nurturing even better.

The signal-to-noise ratio

One important thing to keep in mind: All data is not created equal. Some has value; call it “signal.” Some has no value; call that “noise.” Learning which things to track and pay attention to, and which to ignore, is an important skill in itself. As Act-On CMO Atri Chatterjee likes to say: “It’s not about big data; it’s about the right data.”

signal to noise quote

Reporting through all stage of the customer lifecycle

As discussed in previous i♥marketing posts, the marketing framework we’re using for discussion has five stages: Attract, Capture, Nurture, Convert, Report, and Expand.

customer lifecycle stages

marketing metrics for attracting new customersAttract

 Three questions to answer:

  • What content is being consumed?
  • How many people consumed our content?
  • How often do content consumers share our content?

Your bottom line: Increase visibility and audience with more impressions and conversation

 

marketing metrics for capturing new leadsCapture

Three questions to answer:

  • How many content consumers became known visitors?
  • What calls to action are most effective? With what audiences?
  • What channels are most effective?

Your bottom line: Increase known prospects in the funnel

 

marketing metrics for nurturing prospectsNurture

Three questions to answer:

  • How many Marketing Qualified Leads?
  • What automated programs are most effective?
  • What’s driving lead scores up?

Your bottom line: More prospects qualified to buy

 

marketing metrics for converting prospectsConvert

Three questions to answer:

  • How many Sales Qualified Leads?
  • What campaigns are most effective at closing opportunities?
  • How often do content consumers turn into customers?

Your bottom line: Higher quality leads at less cost per lead and less cost per customer

 

marketing metrics for customer retentionExpand

Three questions to answer:

  • How many resells, upsells?
  • What customer marketing campaigns and programs are most effective?
  • How often do customers turn into repeat customers?

Your bottom line. More revenue from existing customers.

Some of the marketing metrics that matter will be obtained through your marketing automation platform, and others will be in external systems. Reporting is the key to measuring and understanding results, which in turn helps marketing become accountable – and sets the stage for changes to come.

Want to learn more right now? Visit the Act-On Center of Excellence see the entire range of materials created to help you be a more successful marketer.
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