Moneyball Marketers want to take the guesswork out of demand generation. The best way to do this is building a bottoms-up MQL plan to reach and exceed MQL targets. Ideally the plan targets 10-20% lift vs. the MQL target number established in the revenue team’s planning process.
These are metrics you’ll want to benchmark and then establish targets for and monitor.
Website – Recommend approaching traffic measurement as an integrated approach incorporating Digital Marketing, PR & Social resources.
- Organic Search Traffic
- Organic Search Conversion Rate
- Referral Traffic
- Referral Traffic Conversion Rate
- Direct Traffic
- Direct Traffic Conversion Rate
Paid Search – Ensure you are looking at paid search segmented by these four areas as they all behave differently and investment and optimization decisions should be varied for each.
- Branded Search
- Non Branded Search
- Retargeting Ads
- Display Ads
- Net New Program MQIs
- Same-Month Conversion Rate (e.g. from a ‘Burst Nurture’) – this will tell us when we do outreach what % of prospects are ‘ready for sales’, I typically see this as a range between 2-10%
- Active Nurture Database
- Monthly Conversion Rate – This is where lead nurturing and teleprospecting to the database pays-off, as it helps bring yield from past marketing programs that helped grow the activity database but leads were not yet ready to engage.
- ** Note I would include recycling of closed/lost opportunities in this active database although it also can be split out separately
- Contacts per month
- Conversion Rate
The bottoms up plan help in multiple ways:
- Educate outside the marketing team to various components of the plan and move away from all “all or nothing” measurement – Exec Teams tend to ask questions like “are we hitting the MQL numbers?”… this allows for education to show which areas are growing faster than expected or slower than expected.
- Which leads to the second benefit, as it will help guide investment decisions going forward, which is top of mind to both the marketing and exec team. Are there areas growing well whose growth can be accelerated with investment? Are there areas underperforming who require investment to improve and mitigate risk?
- Help hold various contributors to the marketing programs accountable – often outside agencies are involved and this allows them to see how they fit in the plan.
And last but not least -- having a plan greatly increases the chances that you’ll hit the plan!