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Measuring Customer Journey Success
Marketing Performance in B2B
Adwin [email protected]
@Adwin_G
Shimon Ben [email protected]
@shimonbenayoun
In co-operation with
#b2bnlspotONvision - B2B marketing that sells
We design and implement integrated sales & marketing programmes to lead your buyers and customers along their journeys
GoToWebinar:
“Chat” or “Ask a question”
or
Twitter hashtag #b2bnlTwitter @spotonvision
#b2bnlQuestions?
[Customer logo]
B2B Marketing: From ROI to Customer Journey Success
Managing customer journeys is CMO’s top challenge
Source: ‘The CMO Dilemma: Bridging the Gap between Love and Money’ Abedeen Group
• 96% of CMOs: Poor data quality & data management
• Rapidly changing consumer habits and their channel preferences
What are the challenges?
Increasing pressure on CMOs from their executive boards to deliver return on investment (ROI)
The benefits of improved understanding of both customer data and their buying journeys is, according to Aberdeen Group’s research, a 54% greater annual
improvement in the return on marketing investment (ROMI) metric.
These marketers also increase revenue from customer referrals by more than 300%.
The reward
The new challenge
How do we manage customer journeys?How do we know what works?For which buyer persona?Where in the customer journey?How can we track & optimize results?
What about Marketing Executives in the Netherlands?
Source: From ROI to Customer Journey Success, spotONvisionAvailable for download as of March 2016
Do they allocate budgets along customer journey stages?
The Customer Journey
B2B: Buyers and Customers
Poll
What portion of your marketing budgets do you typically spend on Lead Generation & Acquisition programs?
A. < 25%B. 25-50%C. 50-75%D. > 75%
Marketing needs to align
Why?
Marketers can become customer centric and accountable
Marketing Customer
How can we put this into practice?
Marketers should create integrated programs along the customer journey
Marketing programs are linked to one buyer/customer
Marketing programs have a central theme, based on the buyer’s/customer’s needs
How do we create integrated programs?
1. ProgramsThe overall plan. One buyer persona. Central theme. Can involve multiple journey stages.
2. DialoguesSet of tactics. One journey stage. Content matches information needs for that stage.
3. TacticsMarketer’s means to engage. Online. Offline. (eg Webinar, Events, Email, SEA, Online display, Whitepaper, Video)
3 building blocks
Marketing Customer
“Customer experience is the sum of all interactions”
Example: Wouter
Dialogue: Awareness1. Online display2. Infographic3. LinkedIn
Dialogue: Consideration4. Whitepaper5. eDM6. Webinar
Dialogue: Purchase7. Sales enablement8. Free consult
Program: Marketing ROI
“I need to prove marketing ROI.”
How to measure success
Customer Journey results can be measured on three levels:
1. Program
2. Dialogue
3. Tactics
Total program results (new, existing)
Results per stage (eg awareness, consideration)
Results of individual tactics (eg webinars, whitepapers)
Program success
Metrics on program level provide insight into total performance in terms of business outcomes.
Return New
Marketing leads generatedPipeline generated from marketing
leadsDeals won from marketing leads
Revenue generated from marketing leads
Return Existing
Opportunities createdOpportunities won
Marketing influenced revenueMarketing attributed revenue
Operational metrics
Campaign ROIMarketing cost per lead
Marketing cost per customer acquiredAverage deal size
Dialogue success
Dialogues have different roles in the journey and so they have different return metrics.
Awareness Consideration Decision Initiate
ReachImpressionsPage views
VisitorsClicks
Gross Rating Points
DownloadsParticipation events
Info requestsForm submits
Marketing Qualified Leads
Sales Qualfied LeadsOpportunities
createdDeals won
Order IntakeMargin
ChurnRepeat buys
Contract durationNet Promoter Score
Engage
Retention, prolongation
Order Intake cross-sell
Order Intake upsellNet Promoter Score
Advocacy
Revenue referralsTestimonials
Brand mentionsNet Promoter Score
Operational metrics
Conversion ratesLead score development
Tactic
Tactics have their own return and operational metrics. Return metrics need to be placed in the context of the dialogue they are used in
6. The clarity testIs any ambiguity possible in interpreting the results?
7. The so-what testCan and will the data be acted upon, i.e. is it actionable?
8. The timeliness testCan the data be accessed rapidly and frequently enough for action?
9. The cost testIs the measure worth the cost of measurement?
10. The gaming testIs the measure likely to encourage undesirable or inappropriate behaviours?
Checklist for measuring marketing success
1. The truth test Are we really measuring what we set out to measure?
2. The focus test Are we only measuring what we set out to measure?
3. The relevancy testIs it the right measure of the performance measure we want to track?
4. The consistency testWill the data always be collected in the same way whoever measures it?
5. The access testIs it easy to locate and capture the data needed to make the measurement? The Ten Measures Design Tests – Prof. Neely
Optimization: what works well for which buyer and in which stage?
Use historical data to evaluate and optimize performance of tactics for different buyers and customers.
• Experiment with tactics• Explore channels and platforms• Capture data per program and
dialogue• Share learnings, continually
improve
From customer journey to customer value
Eventually, everything you do will impact customer value. “Aim to recover your CAC in <
12 months, otherwise your business will require too much
capital to grow.”
“It appears that LTV should be about 3 x CAC for a viable
SaaS or other form of recurring revenue model.”
End- to-end program control
1
Program Response Modeling
2
ROI Dashboard Development
3
Cross-Channel Optimization
4
Data-Driven Lead Prioritization and
Pipeline Acceleration
5
Attribution Modeling and Effectiveness
Evaluation
Experienced companies that have access to historical data and market data can make smarter choices and continually improve marketing programs.
Program launch: target setting, response
simulation
Track program results real-time
Optimize tactics and channels
Identify high potential leads
Evaluation and attribution
Upcoming: B2B Marketing Forum - Come visit us March 17
More information
Adwin [email protected]
@Adwin_G
Shimon Ben [email protected]
@shimonbenayoun
Contact us directly in case you want to know more about measuring customer journey success.
Special offer
A free one-to-one
consultation to all webinar
attendees
Stay tuned for more customer journey webinars:
Customer journey dashboards (May 2016)Customer journey optimization (TBD)
Heeft u vragen, neem contact met ons op!
Bedankt voor uw aandacht!
[email protected]+31 (0) 20 705 58 88
