Today’s show will demonstrate how to make marketing scientific through the use of a marketing operations department. To follow along, download our 10th annual workbook, How to Make Your Number in 2017. Turn to the marketing operations phase on pages 248 – 251 of the PDF.
Joining us today is Arnaud Kraajvanger, the Vice President of Marketing Insights and Operations for Genesys. Genesys provides customer experience contact center solutions. More than 10,000 companies in over 100 countries trust the industry’s #1 customer experience platform to orchestrate seamless omnichannel customer journeys. Listen as Arnaud describes how marketing operations is in a unique position with more data than ever to have a significant impact on the business.
Listen as Arnaud describes how to measure the effectiveness of the marketing team. Arnaud’s team works with all functions within marketing and develop specific KPI’s for each and track the KPI’s throughout the buying cycle.
Why this topic? Well, data is everywhere, channels are exploding, technology is changing, executives require more detailed reporting and marketing can no longer rely in intuition, and experience is no longer enough.
During the show, Arnaud provides a brief overview of how each key area of marketing is tracked. For brand awareness, share of voice is tracked. From a public relations standpoint, social shares are the KPI. For analyst relations, the degree of analyst coverage and ranking compared to the position of the competition.
For DemandGen KPI’s there is a focus on opportunities pipeline and wins, with an emphasis for us on driving new logo pipeline. Arnaud describes how the marketing operations team is transitioning more to a revenue marketing model where it’s less about just the numbers of opportunities, numbers of leads, but having everybody focused on the revenue outcome. What is the dollar value that you’re generating in pipeline, open pipeline, and wins? The other DemandGen metric that is more sophisticated is influence of deals. How does marketing influence the win rate through marketing engagement?
A critical function for marketing, especially in complex B2B software sales cycles is the training and enablement of the sales force with the right tools to be successful. Arnaud’s team measures how marketing help sales improve their ability to sell and win more. He looks closely at win rates and that’s the shared KPI that marketing carry with sales.
Arnaud and I discuss the following questions throughout the show to demonstrate how to transition to a more scientific marketing department.
- How do you measure the effectiveness of the marketing team?
- Please describe your analytics strategy.
- Please describe the data and systems architecture that supports the marketing ops team.
- How do you calculate the cost to acquire a customer?
- How do you calculate the life time value of a customer?
- How do you make sure your forecast is accurate?
If you need more help making marketing scientific, I encourage you to visit with my team of experts at The Studio, our executive briefing center in Dallas, Texas.