5 Metrics You Need to Ensure Epic Marketing Automation
So you’ve got all the makings for a successful content marketing campaign. You’ve thoughtfully developed your strategy, created a kickass arsenal of content and have carefully selected and implemented your marketing automation solution.
Your efforts should position your campaign for success, but how will you REALLY know if you are delivering epic marketing automation?
The companies that are the most successful at content marketing automation are those that can quantify and qualify the success of their efforts. We’ve said it before but it is worth noting again, analytics, analytics analytics !!
Robust analytics will provide you with the quantitative and qualitative insight required to measure your marketing automation impact.
There are five basic types of metrics that you must embrace to determine if your marketing automation goals are being met.
Workflow Metrics – Is your marketing automation system being used properly?
- The number of emails being sent - In and of itself this does not ensure that your tool is being used appropriately but certainly, if a minimum number of emails are not being pushed out, there is a fundamental obstacle and that needs to be identified and addressed.
- Quality behavioral triggers - You don’t want to be using your tool as just an expensive email system – campaigns should be appropriately triggered by customer interests and behaviors.
- Timeliness - Does your editorial calendar tie your campaigns to your sales cycles and your target audience’s needs and wants? It should.
- Content collaboration - Does you automation tool allow you to create and collaborate on content in a timely and consistent way? It should.
Engagement Metrics – How does your content marketing engage with your audience?
- Open and close and click-through rates – Of the subscribers who opened your emails, how many actually clicked through? Were your email deliveries scheduled strategically (i.e sent at hours of the day or days of the week when recipients are most likely to open email)?
- Bounce rates – High bounce rates may indicate that your campaigns are making promises that your assets are not delivering.
- Website traffic – How many visitors have you had to your website? Where have they gone? How long have they stayed? Understanding these metrics will arm you with the information you need to optimize the content and User Experience on your website.
- Subscribe rates and unsubscribe rates – High subscription rates indicate you are engaging your audience, while unsubscribe rates may indicate the need for better segmentation of your audience and better mapping of your content to their behaviors.
Lead Intelligence Metrics – These are used to help determine the ROI on lead generation.
- Which of your assets are accelerating your target personae through the pipeline? Where are the challenges and opportunities?
- Scoring and Grading – are you accurately appraising your target personae to determine Market Qualified Leads
- Conversions and Reconversions – tracking this gleans more robust lead intelligence
Pipeline Metrics – How effective is your sales and marketing alignment?
- Are your campaigns generating sales accepted leads? Have they been properly qualified?
- Are your Marketing Qualified Leads converting into customers? – Gaining insight into how qualified leads are improves close rates.
- What are your costs per lead?
- What are your costs per customer – if leads are properly qualified this should reduce this cost
ROI Metrics – Ultimately CMOs are most concerned with dollars and cents. What is the value to the bottom line generated by your marketing automation system?
- Revenue - The ultimate metric. How are sales? Are you making money?
- ROI – Does it cost more money to implement and administer your marketing automation system than it generates?
- Close rate of MQLs - The proof is in the pudding, how many leads are maturing into buying customers?
- Pipeline - Is it filling up with sales approved leads?
What types of metrics do you use to evaluate marketing automation success? We are thrilled to announce that MarketingWise is preparing to launch a next generation marketing automation software solution with robust content marketing analytics features and capabilities.
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