Revenue Reporting: Your Genie in a Bottle

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Revenue Reporting: Your Genie in a Bottle

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Today’s Speakers Jessica Kao Senior Manager, Demand Gen Guidespark Brian Glover Senior Manager, Product Marketing Marketo

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Companies lack quantitative metrics to demonstrate impact of marketing spend Source: The CMO Survey (August 2014), Highlights & Insights Report

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High growth companies rely on analytics for decision making Source: The 2014 CMO Insights Survey, Accenture 86% of high-growth companies use data and analytics to improve marketing impact Vs. 65% of low-growth companies

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Challenge: How to choose the RIGHT data and metrics

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CMOs commit to mastering analytics Source: The 2014 CMO Insights Survey, Accenture

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Spending on marketing analytics expected to increase 73% in three years Source: The CMO Survey (August 2014), Highlights & Insights Report

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Increasing pressure to prove the value of marketing Source: The CMO Survey (August 2014), Highlights & Insights Report

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Limited resources Prioritize what to do Prove Marketing Investment and ROI Prove Marketing Contribution Prove Marketing Matters Marketers Challenges

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Overwhelmed by which metrics to choose Lack of tools Lack of expertise Low prioritization Not rewarded for reporting over tactics Reporting can be Daunting

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Does it: Answer WIIFM Use common language and vocab Stimulate conversation How to make marketing metrics matter

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What are the metrics that really matter? Marketing’s contribution: Revenue Pipeline # of Opportunities What is Revenue Reporting Measuring the impact of all marketing strategies and tactics on the companies bottom line = Revenue

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Provide data to prove marketing is an investment and not a cost center Achieve alignment between sales and marketing Earn seat at the C-suite table Power of Revenue Reporting

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Cost of NOT doing Revenue Reporting

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Cost of NOT doing Revenue Reporting Let’s Do More Tradeshows!

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Topic Performance: Pipeline and Revenue

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Topic Performance: Pipeline and Revenue Onboarding had the highest number of successes but lowest close rate Open Enrollment created the most (MT) Pipeline and Revenue

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Topic Performance: Pipeline and Revenue

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Identify what is not Working Lowest (MT) Revenue Won to Cost

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Compensation (MT) Pipeline and (MT) Revenue derived at the lowest cost per dollar of pipeline and revenue Pipeline and Revenue to Cost

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Channel: Pipeline and Revenue What is the most successful channel and topic combination? Identify the highest (MT) Revenue Won to Cost

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Addressing the Important Questions with Revenue Reporting: RCA Model Sourced Influenced

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How am I doing to plan?

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Lead Lifecycle: How do I reach my goal?

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Demand Waterfall Digital-pi.net

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Demand Waterfall Digital-pi.net

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I need more leads! Digital-pi.net

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Shorten late stage sale cycle Digital-pi.net

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Increase quality of leads to sales (MQL) Digital-pi.net

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Create reports that lead to actionable insight What should you do? Do more Do less Do something different Let the data teach you something you don’t know. Embrace being wrong Iterate How do I get started?

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How do I justify the need for reporting when I need reports to justify that need?

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Establishing Reporting Vision Presentation: RCA Model Reporting Vision Establish Sales and Marketing Alignment Marketing Goal Contributions Revenue Pipeline

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Data: Company Revenue Goals ($)* FY QTR Avg Deal Size ($)* Length of Sales Cycle (Days)* Avg Close Rate (%) How to easily set your goals by the end of this week Who to Talk To: Sales Sales Ops/CRM Finance

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Quick Calculations – Acme Co. $100M Revenue $50K Avg Deal Size 90 day Sales Cycle 10% or 1:10 Close Rate – Determines how much pipeline you need

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What is Marketing’s Contribution Marketing Sourced Goal = First Touch = 20% Marketing Influenced Goal = 40% 90 day sales cycle = Start FY15Q3

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Marketo set up and utilization not optimal Acquisition Programs Channels Progression statuses Program structure Lead Source Scoring Before R. C. A. – State of Marketo Implementation Oct 2014 SFDC Reporting Lots of dashboards Lots of time and resources to maintain dashboards Not designed with marketers in mind

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Marketing Reporting Needs Multiple programs influencing a person’s decision to buy (MT) Acquisition (FT) Dates of entering program/campaign Leads characteristic associated with program not the lead as a static field Multi-dimensional reporting

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More engagement and conversations between sales and marketing Weekly marketing updates at sales team Monthly marketing and sales leadership meeting Weekly marketing and inside sales meeting Monthly marketing report out C-suite Intradepartmental changes What do we call a success How do we measure the impact on pipeline and revenue Changing the Conversation and Increasing Alignment

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I’m ready to get started today: Strategic Understand resource needs Set aside dedicated time each week Set goals Tactical Audit lead sources Audit channels, successes, and program Statuses Acquisition programs So Now What. . . If

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I want to plan ahead for revenue reporting in the future: Audit Lead Sources Audit Channels, Successes, and Program Statuses Acquisition Programs So Now What. . . if

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Huh? I’m overwhelmed: Then start with this at a minimum Create static lists with descriptive nomenclature Consistent Nomenclature for Lead Source Detail Tradeshow-AABB-021415 Webinar-Revenue Reporting-021815 List Purchase-ABC-031414 Hire/Train designated person Ask for Help Marketo Professional Services Hire an Agency: Digital Pi Marketo User Group Local Linkedin User Group Summit 2015 So Now What. . .

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Revenue reporting empowers your company and your career Set goals and measure against them Do something different today to address revenue reporting – try Demand Waterfall Wrap up - summary

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Special Thanks: http://summit.marketo.com/2014/replay/ Resources: Webinar: Find the Right Marketing Automation Solution for your Company http://www.marketo.com/webinars/ (Good explanation of multi-touch attribution) Demand waterfall spreadsheet available at digital-pi.net

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Thank You! Jessica Kao, PhD @spunkyscientist jkao@guidespark.com Senior Manager, Demand Gen Guidespark Brian Glover @brianjglover bglover@marketo.com Senior Manager, Product Marketing Marketo