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Archived Research

2005 Marketing ROI & Measurement Benchmark Study

Lenskold Article Series

by Jim Lenskold

2005 Marketing ROI & Measurement Benchmark Study

Our first research study back in 2005 set the baseline for use of Marketing ROI and measurement practices.  
  • Benchmark research on marketing ROI adoption
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  • What are the primary measurement challenges?
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  • Where is there greater profit potential?
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  • How do marketers drive decisions using intuition vs. measurements, and how does this influence marketing performance?
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  • Recommendations for moving further with marketing ROI adoption

An interesting highlight is how ROI measurement abilities where pretty far from expectations.

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Archived Research

2006 Marketing ROI & Measurement Trend Study

Lenskold Article Series

by Jim Lenskold

2006 Marketing ROI & Measurement Trend Study

The second marketing ROI and measurement study in 2006 showed the initial trends within insight into measurement funding.


  • Which measurement methodologies are marketers using?

  • How does proper funding of the measurement budget influence marketing performance?

  • How does marketing ROI influence executive perceptions of marketing?

  • Recommendations for moving further with marketing ROI adoption with a special section for getting started

Here is the first trend in marketing ROI use we captured. Since the chart is not clear, those saying yes in 2006 was 26% compared to 18% in 2005.

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Archived Research

2007 Marketing ROI & Measurement Study

Lenskold Article Series

by Jim Lenskold

2007 Marketing ROI & Measurement Study

In this research archive, you’ll find additional attention the executive perceptions on marketing’s financial measurements in addition to the points below.  
  • What marketing practices beyond measurements are most important for managing and improving marketing profitability?
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  • How do higher growth companies differ in their use of marketing analytics, value-based targeting, and funnel management?
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  • Recommendations for process areas to improve profitability

Here is a highlight of a finding related to executive confidence.

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Archived Research

2008 Marketing ROI & Measurements Study

Lenskold Article Series

by Jim Lenskold

2008 Marketing ROI & Measurements Study

In this research archive, you’ll find additional detail into data access and quality. 


  • How well are marketers capturing critical data and intelligence?
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  • Where are the marketing data shortfalls?
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  • How does marketing data management influence marketing effectiveness and efficiency?
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  • Recommendations for 10 steps to better leverage data and intelligence

Highlights:

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Archived Research

2009 Marketing ROI & Measurements Study

Lenskold Article Series

by Jim Lenskold

2009 Marketing ROI & Measurements Study

This research was completed in 2009, just after the economic downturn in 2008. The study includes very interesting insight into how marketing ROI and measurement increase in importance when budgets get tight.


  • How is marketing ROI adoption trending over time?
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  • What is the impact of economic changes on marketing?
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  • How does the presence of marketing operations function impact marketing performance?
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  • What characteristics exist for high growth firms and highly effective and efficient marketing organizations?
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  • How can marketing ROI and measurements create a competitive advantage in a slow economy?

Here is a highlight that is very relevant in terms of economic pressures. Download the report for more details.

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Archived Research

2008 Lead Generation ROI Study

Lenskold Article Series

by Jim Lenskold

2008 Lead Generation ROI Study

This was the first research that branched off to dig into B2B Lead Generation marketing (the general marketing research continued in during this year as well). 


  • Benchmark study for B2B Lead Generation Marketing
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  • What are the most important lead generation objectives to drive high performance?
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  • How is marketing balancing lead quantity vs. lead quality metrics?
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  • How does alignment with the sales organization drive highly effective lead generation marketing performance?

Here is a featured highlight from this study:

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Archived Research

2010 B2B Lead Generation Marketing ROI Study

Lenskold Article Series

by Jim Lenskold

2010 B2B Lead Generation Marketing ROI Study

This research archive offers good insights into using marketing ROI and measurements to guide lead quality and lead nurturing marketing.

 

  • Which types of lead generation marketing programs are most effective at driving high quality leads?
 
  • What are the strengths and shortfalls for current measurement practices for lead generation marketing?
 
