Here’s a scenario: You are using a Marketing Automation Platform that’s connected to a CRM system like Salesforce. You are touching your database records at least once per month, maybe twice. You’ve made a substantial investment to be where your prospects are on the web and are collecting an ever-increasing percentage of leads through PPC, SEO, SEM, etc. You’ve even experienced some success with the B2B go-to social channel LinkedIn. Some inquiries are tele-qualified before they are sent to the field and you’ve incorporated chat. Wahoo, we’re livin’ in marketing nirvana…right?
Are your marketing investments and all the activity generated actually having the impact on revenue they should be? How can you tell?
Well, you can look at the average performance or best-in-class Demand Waterfall performance from SiriusDecisions and see how you stack up. Or you can compare this quarter’s performance to one year ago. Both are solid options. Or, you can perform the following simple diagnostic to determine if your company has all the necessary pieces aligned for optimal revenue performance:
- Has your team invested the time to ensure that Sales and Marketing are truly aligned? Is there a defined (and signed) set of SLAs between these two groups that articulates how Marketing-produced leads will be valued and acted on by Sales, and that Marketing will give Sales what it wants?
- Are marketing investments actually impacting/influencing a significant percent of net-new revenue (20, 30, 40 percent of net-new)? Do you know the levers to pull that will have the greatest revenue impact for 2013?
- Whether managed internally or through a collection of agencies, are your processes streamlined and silo-free for optimal velocity along the journey from inquiry-to-lead-to-revenue?
Marketing automation integrated with CRM does not mean smarketing success. As Mark Galloway posted recently, there is no silver bullet to ensure marketing success. Positive answers to the above questions will mean you are well on your way.