Three-Types-of-Marketing-Key-Performance-Indicators-for-Success - Introduction Weve been hearing it for some time nowmarketers need to earn a seat at

Three-Types-of-Marketing-Key-Performance-Indicators-for-Success

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Introduction We’ve been hearing it for some time now—marketers need to earn a seat at the revenue table. But how do you go about doing that? It all comes down to proving—and improving—marketing’s contribution to the bottom line using metrics that matter. For too long, marketing has been seen as a cost center. And it’s not hard to see why—marketers have traditionally struggled to quantify the return on their marketing spend. It’s no wonder, when they have been focused on metrics that undermine their credibility in the eyes of executives. We’re talking about vanity metrics such as Facebook Likes and the number of Twitter followers that sound impressive but don’t measure the impact of revenue on profitability. We also mean activity metrics that measure what you do—such as record webinars, write blog posts and run campaigns—instead of the result and impact of those activities. We are also referring to metrics that frame marketing in terms of costs instead of outcomes and revenue contribution. If you report on your cost-per-lead, for example, you’ll only be asked to reduce that cost over time. If you can’t pin down the revenues your marketing initiatives and programs are driving, how can you make smart decisions about future spend? 2 // THE 3 TYPES OF KEY PERFORMANCE INDICATORS FOR SUCCESS
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Monitor Success with the Right Measurement Tool To elevate your status and value in the organization, you need to measure Key Performance Indicators (KPIs). A KPI is any measure of an activity for a marketing or business initiative that allows you to understand the ROI of your activities. This refers to the programs, messaging and content you create and share using your marketing automation platform. KPIs are important because they demonstrate how marketing impacts the business. They indicate both progress and challenges, and provide a benchmark so marketers can continually evolve and improve their efforts. By using a proper mix of tactical, strategic and operational KPIs, marketing can quickly and emphatically evolve into a revenue center and earn a seat at the executive table. KPIs allow a better understanding of where to allocate marketing budget based on where you’ve realized success—or failure—to date. 3 // THE 3 TYPES OF KEY PERFORMANCE INDICATORS FOR SUCCESS
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Tactical KPIs are the Best for Channels These metrics are relevant and valuable for marketers to understand how well they are performing in a specific channel, such as email, mobile, social, and the web. Measurement usually centers around buyer behaviors, such as opens,
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  • Summer '16
  • Schmith
  • Marketing, Marketo

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