8 Things to Double-Check Before You Begin Your Next Campaign Analysis

Instead of addressing the mistakes commonly made during analysis, I think it’s important to look into the mess you can create even before your analysis begins. In order to properly collect data, there are several things you need to set up a certain way. Some of these considerations are specific to your company, and your data will be skewed if you forget to do them correctly. Others involve how you set up your software to gather data in the first place.

Before jumping into your next campaign analysis, make sure your marketing automation program is properly set up to gather the data by doing the following 8 steps:

1) Select the right time period.

After you have the right domain selected, you should also make sure the right time period is selected. While it’s a natural instinct just to report on what appears on the dashboard without checking the time, that could easily lead to careless mistakes.

For example, many of us do end of the month reporting on the first day of the next month. At that point your reports have probably shifted from the previous month to the current month. With that said, you’ll want to make sure that you adjust the time range to reflect the previous month that you want to report on. This rule applies to end of the week reporting also. Additionally, if you are comparing this month’s progress to the previous month, make sure that the accurate month is reflected before you begin your analysis.

2) Make sure you’re reporting on the right domain.

You may have multiple domains that you need to track throughout the month. Maybe you have one for your main website, one for your blog, and another for your landing pages. No matter how your domains are set up, it’s important to make sure that you are reporting on the right one.

If you’re an international company, you might have domains for different countries or languages. When you do your reporting, it can be difficult to keep track of which domain has which goal. To make sure your goals and results are aligning, pay close attention to which domain you select each time.

Along those lines, if you own a specific channel of marketing, such as paid or email marketing, you may only want to report on one source instead of all of your sources as a whole. When sources are all presented one page, it can be easy to mistake the numbers from one channel with the numbers from another. To avoid any confusion, you should filter your sources to focus on one specific channel at a time.

3) Exclude your company’s IP address.

I’m sure you know the value of regularly monitoring how much traffic you get to each of your web pages. And while you want this number to be high, you don’t want it to reflect the page views that come from your colleagues and employees, as this will skew your data.

For example, imagine that you have 10 employees at your business, and each of them looks at different pages on your website an average of 10 times a day. That means that they are contributing an additional 100 views a day, 700 views a week, and up to 3,000 views a month. That data can completely change your progress toward your monthly goals. To avoid this, your website should be able to exclude your company’s IP.

4) Track your target geography.

Not every business markets to every country in the world, or every region of its country. This means that you need to pay close attention to the visitors who are in your target geography. Let’s say your target geography is Europe, and you are getting 1,000 visits a month to your website from there. However, you also find that you are getting another 1,000 visits a month to your website from Asia. If you are reporting your visits as 2,000 instead of 1,000, you are going to skew your data because you can only work with and nurture the people from Europe.
To ensure that you’re reporting on the right audience, take a close look at the IP of all people coming to your website. You can then start to segment based on people who are in your target geography to avoid spending time and resources on those who are not.

5) Evaluate your social media success.

When you run any marketing campaign, it is important to track how each lead is interacting with your marketing — even if the interaction occurs outside of your website. For example, let’s say that you are running a promotion on Facebook, Twitter, and LinkedIn to drive traffic to your website. Some tools may automatically bucket that as social media, leaving you with no indication of which social platform generated more traffic. Make sure you structure a solution to ensure you can determine which media is driving traffic to your website or assets.

6) Set up the proper tracking code.

Before you start referencing links to your website from anywhere, you need to make sure you have the proper tracking code installed on your website. This will ensure that you are tracking traffic coming to your site, gathering proper lead intelligence about visitors coming to your website, and offering insight to help you improve the amount of traffic that comes in to your website.
If you have been working on marketing campaigns that drive traffic to your site and do not see an increase in traffic, that may be a good indication that you do not have your tracking code set up properly. Without this information, it will be difficult to segment your database to deliver more personalized marketing experiences.

7) Understand what your metrics mean.