  • Where are the best opportunities to improve lead generation ROI and support incremental budget? (Hint: good info for your lead nurturing programs)
Key issues of measuring and improving lead generation marketing effectiveness were explored in the 2010 Lead Generation Marketing ROI Study. The results were drawn from 231 respondents who indicated that they were marketing practitioners in B2B companies (half or more of their revenues generated from business customers), whose marketing group generates leads for a sales organization or channel partners. The full 31 page report includes detailed findings, recommendations and incorporates comparative adoption from 2008 to 2009. This 2010 research study with B2B lead generation marketers explored practices and priorities for using measurements and return on investment (ROI) to improve marketing effectiveness. Several key findings emerged from this research:  
  • Marketers with sufficient insight to estimate the profit potential from an increase in lead generation marketing indicate that there is untapped profit potential. Of those B2B lead generation marketers providing an estimate of the incremental profits from a 10% increase in their budget, 6 in 10 expect a profit increase of greater than 10%. The challenge is that almost half (44%) of the B2B lead generation marketers surveyed lack the insight to estimate the profit potential, responding “don’t know” when asked how much could profits be increased with the additional 10% increase in marketing budget.
  • Highest profit potential lies with nurturing stalled leads, reported by 58% of lead generation marketers. Close to half indicated that all other areas examined also have untapped profit potential. This is very consistent with the results of 2009 where nurturing also topped the list.
  • B2B lead generation marketers using ROI metrics were more likely to anticipate much greater growth than their competitors (22% vs. 10% of all others).
  • Organizations that use marketing ROI metrics reported higher use of lead quality measures based on customer revenue generated from the initial sale (51% vs. 21% of organizations that use only non-financial metrics) and lead quality based on sales conversion rates (63% vs. 34%).
View this webinar for detailed findings, conclusions and recommendations from the 2010 B2B Lead Generation Marketing ROI Study. Here is one of the many findings from this research:

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rio resources Article Library

Marketing to Customers, Channel Partners, & Influencers: How to Manage Multi-Funnel Complexity

Lenskold Article Series

by Jim Lenskold

Marketing to Customers, Channel Partners, & Influencers – How to Manage Multi-Funnel Complexity

Many companies need to win more than just the support of the customers to generate sales. Some companies sell or distribute their products/services through independent channel partners, such as brokers, resellers, distributors, or retailers. In addition, some companies are dependent on strong influencers, such as professionals compensated for their recommendations, expert reviewers, or independent funding sources who are paying for all or part of the purchase. Weakness in any one area can be detrimental to overall sales despite showing strengths with one particular target group. So where and how do you most effectively invest your marketing budget across these separate targets to successfully generate sales?

 

This is where the funnel approach becomes even more important and works best when established to manage multiple funnels as a single, integrated approach to driving new sales. These decision funnels will include the stages each target must pass through to purchase, sell/distribute, or recommend. Stages that include awareness, needs definition, consideration, engagement, preference, and action (much more detailed for actual use) represent what marketing must influence and where customers may “leak” if they fail to reach the desired outcome.

Managing multiple funnels can simplify these complex business models and help you 1) understand how decision funnels for target groups relate to one another, 2) identify where and how your marketing impacts funnel progression and leakage for each target, and 3) quantify both plans and performance evaluation to improve ROI.

Creating a Multiple Funnel Framework

While marketers using the funnel typically define the funnel stages from the company perspective, the funnel becomes much more strategic and actionable when defined from the customer perspective. Figure 1 shows high level funnel stages for each target group and an example of how they might relate to one another.

Influencer Impact

Influencers can play a significant role as customers reach the stage of researching and evaluating their options to address a need or problem. When influencers are recommending alternatives to your products/services, they create leakage points where customers decrease their consideration and purchase intention. When your marketing effectively wins greater support from more influencers, the impact will show an increase in these early evaluation stages of the customer purchase funnel.

Channel Partner Impact

Similarly, marketing to expand your channel partner penetration or increase the performance of existing channel partners selling or distributing your products/services ultimate impacts many areas of your customer funnel. The impact can shift perceptions and actions with the most important being a lift in sales conversions. Marketing organizations sometimes miss the opportunity to get better returns from investments to improve the effectiveness of their channel partners over investments into additional branding or demand generation.

