I was sitting in a meeting of marketing and operations people when I worked at Inquiry Handling Services (long ago scooped up by Harte Hanks). I listened to excuses about a series of initiatives we were undertaking. The different department heads were telling everyone why they were not delivering on their commitments. It was at that moment I learned an important lesson: there are two reasons why someone doesn’t want to do something:
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I believe I have heard all of the excuses for Marketing’s failure to measure the ROI for marketing efforts. Actually, this list is shorter than the one for salespeople’s excuses for not following up on sales leads. Here are some of the justifications.
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Looks like an almost impossible task, primarily because Marketing must rely on so many others. It isn’t the sale that’s the issue; it’s closing out the sale in the CRM system. (Don’t have a CRM System? Get one and read this.)
It is true that "Nothing Happens until Somebody Sells Somethingi," but I venture to say that in most cases in today’s sales environment, nothing happens until someone in Marketing creates a qualified prospect. When that happens, and the connection occurs between the prospect and the salesperson, a sale occurs 15-25% of the time. But connecting the end result with the marketing function that found the prospect (and caused them to enter the marketplace or reveal their purpose) is sometimes difficult.
That last sentence is an excuse. A bad excuse used by thousands of marketing managers. Ashton Kutcher said, "I don't believe that old cliché that good things come to those who wait. I think good things come to those who want something so bad they can't sit still."
So if you want to prove the ROI for marketing you’ll find the pathway.
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Of course I didn’t cover one of the obvious requirements. You must have a CRM system to make the whole reporting process automatic and believable. Marketing automation also helps in this process.
Brendan Francis said, "If you greatly desire something, have the
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If you want to learn how to prove the ROI for marketing lead generation, you will. You’ll find a way. If you don’t, you won’t, and it probably means you are changing jobs every few years.
James Obermayer, Executive Director and CEO of the Sales Lead Management Association and President of Sales Leakage Consulting is a regular guest blogger with ViewPoint.
iThis famous quote is attributed to a number of people including Peter Drucker, IBM's Thomas Watson, and Arthur "Red" Motley, former publisher of "Parade" Magazine. Source: Answers
Topics: Marketing & Sales Alignment, Marketing Strategy, Guest Blogs