Measuring Marketing ROI–> The Feedback Loop
Bitpipe released a very interesting study on best practices for Lead Generation and Management. The two findings that stood out were these:
72.6% agreed that the gap between the generation of sales leads by
marketing and the use of those leads by their sales team has made it
difficult to measure the ROI from their marketing efforts.
69% of those polled experienced difficulties in tracking contacts from
their lead generation programs through the sales cycle.
It has been our experience that these gaps are due to several structural issues. First, there is a lack of a common definition as to what a lead actually is. Second, there is minimal support from marketing once the lead is handed off to sales creating a blind prospect handshake that does not create a relationship between the two functions. Third, marketing does not follow up with sales to measure the effectiveness of their lead generation activities or ask how to further support the sales effort.
While there may always be gaps between sales and marketing forcing problems measuring ROI, it is our belief that using accurate online data (profiles, transactional data, and unstructured content) can help sales move prospects through the pipeline faster while also building a stronger reliance upon and relationship with marketing teams. These relationships can over time, help close the gap and allow for the measurement of ROI.
We continue to see online marketing evolve (especially B2B) as a better, more efficient and effective lead generator. The superior data generated helps to grow mutually dependent relationships that close the ROI feedback loop, reducing the structural impediments mentioned above.
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This entry was posted on Wednesday, December 22nd, 2004 at 5:14 pm and is filed under Uncategorized. You can leave a response, or trackback from your own site.
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