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 Kickstart Your Marketing ROI —
Part Two
By Craig O'Neal
Editor's note: this article is the second in a two-part series that outlines a systematic, easily justifiable approach to marketing ROI. In this issue, Craig O'Neal covers the final three steps that can help any business-to-business company take a more disciplined approach to their marketing efforts.
It's been said many times that marketing is both an art and a science, but unfortunately for most firms, it's more art than science. No wonder marketing departments have trouble defending their budgets each year, especially during challenging times! It becomes difficult to justify large expenditures for "increased awareness" or "better positioning."
Even when the numbers turn around, how can the marketing department take credit for its share of the success? In an era of increased accountability and expectations, marketing departments must find a way to show an ROI on its marketing initiatives.
In our May issue, we covered the first two steps:
• Embrace the buying process
• Build your database
In this issue, we'll cover the final three steps.
Evaluate and Invest in Lead-Generation Software
Doing business without a lead-generation software package is like telling a carpenter to build a house without a nail gun. This technology, sometimes referred to as customer acquisition management (CAM), is an essential tool in your direct marketing process. CAM allows you to measure the success of your efforts and evaluate your marketing ROI.
According to the Rule of 45, roughly 45 percent of all qualified leads will buy within 12 to 18 months from some company, so the importance of having an automated system to track, nurture and report specific metrics is obvious. A CAM solution will help capture initial inquiries, screen/qualify/rank the inquiries based on predetermined criteria and provide nurturing capabilities until the lead is "ready" to be turned over to the sales department. Qualified leads should be seen as an important asset to be managed since there is a marketing investment made in these.
A number of very cost effective, web-enabled systems are on the market. VantagePoint has worked with several clients utilizing different packages which can be effective when properly utilized.
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 Repeat After Me: Technology is our Friend
Is your company utilizing and leveraging available Internet technology to support your marketing and sales efforts? Four years after the dot-com bust, there is no doubt that the Internet is having a profound impact on how companies are doing business, whether or not they actually sell products on the Internet. The convergence of marketing and technology is undeniable, and is happening at an accelerated pace.
At VantagePoint, we are encouraging clients to embrace new tools and technology that have the ability to go beyond "old school" marketing and sales efforts, and significantly impact business growth. Our clients are now using tools like online surveys, web-based training, customer acquisition management, lead-tracking systems and other e-marketing initiatives that help segment their customers improve communication. Today's available solutions used appropriately can help companies drive and reveal ROI in their marketing endeavors.
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What keeps sales and marketing execs up at night?
How do you measure ROI? See what marketers said in a recent survey.
Is internal marketing an important part of your job?
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