Published on February 28, 2014
HOW TO REPORT ON YOUR MARKETING LIKE HUBSPOT Mike Volpe CMO @ HubSpot #INBOUND13
MIKE VOLPE @mvolpe Employee #5 at HubSpot. I also eat M&Ms one color at a time (and save orange for last).
1 2 3 4 Setting Goals Daily Measurement Monthly Measurement Key Takeaways
Where am I going? #inbound13
Where am I going? #inbound13
Where am I going? #inbound13
1 SETTING GOALS Compute what your goals should be.
Can we make Chicago by tomorrow? #inbound13
A marketing SLA is the vital marketing goal. #inbound13
BEGINNER SLA: How many leads do you need? • • • $500K Revenue goal $10k Avg revenue / customer (ASP) 2% Avg lead to customer conversion $ Revenue Goal / ASP = # New customers needed # New cust needed / close % = # leads needed #inbound13 ($500,000 revenue goal) ÷ ($10,000 avg revenue / customer) = 50 new customers needed (50 new customers) ÷ (0.02 lead to customer ratio) = 2,500 new leads needed
BEGINNER SLA: How many website visitors do you need? (2,500 leads goal) • • 2,500 leads goal 3% visitor to lead conversion rate # Leads needed / conversion % = # Web visitors needed #inbound13 ÷ (0.03 visitor to lead ratio) = 83,333 website visitors needed
What if you want a more precise marketing SLA? #inbound13
ADVANCED SLA: How many MQL do you need? • • Define a MQL in your CRM and/or HubSpot Unique close rates and ASP for each conversion type Per conversion type: $ Revenue per customer * % Lead to customer = $ Value per lead #inbound13 ($100,000 revenue per customer) ÷ (0.009 lead to customer conversion for whitepaper conversions [aka 0.9%] ) = $900 value per whitepaper lead
ADVANCED SLA: How many MQLs do you need? • Define a MQL in your CRM and/or HubSpot Unique close rates and ASP for each conversion type Per conversion type: $ Revenue per customer * % Lead to customer = $ Value per lead Value per MQL Whitepaper 0.9% $900 Webinar 1.5% $1,500 Online Demo • MQL to Customer Close % 2.0% $2,000 Tradeshow 1.1% $1,100 12.0% $12,000 MQL Type Contact Sales * Assumes $100,000 average revenue per customer #inbound13
What if you have different market segments? #inbound13
Advanced SLA: Values by Segment and Conversion Rate Demo Request Free Trial Contact Sales Small Business $50 $75 $100 SMB $200 $100 $500 Enterprise $500 $100 $800
2 DAILY MEASUREMENT Your dashboard to stay on track.
Staying on the road & not breaking down #inbound13
Daily Leads Waterfall % Progress to Goal 100% 80% 60% Actual 40% Goal 20% 0% 212019181716151413121110 9 8 7 6 5 4 3 2 1 0 Business Days Left in Month
Example Advanced SLA in HubSpot
ADVANCED SLA: Example SLA in Salesforce How to do this in CRM?
Actual Goal • Create new offers % Progress to Goal 100% • ebooks, webinars, etc. 80% • Publish more • blog posts, videos, 60% presentations • Promote more 40% • email and social promotion of 20% 0% How to fix SLA alarms new offers Business Days Left in Month • Increase paid ads • PPC on Google, Facebook, LinkedIn, Twitter #inbound13
Keys to Using Daily Metrics 1 Focus on a few metrics 2 Public and highly visible 3 Real-time reporting 4 React to the alarms
3 MONTHLY MEASUREMENT Your periodic report to publish internally.
Monthly Reporting Tips 1 Make everyone do their own report 2 Distribute throughout the company 3 Have a 1 page summary
Report Structure Top of Funnel Product Marketing CMO Middle of Funnel Brand and Buzz • Executive summary w/ 10 slides • Mirror structure of your team: tie people to numbers • HubSpot’s Report: 1. Executive summary 2. Report for each team (~10 teams of 2-4 people, in 4 sections according to team organization) #inbound13
PART 1: The Executive Summary • Under ~10 slides • Visitors, Leads, Customers • Cost per lead, Cost per customer • Results for all marketing SLAs • High level lead quality metrics #inbound13
Visits, Leads, Customers • • • #inbound13 Cut and paste from HubSpot Look for trends up / down Remember customers number is affected by the sales cycle
Cost per lead / customer • • • • • #inbound13 Leads from HubSpot Customers from CRM Take total marketing spend and divide by leads or customers Use excel to graph monthly Look for trends up / down
Marketing SLA Results • • #inbound13 For overall company Show as % of goal
PART 2: Team Reports • Show names / faces of team members • Report on results (goals and metrics) • Also report on activity #inbound13
Example Blog Team Report 1 # articles published and results (blog analytics) 2 Growth in blog subscribers (blog analytics) 3 Author analysis (# articles, views, links) 4 Results of blog CTAs (CTA module)
4 KEY TAKEAWAYS Time to wake up and pay attention.
Set up the right big picture goal. Compute your Marketing SLA. #inbound13
Use daily tracking of key metrics to stay on track. Create a daily leads waterfall graph. #inbound13
Verify the big picture. Publish a monthly deep dive report. #inbound13
THANK YOU Related reading: “6 Marketing Metrics Your CEO Cares About” http://bit.ly/6Metrics #inbound13 MIKE VOLPE @mvolpe firstname.lastname@example.org
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