Which stage of marketing analysis are you in?
There are lots of questions marketing people would like to ask regarding marketing analysis:
“how could we evaluate our marketing plan?”
“There are so many data and objects in Marketo, how can we know whether our marketing strategy meets our expectation to marketing performance. ?”
Frequently used objects in marketing reports include Lead, Program, Activities, and most of the companies are focusing on the Lead analysis. They are generating reports to see the best channels and programs which bring the most new-names and new leads. Take email program as an example, activities such as Email open and Email click could quickly let us evaluate the effectiveness of a specific eDM and the amount of new leads it has generated. But, what is the next step? How much percent in this new-leads are going to become an opportunity or even generate revenue? Marketing is not just about the visibility (what we see) but the real thing is the revenue they brought in (what it brings).
To answer those questions, we could not stay in the early stage of analytics anymore. I will introduce the 3 stages of analytics and how we can do analytics reports in each stages.
- Early Stage=> New name acquisition
- Mid Stage =>Buyer journey analysis
- Late Stage => Marketing impact ROI
Focusing on new name acquisition, we engage Programs, campaigns and lead activities to see how many people we have reached and how many of them have been engaging in our campaigns. Furthermore, For some programs which generate lots of new-names but also cost lots of money may result in high cost per name. In this situation, we should use those analyses to evaluate whether we should keep this program or how to cost down.
For the new-names we could make reports like….
- Which channels bring in the most new names with least cost?
For each money spent on a program, we need to know the most effective one which is . To accomplish this, we could simply combine the Program and cost per quarter to get the result.
- How is cost per new name trending by Channel? What’s the cost per Program in recent years?
By adding the year trend into the analysis, we could see the change of cost for different channels. In below case we could see the cost for social is decreasing so this may be an opportunity for us to use social channel more to promote our campaigns.
In addition to those basic analyses for new names, we could also evaluate the effectiveness of each channel using Activity data for deeper analysis.
- What are the top 10 visited webpages by given groups of customer
This report shows the top 10 visited webpages from customers who have downloaded the free trial or registered the live demo webinar. We could tell from this report that Blog’s visits are not as high as other social platform such as Twitter and LinkedIn, but we will post our articles on social platforms. In this situation, we may consider to generate more high quality articles to attract visitors on Blog. In addition, Facebook has the highest visits among the social platforms so we could adjust our marketing strategy to put more budget and focus on Facebook. By this deep analysis on program, we could evaluate our website and keep revising our marketing strategies.
For the method of merging objects and more examples for Early Stage report
These are just some examples of reports. By combing different object and data, you could also tell the insights of each reports to seize the trend of marketing.
How about Mid-Stage reporting? Mid-Stage focus more on the consumer behavior and the buyer journey from Lead to Opportunity. We could tell from those reports that which program is the most effective for attracting leads to become our potential opportunity.
Go to the next topic=> Mid-stage analysis (Coming soon)
Source : Marketo summit 2016