Before you even begin to do your analysis, you need to decide which metrics you want to report on. Furthermore, you need to decide what the metrics actually mean and how to interpret them. Many times we report on metrics that we think represent success, however it’s possible that they might mean something entirely different.
For example, Google Analytics will report on the time someone spends on your website. And while we often equate a long visit to an interested visitor, this isn’t always the case. Although you’d like to believe that someone who has clicked around on several of your pages is liking what they’re seeing, it could also mean that they are struggling to find what they are looking for. As you analyze your metrics, dig deeper to understand what they mean. The results may not always signify what they seem to at first glance.

8) Attach tracking code to all relevant assets. 

One of the hardest things for marketers to remember is to put your tracking assets in place before your marketing campaign launches. This may include, but is not limited to, creating tracking URLs, putting them across the different platforms, or tagging your pieces of content.
If these tasks aren’t done ahead of time, you could lose some of your analytics forever. For example, if you plan on using a tracking URL on your Facebook post but forget, you will miss out on all the clicks that your visitors took to get from Facebook to your site. If you edit the post and add it in, you will be able to get some of that back, but you will still not have everyone.
Taking all of these actions listed above in the beginning of your setup can save you in the end. Before you publish all of your assets, check to make sure you have everything in place to ensure the correct data for your analysis.

7 Secrets to a Successful Scoring Model

Lead-scoringLead scoring is a valuable system to make the sales team more efficient through pre-qualification and prioritization, and if done right, can be an unfair advantage in your market. It’s critical to get your scoring model off to a strong start and to develop its accuracy over time.

Following are key steps for successful scoring:

1. Gather intelligence from Sales regarding the typical makeup of a qualified lead.

Sales and Marketing will need to work together to define the profile of the ideal customer. Sales needs to buy into the scoring system and trust it, so it’s important to include all parties from the onset.

2. Establish Demographic and BANT (Budget, Authority, Need, and Timeline) scoring formula.

These set criteria might include company size, industry, role, and product/service interest and are often assessed through website forms.
Caution: Beware of false positives from website window shoppers and exaggerated BANT responses.

3. Consider content assets and lead behaviors to better define your ideal customer profile.

In a department store, you can watch a potential buyer take clothing off the rack, look at the price, hold it up, and try it on, then the salesperson can see clearly when to approach. We also have to assess online behaviors and apply the score values for prospects who register for webinars, download post-session materials or whitepapers, express interest at a tradeshow, or watch videos or demos. Who clicked through on a call-to-action or viewed pricing? These behaviors might weigh differently from each other, but each tells a story of the potential prospect and suggests when to “approach.”

4. Determine where the prospects are in the marketing funnel by using scoring to evaluate the stages.

A scoring system can set the lead status in the funnel. For example, a low scoring lead might be an Inquiry, while a higher scoring counterpart would be a Marketing Qualified Lead and is ready for sales.

5. Take necessary steps to move qualified leads to opportunities.

Depending on where leads fall in the marketing funnel, scoring can help in the lead flow as ownership, activities, and role are defined by business rules, assessed through scoring, and moved around depending on their activity.

6. Prove or disprove the success of your lead scoring model.

Lead scoring is successful when leads with higher scores convert into closed/won business more often than low scoring leads. Analyzing velocity and conversion-to-revenue rates is also critical to measuring successful scoring. Lead scoring is generally proven not successful if metrics related to lead scoring are trending negatively. In that case, you would need to identify points of failure and make the necessary changes.

7. Optimize your lead scoring for continued improvement.

Even the most successful lead scoring models receive ongoing auditing and fine-tuning. Changes and adjustments will only help to create more reliable and sales-ready results.

It’s important for organizations to remember that lead scoring won’t predict if a deal will close, but it will help prioritize who sales should engage with first. Lead scoring is often implemented, yet rarely fully leveraged. If your competitors are using lead scoring models as well, make sure yours is fine-tuned, fully-utilized, and ever-dynamic.

Why Lead Scoring is the New Opportunity Stage?

