1. @janetdmiller | @marketingmojo | marketing-mojo.com
MEASURING MARKETING ROI
Janet Driscoll Miller
Marketing Mojo
November 10, 2016
2. @janetdmiller | @marketingmojo | marketing-mojo.com
ABOUT MARKETING MOJO
• Digital marketing firm founded in 2005
› Search Engine Optimization
› Paid Search Advertising
› Display and Social
Media Advertising
› Marketing Automation
› Analytics Consulting
• Headquartered in Charlottesville, VA
› Office in Charleston, SC
3. @janetdmiller | @marketingmojo | marketing-mojo.com
ABOUT TODAY’S SPEAKER
• Founder of Marketing Mojo
• Over 20 years of
marketing experience
› Experienced in
» Marketing automation
» Analytics
» Salesforce.com
12. @janetdmiller | @marketingmojo | marketing-mojo.com
WHICH MODEL(S) WILL YOU CHOOSE?
• Single source
› First touch
› Last touch
• Factoral
› Linear
› Time Decay
13. @janetdmiller | @marketingmojo | marketing-mojo.com
SINGLE SOURCE MODELS
• First Touch
› Gives all credit to the first
channel/campaign
› Set once and never changes
• Last Touch
› Gives all credit to the last
channel/campaign
› Always updating, but can be “locked”
down 1 2 3 4 5
15. @janetdmiller | @marketingmojo | marketing-mojo.com
FRACTIONAL SOURCE MODELS
• Linear
› Gives equal credit to all
channels/campaigns
› Always updating, but can be “locked”
down
• Time Decay
› Gives most credit to the last
channel/campaign
› Always updating, but can be “locked”
down
22. @janetdmiller | @marketingmojo | marketing-mojo.com
Website Visit
MQL
SAL
SQL
Closed Won
HOW DO YOU TRACK IT ALL?
Google Analytics
Marketing
Automation
CRM
23. @janetdmiller | @marketingmojo | marketing-mojo.com
MQL
SAL
SQL
Website Visit
HOW DO YOU TRACK IT ALL?
Google Analytics
Marketing
Automation
CRM
Closed Won
24. @janetdmiller | @marketingmojo | marketing-mojo.com
HOW DO YOU TRACK IT ALL?
• Step 1: Analytics
› Set up a nomenclature
› Tag your marketing campaigns
25. @janetdmiller | @marketingmojo | marketing-mojo.com
GOOGLE ANALYTICS TAGGING
• Passes information from your
destination URLs into
Google Analytics
• Tagging is automatic in Google
AdWords by default
• https://support.google.com/
analytics/answer/1033867?hl
=en
26. @janetdmiller | @marketingmojo | marketing-mojo.com
HOW DO YOU TRACK IT ALL?
• Step 1: Analytics
› Set up a nomenclature
› Tag your marketing campaigns
› Set up goals and/or ecommerce tracking
» Note: Limit of 20 goals per reporting view
› Website
» Ensure you have Google Analytics code on all pages of
the website
• Consider using Google Tag Manager
27. @janetdmiller | @marketingmojo | marketing-mojo.com
SQL
Closed Won
MQL
SAL
Website Visit
HOW DO YOU TRACK IT ALL?
Google Analytics
Marketing
Automation
CRM
28. @janetdmiller | @marketingmojo | marketing-mojo.com
HOW DO YOU TRACK IT ALL?
• Step 2: Marketing Automation
› Make sure your CRM and marketing automation
program are integrated.
› Set up programs to update information and
track clicks.
› Set marketing automation to update fields
accordingly.
» i.e., first touch: never update the lead source field if it has a
value in it.
30. @janetdmiller | @marketingmojo | marketing-mojo.com
SQL
Closed Won
MQL
SAL
Website Visit
HOW DO YOU TRACK IT ALL?
Google Analytics
Marketing
Automation
CRM
31. @janetdmiller | @marketingmojo | marketing-mojo.com
HOW DO YOU TRACK IT ALL?
