Marketo and other marketing services firms suggest a variety of methods and metrics to use as you become a Revenue Performance Marketer. If you are just getting started with Using Marketo Analytics, you may want to spend some time with your team to decide what should be reported on.
The Common Metrics Others Use
According to a 2011 Lenskold Group Study, 48% or more of Highly Effective Marketers use the following metrics in their reporting:
- Percent of Revenue Contributed by Marketing
- Opportunity Revenue
- Avg Revenue per Won Opportunity
Successful marketers also calculate ROI metrics such as ROMI, NPV, or profitability per channel. The same survey indicated nearly 80% of marketers were tracking
- Lead Quality
- AB Testing
- Lead Funnel Metrics
- Campaign and Channel Performance
- Lead Handoff Process (MQL->SAL)
Developing a marketing reporting system takes time and thought. I recommend using Marketo to update existing reports while working on a set of reports which better match the lead funnel. Marketo’s Definitive Guide to Marketing Metrics is an excellent course for learning how to do this.
For establishing targets, Lenskold’s Lead Gen Calculator is a solid bet if you do not already have a good system.
Translating Marketo’s suggestions into Marketo reality. So how do you setup your systems to get closer to what Marketo does?
What Works for Your Business?
Step 1: Establish Goals
Step 2: Design Programs to be Measurable
Using Marketo and your CRM means you are halfway there.
Step 3: Focus on Decisions Which Improve Marketing
You do not have to measure everything. Measure the activities that matter to your business.
If you want to learn more about setting up a sales funnel inside Marketo — without Revenue Cycle Analytics — sign up for my email list to find out when the full Guide is available. There are 126 pages of Using Marketo Analytics now, so be prepared!