We just published a new white paper, written by our Head of Sales. This time we are exploring The ”I” in ROI for marketing… how marketing and sales are merging.
ROI is not a matter of mathematics, the number crunching is trivial. The challenge is to understand the relations and correlations, especially on the result side. Lets say that there is a 9-months sales cycle and during that time different individuals in the customer organization has attended events, a couple of webinars, downloaded white papers and read blogposts… what does this mean, what can be improved?
Here is a brief excerpt of the information: “The financial term ROI, Return on Investment, is a very simple equation that shows the payback on investments. How much money you will get in return for your investment. For marketing this has been a challenging metric, since both the return and the investments has been intangible and difficult measure. On the other hand, everybody realizes that it is a very important metric to follow up.
ROI can be either a very detailed number or more of a concept. The strictly financial investments can easily be measured and compared, but the result in terms of business outcome for each marketing activity and combinations of marketing activities are more challenging.
But there are other metrics, besides the actual monetary outcome, that are relevant. For example, you can measure the number of new leads or the pipeline value to compare the marketing cost per lead or marketing cost per pipeline dollar. This will enable you to compare different channels or messages as well as to follow up the long term trend. In a faster paced B2C business we can trace the actual sale and compare it to the marketing activities.”
To find out more and get access to this white paper, go to the Musqot Marketing Performance Management page and make a request to download.