9 Return on Investment Marketing Tips
Enhance Market Penetration Strategy and Tactics for Better ROI
Fix the following 9 B2B Marketing Automation issues and you’ll see your ROI improve immediately:
One: Limited market visibility: Most B2B companies have just 5% to 25% of their high priority targets fully identified in their marketing/CRM database and tell their senior executives that they have more than 90%.
Two: Poor market coverage: 70% of enterprise solution buyers report when a purchasing need arises, it is unlikely that they have heard from any potential suppliers in any fashion, including contact from a salesperson.
Three: Outdated lists: D&B states that depending on the market, data decays between 2% and 4% per month.
Four: Modest outbound sales effort: Sales reps only spend up to 18% of their time calling on new business opportunities on average.
Five: Not leveraging “best sales person”: 69% of senior-level enterprise executives’ regret that marketing and sales functions are not more tightly integrated and aligned.
Six: Half efforts wasted, disappointing results: Most enterprise executives admit that at least 50% of their marketing investments are wasted; they just don’t know which half. And, they feel that most efforts are lukewarm at best: Enterprise executives rated their lead generation initiatives a 5.8 (1-10 scale) on average.
Seven: Lack of measurement: Global 1000 enterprises spend more than $1.25 trillion in marketing and marketing output, yet it remains the least measured and accountable enterprise function.
Eight: Poor Follow-up or Misplaced leads: More than 70% of all leads are never acted upon, poorly worked or lost in the system.
Nine: Little integration: Only 10% of all B2B enterprises offer integrated multi-channel sales processes that include face-to-face, tele-services (centralized prospecting) and web.
Source: Gartner, Patrick Marketing Group Cahners & Yankee Group
Get Your Database Right
In sales the fastest way to improve sales results of almost any sales organization is to instituted a program of weekly sales coaching; some say improvements of 20% are common. In marketing the fastest way to improve results is to improve the marketing database.
Quit Doing “One Off” Campaigns
Many and maybe most marketing campaigns in most companies are “one off” campaigns. This just means that each campaign is one message, not part of a sequence and has no planned follow-up from marketing. The issue is that while as many as 45% of responses will buy within 12 month of responding 10% or less will buy within 30 days. The implication is that without nurture and follow-up most of the selling opportunities are lost. Further, those that are identified as a result of the campaign to be “off target” are not recorded as such and scarce marketing dollars are wasted marketing to them over and over again.
Start Doing Integrated Campaigns Using Marketing Automation
Marketing Automation driven integrated campaigns facilitate nurture and alignment with the target market that provides you with the best opportunity to harvest most of the sales possible from any target market. If your competitors are not using marketing automation to fully engage the market and you are the result is fairly predictable; you will win more and pay less per win than they to do so.
Because it is difficult to compete without it.
Are you ready to enjoy marketing automation? Contact Eric at 503-635-2319 or firstname.lastname@example.org