Marketing Data Tracking for Dummies

Tracking Marketing DataMarketers are often trained and highly encouraged to measure everything. A few years back this may have been true because we were not measuring enough – or anything in some cases.

Today, most companies are getting better at measuring their productivity if for no other reason than there are so many marketing channels. The mantra of, “your customer can be anywhere, so your message needs to be everywhere,” has changed.

To be cost efficient, measuring channel results is the first step in becoming a data-driven marketer – a title we should all aspire to become.

Measuring Intangibles

How do you measure reach or impact? These seem extremely vague, yet they are quantifiable.

E.g. You attend a conference and have a booth. How many new prospects stopped at your booth? How many talked with you for a few minutes? How many requested a demo or a meeting? Those are easily sorted into: Prospect, MQL and SQL.

Capturing Data

In person prospects pose the problem of getting their contact data into your database and marketing tools. In the old days, tech savvy salespeople had business card readers which were essentially mini-scanners that haphazardly entered the contact’s information into the CRM. Usually, it grabbed all sorts of data and still required a lot of editing.

Today, we have badge scanners and iPad apps that work with your systems. The manual processes have been eliminated…here. How do you measure reach or impact? These seem extremely vague, yet they are quantifiable.

 

Field Management

You probably have heard of Data Hygiene. It’s the marketing data analyst’s version of your mom yelling at you to, “Get your shoes out of the middle of the hallway before someone trips and breaks an ankle.”  I’m a mom of a teenager, so I’ve been known to say that at least once a week.

The data equivalent of not picking up the shoes is when your data goes into a system but doesn’t get attributed to the correct lead generation activity.

You need to follow that lead through your systems and make sure it picks up it’s shoes! Find the disconnected fields and fix them. This could be as easy as mapping one system to another or it may require editing the field conventions that were originally set up in your CRM.

Quantify It

You cannot measure the impact of the event on that lead without it having a value. This can be linked to average product cost, deal size or sales can further qualify it.

A process needs to be in place so each lead has a value placed on it as early as possible in your sales cycle. These values can change over time, using lead scoring and further qualification, but having the data in early is very important.

Garbage In, Garbage Out?

Not exactly. The data going in is not where the garbage is created. If it’s honestly a lead you generated or classified properly as a list or cold prospecting attempt, then its fine.

The garbage is often created when the digital thread isn’t continuous. When the lead enters your very first system, it needs to carry on through all your measurement systems.

Take time to keep the digital thread from getting knotted and your data hygiene will only suffer when humans deviate from the parameters set.

Why Account Based Marketing Is Critical in 2016

runway modelsModels – Models – Everywhere!

Calm down, boys. This isn’t the Victoria’s Secret Fashion Show website. But, now that I have your attention…the term “model” is tossed around a lot.  There are models everywhere in our businesses.

Like the runway super-models, some can be divas to work with. Or in business terms – challenging to apply to your use case. Regardless of their difficulty, if you are a B2B company of ANY size with or without salespeople, you need models to focus your marketing and revenue generation.

B2B Buyer’s Journey

When I’m getting coffee around the Bay Area, I am tickled when in my eaves-dropping (oh, you do it too) I hear two people discussing the buyer’s journey who are not marketers.

How can I tell? It’s the Bay Area. We could build an island with all the STEM professionals roaming around here.

This was not the case merely two years ago. It was all about UX as it related to the product.

The buyer’s journey differs in it is where we use psychology to think through the who, what, where, when, how and why our target accounts will consider our product.

Enter the Account Based Marketing Model

With social media ebbing and flowing, video streaming becoming the norm, mobile conversions growing exponentially, its easy to get hypnotized by Channel Based Marketing Models.

goose laying golden revenue eggWe are getting much better at measuring channel attribution and ROI, but it lends itself to channel bias. This happens when we present data to the executive team and they only see the top-line results and assume that the top-performing channel is the goose laying the golden revenue eggs.

When you consider your target as a whole, you potentially miss the important elements of influencers in the sales cycle.

Buying Decision Logic

When is the last time that a big decision at work was made by a single person? Unless you are a one person shop, never would be my guess.

The more critical, expensive or number of people it affects, the larger the committee you need to convince. Your message needs to connect to each individual on the path they are on.

Meet Their Expectations

At each stage of their journey, you need to match your content and more importantly – keywords – to their expectations. Where a researcher might need high level bullets, the influencers will want a little more.

Plan to provide content and interactions that provide solutions in an easy and digestible format.

This sounds very simple, but it’s amazing how few companies plan, test and adjust their account based marketing campaigns for the long-term. It takes patience, persistence and regular analysis.