During the days before digital marketing, it was extremely difficult for marketers to establish a correlation between specific marketing efforts with specific revenue outcomes.
Since in those days, marketing was more of a “spray-and-pray” kind of proposition than it is today.
However in the present times, in the data-driven marketing world, several tools are available to the marketers which can aid them to understand the paths to revenue that are working best.
Therefore, while data-driven marketers in these modern times should never ‘hang their hats’ on conversions alone, data found about conversions in the CRM database can be used as a part of an understanding of the entire sales funnel’s progress using an easy to use CRM software platform.
Now, if a data-driven marketer using best small business CRM software for his startup organization finds that most of his company’s revenue is flowing in through certain specific conversion points and particular contents, the marketer can then ask himself “what can be done to fetch more visitors to those conversion points and those specific contents?”
Although the ultimate goal of a data-driven marketer is to find that his company’s revenue resulted from people who found blog post ‘A’, filled form ‘B’, or clicks on CTC ‘X’, nevertheless there are certain dependencies for finding this data from the CRM database, as illustrated below.
1. The Contribution Of The Salesperson To Data-Driven Marketing Efforts
To help the data-driven marketers to find an accurate bottom of the funnel KPI data, the sales teams in your organization must regularly contribute their part in the data tracking process.
This is because if the sales reps do not regularly update the disposition of leads within their easy to use CRM system or they do not ensure that the opportunities have the right source filled in the CRM database, or if they do not close won opportunities along with correct revenue amounts in their easy to use CRM software, the result will be “garbage in, garbage out” as even the best small business CRM software is good as its data in its CRM database.
2. Aggregating Marketing Metrics
Since in this modern digital age marketing data comes from several sources, it is best if that data in the CRM database can be automatically aggregated to minimize manual aggregation efforts.
For this Google Analytics can be connected with the help of add-ons to your best small business CRM software, which is a good and economical option for startup and small and medium businesses.
3. Goals As A Data Point
Regardless of which dashboard tool you are using, your business goals should be included in the charts. Since it is always beneficial to have a visual bar against which you can measure your progress.
4. KPIs For Data-Driven Marketing
Here are some of the data points that can help data-driven markets to measure their progress at different stages of the sales and marketing funnel.
– Website Metrics
Tools like SEMrush and others provide data-driven marketers with just about all the information they could ask for about competitor keywords, site health issues, keywords that are most relevant for his business, and more.
– Page Views
Although this KPI seems to be obvious, analyzing page views of your business website using Google Analytics is often not done at a micro level, which is most needed to zero in on the performance of top posts and thereafter analyze what actions visitors have taken on them.
– Embedded Video Views
It is also extremely necessary to analyze the views of your businesses embedded videos on YouTube, Vimeo and other similar platforms which can also be tracked in Google Analytics.
– Ungated Content Clicks
Use Google Analytics event tracking code, for every piece of downloadable content associated with your business, so that the interest level in specific pieces of downloadable content can be measured to streamline your data based marketing efforts while using easy to use CRM software.
– Calls To Action
Using event tracking codes of Google Analytics to all of your business website’s CTA (Call-to-Action) buttons will also help the marketers in your organization to view and understand which CTAs are generating more clicks.
– CRM Lead Disposition
This data point in the CRM database of your best small business CRM software depends on either converting qualified leads or disqualifying leads that do not have the potential for immediate conversions.
Focusing on the reasons a lead got disqualified can also be a piece of very essential information for data-driven marketers.
– CRM Opportunities
Your sales reps should not only create opportunities by converting Marketing Qualified Leads (MQL), but they should also create new opportunities that result from inbound phone calls.
Therefore, instruct your sales teams to mark the opportunities found from inbound calls to “Phone Calls” in your easy to use CRM software, so that your marketers can measure the effectiveness of different inbound channels, which is an additional good data point for your marketers.
– Won Deals
The final leg in the data journey is won opportunities and their revenue amounts.
Make sure, that your salespeople should remain diligent in changing the value of the opportunities to actual values from what may have been estimated during the sales process.
Now, if you are using QuickBooks CRM software you can easily correlate and compare your PPC campaign costs against revenue generated, which can substantially improve your marketer’s data-driven marketing results in the long run.