Data drives insights that empower marketing leaders with the intelligence to make sound decisions. The best B2B marketing ops leaders identify key performance indicators that are critical to business success. They build reporting and systems strategies around those metrics. It is hard to execute a Marketing Strategy to grow revenue faster than your competitors. Leverage the How to Make Your Number in 2018 to access a revenue growth methodology to hit your number quarter after quarter, and year after year.
SBI works across 20+ industries, helping marketing leaders optimize their efforts. In doing so we’ve identified five top marketing metrics that help accomplish that goal: percent of revenue contribution, percent of pipeline contribution, number of leads generated, lead quality, and revenue attribution by channel.
1. Percent of Revenue Contribution
The first metric measures marketing’s contribution to the top-line growth number. Outstanding marketing ops leaders do not shy away from this metric. Rather, they embrace the opportunity to show and drive revenue contribution. They know that best-in-class marketing functions contribute upward of 30 percent revenue. This metric is critical to the business.
2. Percent of Pipeline Contribution
The second metric tracks the percent of opportunities that were touched at least once by marketing during the sales process, regardless of whether that touch-point occurs at the beginning or the end of the sales process. This is all about ensuring that marketing works with sales to close business.
3. & 4. Number of Leads Generated and Lead Quality
The third and fourth metrics work hand- in-hand. By measuring both, marketing ops leaders validate if sales is getting the right quantity and quality of leads.
5. Revenue Attribution by Channel
The fifth metric attributes each dollar of revenue back to the marketing activities that sourced, converted, and propelled an opportunity to a win. Tracking attribution for all marketing activities that helped influence the revenue provides the clearest view of marketing impact. Marketing leaders make the most of their budget by putting more resources against the channels with the highest attribution.
World-class marketing ops leaders embrace these five metrics along with other telling performance indicators that provide vital insights into what drives business success for their company.
Revenue attribution is a challenging topic. Marketers are always looking for ways to demonstrate that their investments are connected to revenue generation. New tools allow marketers to leverage metrics that show how various marketing investments impact the company. Attribution modeling is a data-driven approach to measure the monetary impact on lead conversion, opportunity creation, and revenue generation. Download our SBI Magazine Special Issue: Revenue Attribution.
Would you like a hand with revenue attribution to make marketing more scientific? Plan a workshop with the SBI team of marketing experts in Dallas at The Studio, SBI’s multimillion-dollar, one-of-a-kind, state-of-the art, executive briefing center. The immersive sessions accelerate your adoption of revenue attribution and put you on the right path with a solution and implementation plan.