Reporting and analysis is not something everyone enjoys. However, it is necessary and hugely beneficial, especially with tools like Marketo or Salesforce.
Most of our clients at some point in time ask “what should I be tracking?” Obviously, key metrics differ for every business. At Elixiter, however, we recommend at least reporting on the following top level metrics at least every quarter:
- How many leads or contacts did Marketing or Sales create?
- How many leads or contacts moved to a key revenue stage or status – such as MQL (Marketing Qualified Lead)?
- How many opportunities were created and how many opportunities were closed won/lost?
- What percent of leads are moving to a key revenue stage or status?
- What percent of opportunities are moving from open to closed won/lost?
- How fast are leads moving from one revenue stage/status to another stage/status?
- How long does it take for an opportunity to move from open to closed won/lost?
- How many open opportunities is Marketing influencing?
- How many closed opportunities is Marketing influencing?
- What is the cost per success for a given Marketing channel or program?
- What is the cost per new name for a given Marketing channel or program?
Using the key metrics above, it should be easier not only to prove Marketing’s value in your organization, but also help you analyze what is working and where you should invest more Marketing dollars.
Happy number crunching!
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