Customer Impact

Customers typically drive the ultimate purchase decision, although channel partners and influencers can initiate the purchase direction or create significant purchase barriers. Marketing direct to the customer when strong channel partner or influencer relationships are present is likely to have an impact on the decision funnels of these other target groups as well. Marketing efforts may be directed at creating strong brands and high demand among customers that will increase performance from channel partners and win support from influencers. Or marketing strength with consumers can create enough demand to generate sales with limited channel and influencer support. This pull-through strategy can impact the customers’ choice of channel partners (such as the iPhone’s influence on AT&T sales) or impact the influencers’ decisions (such as a physician’s willingness to prescribe a specific brand based on a patient’s preference).

Developing a more detailed version of this multi-funnel for your own business model provides clarity for assessing different strategic approaches to grow sales. Your assessment of the primary areas of funnel leakage, with either detailed quantitative analysis or general qualitative input from sales and marketing teams, will lead you to opportunities to improve effectiveness and ROI. While companies often debate whether they need a push or pull strategy, the best opportunity for improving performance will come from identifying the weak areas within the combined funnel.

 

Following are examples of leakage points that marketing can influence…

For Channel Partners:

  • More likely to recommend competitive products/services
  • Not promoting your products/services
  • Promoting your products/services but ineffective at converting buyers

For Customers:

  • No brand awareness, consideration, or preference for your products/services
  • Not responding to channel partner promotions
  • Prefer other channel partners that do not sell your products/services
  • Responding to influencer input with decreased preference and purchases

For Influencers:

  • No brand awareness, consideration, or preference for your products/services
  • More likely to recommend competitive products/services
  • Lack of access for influencers supporting your products/services to reach customers and channel partners at the right time in their decision process

Guiding Strategies and Tactical Planning

Once you have created your integrated, multiple funnel framework, you can then put it to use to guide strategies within or across the multiple target groups with a better sense of the impact on all target groups as well as the connection to incremental sales.

 

  • Formulate your marketing strategy within or across target groups.
  • Identify the tactics and the initial outcomes in terms of influencing funnel progression for the specific target group contacted.
  • Identify secondary outcomes in terms of funnel progression on the other non-contacted target groups.
  • Map out how the expected initial and secondary impact is intended to lead to an increase in sales to customers.
  • Use the expected impact on specific areas of the multiple funnels to guide key metrics, implement tracking, and define measurements of marketing effectiveness.
  • Measure new marketing initiatives and/or test alternatives to determine the actual impact relative to expectations. Measurements should concentrate on targeting and funnel leakage where improvements are likely to have the most significant value.

Pharmaceutical Marketing Example

Pharmaceutical companies have a very unique requirement for their multi-funnel environment with two very strong influencer groups in addition to the consumer; healthcare practitioners who write prescriptions (such as physicians) and insurance companies (a.k.a. “payers”) who fund all or part of the expense for consumers. There are marketing and sales efforts to all of the target groups. Practitioners have the potential to drive sales volume even without consumer marketing, and, along with insurance companies, can create significant funnel leakage even when consumer demand is high. Leakage results when practitioners have strong objections to the product or when the lack of funding from payers leads to competitive replacement.

 

Here is a brief example of how the initial and secondary outcomes guide the primary metrics to track and measure.

Initial Outcome
Secondary Outcome
Primary Metrics
Practitioner marketing (influencers as professionals)
Decision based on assessment of quality of healthcare and impact on patient satisfaction
Increase recommendations   Increase prescriptions with consumer acceptance and payer approval Increase payer conversion with increased demand (payer risks losing enrollment from consumers and employers) Increase in recommendations Increase in prescriptions
Insurance Company marketing (influencers as payers/funding source)
Decisions with long-term impact based on cost control and offering attractive coverage
Increase prescriptions with consumer acceptance and physician support Increase in physician recommendations Increase in prescriptions Increase in quantity of insurance companies offering coverage  
Consumers (customer decision-makers)
Decision based on health benefits and personal cost
Increased brand preference Increased requests to physicians Increase prescriptions with physician support and payer approval   Increase in recommendations Increase in prescriptions

Allocating Budget to Multiple Target Groups

One of the greatest barriers to choosing the best marketing investments is an organizational structure that separates marketing teams into silos which each concentrate on the different target groups. Not only does this make it difficult to integrate marketing initiatives, but it also tends to limit measurement of the marketing impact to just the group targeted so the opportunity to create higher impact campaigns influencing multiple target groups gets missed. In addition, the organizational structure can lead to competition for budgets that may compromise the decisions to manage toward a greater collective impact.


