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Marketing Effectiveness

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It’s (Almost) All About Results
Marketing departments are now under more pressure than ever to deliver results that can be tangibly measured. Although creative or brand marketing still exists as a subset of the marketing profession, today’s Modern Marketers are expected to fill the sales pipeline and demonstrate that outbound marketing efforts are having a clear impact on deals won and revenue generated.

What to Measure When You Measure
It’s true that different companies may consider marketing programs successful for different reasons. But there are a few core metrics that most organizations assess and value when it comes to determining the impact of their online and content marketing programs.

Most organizations today measure:
  • Email Opens: How many recipients of an email campaign actually opened the email?
  • Click-Through-Rate (CTR): What percentage of those who opened the email actually clicked a link or button within the email to take advantage of the offer?
  • Form Conversion Rate: What percentage of those who clicked through actually finished the process by completing a form?
Tracking marketing effectiveness by these measures helps marketing departments determine if their campaigns have been successful in compelling prospects to take a desired action. Marketers can then fine-tune their strategies in the midst of a campaign while keeping executive management posted on how Marketing is helping to generate revenue. But only form conversions provide insight into how many leads are actually being generated. And none of these metrics offer a view of how marketing campaigns impact revenue. That’s why marketers need an even higher level of analysis.

Taking the Next Step with Closed-Loop Marketing
To truly understand the effectiveness of any campaign, you must be able to track everything that happened after Marketing touched the leads that campaign generated. Closed-loop marketing is the practice of analyzing the entire chain of events that influenced a prospect to purchase a product. It involves examining the impact a specific campaign (or many campaigns) may have on revenue.

By tracking all campaigns that influenced a successful deal, Marketing can cite attribution for its share of the revenue generated, and can even determine the ROI of specific programs. To do so, Marketing must have visibility into where their leads end up in the sales funnel, and must be able to tie their campaigns to individuals or companies so they’ll know when a deal has been completed. By "closing the loop” between a completed campaign form and that prospect becoming a customer, Marketing can report with confidence on the ROI of marketing campaigns – and demonstrate with confidence their impact on revenue.

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