 

lead scoring

Lead Scoring

Gone are the days, when simple marketing plans were effective enough for lead generation. Today, the advanced technologies have brought in so many sophisticated marketing means that marketers need to be very careful while targeting the audience. The consumer buying process has drastically shifted from traditional means to new means, where they carry out enough research, before buying a product or service. They are already leaning towards a particular vendor, but still visit others for attractive offers. Hence, marketers need to come up with robust strategy, depending upon the consumers’ needs and requirements.

One of key areas that have turned out to be a great new opportunity is lead scoring. It is a method that is used to rank prospects against a scale. This ranking is based on who they are, what they do, rather than what they are saying. Lead scoring is in fact the integral part of modern day lead management that ranks prospects on the basis on their behavior and web activity. It helps marketers determine the level of interest through their engagement and interest, depending upon demographics. These factors, when combined together can turn qualified leads to sales.

Lead scoring can be used to measure the effectiveness of investments in the marketing campaigns  and lead generation programs. It helps you identify sales ready leads from inquiries and focus on converting them to customers. Marketers can effectively use these means to rank their prospects and improve their sales, thus enhancing the return over marketing investments. Looking into the number of advantages, marketers can now use different lead scoring software to analyze their needs and make the right judgment. Another important benefit is that it reduces sale cycle duration for qualified leads and improves upon the conversion rate, thus increasing sales productivity and effectiveness.

If you want your marketing campaign to be successful, you need to understand lead behavior and identify serious buyers. Later on, you could focus on good relationships to improve the stats. Hence, it is important to keep a track of the buyer’s needs and behavior to know about his or her intentions. Though it could be challenging, it would get you an honest representation of leads’ objectives, helping you know whether they are actually ready to buy or not. Prioritizing the prospects, could further help you make initiatives to improve upon the conversion rate and your chances to convert the lead into a customer. Hence, lead scoring is definitely a new opportunity stage for marketers.

So, what next? Have you scored your leads? Don’t you want to improve upon your conversion rate and sales figure? Do adopt these advanced tactics in your marketing methodologies to enjoy better returns.

When you need more than Marketing Automation

By now, if you’re not already using it, you’ve heard the hype about how great marketing automation is. Marketing automation is a great tool, there’s no doubt about it – in short it helps organize lead scoring and helps define quality leads – but it’s also not always enough.  It’s true that it has been proven to help generate a huge increase in quality leads when companies use it to nurture their prospects, and studies have shown those nurtured leads are more apt to make bigger buys, but the truth is it will not do everything for you and thus there are times when having marketing automation is just not enough.

Here are a few key ways to supplement your marketing automation program and get the most out of it:

  1. Gather up All your Data: Marketing automation will help you analyze certain behaviors and lead scores, but it won’t integrate all the data you’ve collected. When used alongside other marketing platforms, such as CRM, to pull together the whole picture, it can provide you with invaluable data about your prospects.
  2. Provide a Personal Touch: You can build automated trigger campaigns to nurture leads with marketing automation, but this is difficult to do without seeming like it’s a repetitive, form letter style of contact. You need to assess the different touch points during the campaign yourself, put your customers into different categories and then personalize a marketing strategy relevant to your prospects.
  3. Get some Content: Marketing automation will definitely not help you get content up on your web site or write your newsletters for you. This you’ll have to do on your own. And this is important, too, because today’s buyer is savvy – they have already gathered a lot of their information about you from the internet before you even meet them. Today’s buyers want to quietly do their research before they invest in a product or service.
  4. Align Marketing and Sales Teams: We can’t say it enough – getting both teams together to discuss the marketing campaign will help you understand the buyer all the way through the marketing funnel. A good marketing campaign consists of lead scoring, lead nurturing and converting those leads into sales. It helps marketing to know what makes a buyer buy just as much as it helps sales understand who their buyers are.

If you’re already using marketing automation successfully, what tools or methods do you supplement with to create a fantastic marketing campaign?