There are many levers that marketing can use to improve bottom line results, such as:


  • Invest in brand to influence customers, channel partners, and influencers
  • Motivate channel partners through their decision funnel to either expand the number of partners or grow your share of existing partners
  • Improve the marketing and sales effectiveness of channel partners to increase sales with customers and increase channel partner preference/loyalty
  • Motivate influencers through their decision funnel to either increase the number of influencers, increase the strength of recommendations, or increase the frequency of positive mentions
  • Connect customers in early stages of the purchase funnel to positive influencers to increase the portion of customers progressing to a purchase decision
  • Improve the customer experience with your products/services to increase repeat purchasing from customers, increase channel partner benefits, and win more support from influencers

Here are several options for evaluating where to invest marketing based on effectiveness and profit contribution, ranging from basic to more sophisticated:


  • Measure the effectiveness of existing marketing on the initial outcome (i.e., the primary objective) and incremental sales
  • Test new strategies to determine how to best improve marketing effectiveness
  • Assess funnel leakage independent of marketing campaigns to prioritize the need for new or improved marketing based on profit potential
  • Run analytics to understand the affect of improvements within one target group on other target groups (such as the marketing impact on influencer outcomes having a subsequent impact on channel partner decisions)
  • Model the impact of specific tactics on multiple target group funnels (such as the consumer advertising impact on influencer and channel partner perceptions and actions)

Companies in the high-tech, financial services, insurance, pharmaceutical, automotive, and dozens of other industries are dependent on winning the support and influencing the decisions of multiple target groups in order to successfully generate sales. Each target group has their own decision funnel that can benefit from marketing support. With limited marketing budgets, marketing executives can use integrated multiple funnels as a smarter approach to guide strategies, measurements, and improvements to performance and profitability.

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rio resources White Papers

CMO Guide to High-Performance Integrated Marketing

Lenskold Article Series

by Jim Lenskold

CMO Guide to High-Performance Integrated Marketing

As integration across the complex mix of multi-channel marketing improves, the increase in marketing effectiveness and efficiency greatly improve ROI. After all, the collective impact of those multiply contacts is needed to drive customer purchase decisions. However, the significant benefits from tightly integrated marketing require addressing the operational and culture challenges inherent in organizations that plan and execute marketing in silos.

 

The CMO Guide to High Performance Integrated Marketing is the third white paper in our Marketing Profitability Management series. You’ll learn how integration advances through three levels, starting with basic “cohesive” marketing, progressing to a “cumulative” level of integration and ultimately achieving “customer relationship integration.” This paper outlines how to improve integration through targeting, messaging, marketing mix, and engagement at each of these three levels. The 5-step process helps to address strategic development, operational issues such as aggregating data, and processes that help overcome the cultural barriers.

 

As with the other white papers in this series, we outline the priorities for CMOs to achieve success and include a “quick tips” checklist for easy reference.

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rio resources White Papers

CMO Guide to Maximizing Current Customer Marketing ROI

Lenskold Article Series

by Jim Lenskold

CMO Guide to Maximizing Current Customer Marketing ROI

Marketing to current customers is different than new customer acquisition, at least is should be. With current customers, there is an opportunity to capture intelligence on purchase history, profiles, and engagement activity to shed light on their interest and needs. This CMO Guide addresses the challenges and opportunities to maximize customer growth with more effective marketing. We map out an approach using intelligence, analytics, measurements, and ROI to better guide strategic and tactical decisions.


These sophisticated techniques equip the CMO and their marketing team to leverage customer relationships and create competitive advantages through more profitable marketing. Better measurement and ROI capabilities provide insights that marketers can act upon to earn credibility and demonstrate accountability to the CEO and CFO.


The white paper features rich content, a customer case study, tips, and an at-a-glance checklist to maximize performance and ROI from your current customer marketing. This is the first release in our series of CMO Guides intended to improve marketing profitability management. We thank Citrix® GoToWebinar® for their sponsorship and support.

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