• Step 3: CRM (ex: Salesforce.com)
› Set up CRM to track appropriate
attribution model
› Also edit your forms!
» If you’re using first touch attribution, you’ll want to only update
the lead source field once.
› For fractional attribution, create a custom field.
» If you’re using time decay, add a date stamp.
› Create campaigns to track in CRM
» Tracks sales/value back to actual marketing campaigns
38. @janetdmiller | @marketingmojo | marketing-mojo.com
COST PER CONVERSION/LEAD
• Helps to determine which platforms are
driving leads at best cost
• Good first step in measuring platform
effectiveness
• Most ad platforms include this measurement
› Also measure in Google Analytics
39. @janetdmiller | @marketingmojo | marketing-mojo.com
COST PER OPPORTUNITY
• Not all leads are equal
• Find out which channels drive the best quality
leads
• Measure via marketing automation or
CRM report
› Combine with cost data from that channel
40. @janetdmiller | @marketingmojo | marketing-mojo.com
PIPELINE
• Measures potential sales and opportunities
for the sales team
• How do various channels compare for
improving pipeline?
41. @janetdmiller | @marketingmojo | marketing-mojo.com
COST PER ACQUISITION
• Cost per sale
• Is the cost to acquire less than the profit
margin?
› Are you potentially spending too much to acquire
new business?
• Which channel(s) have the lowest cost per
acquisition?
42. @janetdmiller | @marketingmojo | marketing-mojo.com
LOST SALES
• Are there channels that drive more losses
than wins?
• Perhaps these channels had less qualified
prospects?
43. @janetdmiller | @marketingmojo | marketing-mojo.com
LIFETIME VALUE
• The ultimate ROI measurement
• Initial CPA may be high, making a channel look
less valuable, but average lifetime value (ALV)
may indicate greater worth
44. @janetdmiller | @marketingmojo | marketing-mojo.com
NEXT STEPS: ROI WORKBOOK
• Measuring Marketing ROI Part 2:
ROI Workbook
• December 1
• https://marketing-mojo.com/part2
45. @janetdmiller | @marketingmojo | marketing-mojo.com
CONTACT INFO
JANET DRISCOLL
MILLER
President and CEO
Marketing Mojo
434.975.6656 x101
jmiller@marketing-mojo.com
@janetdmiller
Editor's Notes
First off, I’d like to apologize to all of you.
As we developed this webinar, we realized there was so much information to cover that we decided it should be split into two webinars.
So we’ll be having a follow up webinar on December 1 that will be a walkthrough of our ROI Workbook. I’ll have details on that webinar and how to register at the conclusion of the presentation.
The reason you track is to
Prove marketing value
See what is most efficient – what’s doing well – and what is not
How do I get better?
What is the best marketing mix?
Some data we own
Some we don’t
The challenge is getting to the data we need to make informed decisions
POLL NEXT!
This is only a lead/contact lead source
This is the simplest way to look at this – for a single contact or lead
You may have multiple leads/contacts that affect a sale
Therefore we’ll talk about how to look at this data across an opportunity shortly
We use both first touch and last touch
First – what brought them in? We created an original lead source field
As seen here, it is only updated once
However, the main lead source is updated every time
Most people cannot do this, but it is the goal
It is closed loop reporting
It’s why you want to integrate all the way through
THIS IS NOT EASY!
Many times Marketing does not own the CRM
BUT CRM holds the key to much of the data we need to get actual ROI and tie marketing to sales and revenue
Drilling down to the CRM level gives us actual revenue that we can tie to our efforts
And that’s why this is so hard to do
You are giving sales visibility into what marketing is doing.
It shows your value directly to sales.
Shows all of the effort marketing is making around the opportunities that sales is working.
This is especially helpful for CMOs and top level marketing execs to show value at this level.
Know what marketing activities created pipeline
Know what created closed won and lost opportunities
What created revenue?
