Measuring results: understand the importance of measuring Marketing and Sales actions + 7 steps to get started in practice
Find out all about results measurement, why it is so important to the Marketing and Sales teams and where to start!
How do you know your marketing strategies pay off? And will your Sales team generate the expected result? To answer these questions, it is necessary to work with the measurement of results in the areas of Marketing and Sales .
Focusing on identifying results aims to create reports that show the Return on Investment (ROI) of these two areas, which are complementary, in addition to other relevant metrics.
Without working with the measurement of results, teams can suffer from a series of problems, such as:
- Difficulty in identifying the conversion channel that generates the best result for Sales;
- Doubt about which step of the funnel needs adjustments and improvements;
- Discomfort to communicate whether a specific action generated a return or not.
That’s why we all want a complete roadmap of actions that help identify whether we’re achieving good results, isn’t it? And to help you understand the importance of working with performance measurement, Blue World City have produced a complete content, with practical, achievable steps. Check out!
Why focus on measuring results?
Knowing the path to where we are going and what we need to do to improve . These are the main points that make measuring results so important for any company.
In practice, Marketing can attract new Leads through social media, Email Marketing strategy or several other ways. However, if there is no specific work to measure the results generated from each of these channels when Leads become business opportunities – and sales! – it is difficult to identify which is the best one.
So, more important than doing this measurement is measuring the results in the right way! If you don’t track Marketing and Sales performance properly, you create false security for the entire company. Therefore, you give the wrong impression that you are on the right path!
But there is an even bigger problem: you spend more money than you should on a campaign, assuming the results are better than expected . Therefore, working with the measurement of results will make it clear if your business is on the right or wrong path once and for all.
You will be able to intelligently manage Marketing and Sales actions , going through a complete analysis of each funnel. The better your performance measurement work, the better your chances of identifying points of improvement in both areas.
How to measure Marketing and Sales actions?
Okay, we already know the importance and some benefits of measuring results. But what are the most important elements to start doing this work?
In order for you to be able to measure Marketing and Sales results, there are some essential points:
- Define the most important metrics ;
- Calculate conversion rates between steps;
- Identify the company’s goals;
- Know the tools to put the strategies into practice;
- Generate the reports to make the correct analyses.
See details about each of them:
In the past, Marketing departments could not measure the accurate results of their ads. But with the work of Digital Marketing , the metrics are now much more accurate and make it easier to identify the return obtained.
Knowing the sum of production costs, advertising expenses, investment in tools and team salaries divided by the result you generate with sales is already the first step to measure the efficiency of your results with Marketing and Sales.
Key Marketing Metrics
There are several metrics that will help you deepen your analysis. In Marketing, some of the most used are:
- Number of visitors;
- Number of Leads;
- MQL ( Qualified Marketing Lead or Qualified Leads by Marketing);
- SAL ( Sales Accepted Leads or Sales Accepted Leads);
- ROI ( Return On Investment or Return on Investment).
We can also track specific metrics for each Marketing channel. Some examples are:
- paid media
- CPC (Cost Per Click);
- CPA (Cost Per Acquisition);
- CPM (Cost per Thousand Impressions).
- E-mail marketing
- Opening fee;
- Click-through rate;
- CTOR ( Click-to-open rate or Click-to-open rate ).
- Social media
- Number of clicks;
- Number of conversions.
Key Sales Metrics
In Sales, we have other specific metrics that help identify the progress of negotiations and the expected return based on the volume of contacts made.
Know some of them:
- Average ticket;
- Sales cycle;
- MRR ( Monthly Recurring Revenue or Monthly Recurring Revenue );
- Average call time for the Sales team.
To better understand each of the metrics mentioned and learn about several others, access our glossaries:
- Digital Marketing Glossary ;
- Inside Sales Glossary ;
- Business Glossary .
In addition to looking at metrics specifically, it is important to understand that there is a direct relationship between them through conversion rates.
The number of visitors you receive to your site and the volume of Leads generated may not mean much if looked at separately. However, when we look at the percentage of these Leads over the number of visitors, we can identify if the rate generated is within expectations and within market standards for our segment.
In Sales, the number of new accounts closed also needs to be related to other metrics, such as the volume of opportunities worked or the number of contacts that moved to the negotiation stage, for example.
Goals and objectives
Metrics and conversion rates can already show a way to measure your results. But to know which of them are most relevant to your operation, you also need to define the core business objectives.
- Where does the company hope to go?
- With current efforts, what can we expect in terms of results?
All efforts generated in Marketing and Sales will be measured in accordance with these objectives and goals . These answers will indicate what the priorities are in your customer acquisition area.
What we’ve seen so far is just the basis for understanding how you need to measure your results. But to put all this into practice, it is important to use tools that can deliver this type of analysis and that also help manage your operation.
Some of the main tools used in these areas are:
- Email triggering;
- Landing Pages Creation;
- Marketing Automation;
- SEO Analysis;
- Call recorder.
When we talk about these tools, it’s important that you choose the ones that can deliver as much information as possible in one place. In addition, they need to have an easy-to-integrate structure – which greatly facilitates the work of transferring contacts from the Marketing team to the Sales team.
The objective of working with reports is to put the data in a visual way so that everyone can understand the results achieved. They work as a guide where everyone can stay on the same page and identify how they are performing according to their goals.
With the reports, you can also create the famous dashboards , which facilitate the daily monitoring of goals.
Example of how to measure results in practice
Now that we know the theory behind measuring results and what we need to define to begin with, how about going into practice and learning step-by-step ?
We present an example of how to use RD Station Marketing and RD Station CRM to be able to take the first steps and measure your results!
Step 1: Analyze Your Inbound Marketing Funnel
The first step in starting the results measurement process is to look at your Inbound Marketing funnel . There, you can already identify the first results through automatic data measurement.
That’s why the RD Station Marketing dashboard, for example, already summarizes the funnel on the first screen, right after you log in:
Some important actions you can take after identifying these results:
- Review the criteria to determine which are the Qualified Leads;
- Work on the relationship so that Leads can become opportunities and sales.
To find out if your funnel numbers and conversion rates are in line with the market average in your industry, visit the Sales Funnel Benchmarking .
2nd step: Identify the performance of each channel
In addition to the overall result, it is important to measure the performance of each conversion channel worked by Marketing.
With this same example chart, it is also noticeable that in a single day there was a high volume of Lead generation, which dropped sharply in the following days. This result usually happens on a release day, when the publicity is strongest.
The actions you can put into practice for the next releases are:
- Share content on other channels;
- Strengthen outreach to drive conversions in the days after launch.
Step 3: Check the performance of your automation flows
Working with automation flows is one of the main Marketing strategies used by companies. After all, with a well-structured sequence of contacts, the relationship with your Leads can generate great business opportunities.
With this RD Station Marketing automation flow analysis chart, the measurement of shipment results helps to identify the performance of this strategy. In the example, despite having a good open rate in automatic email – above 31% – the percentage of clicks was much lower.
To improve performance after identifying this result, you can:
- Improve the content in the body of the email;
- Make the CTA more flashy to generate more clicks.
Step 4: Evaluate the results of your email strategy
The Email Marketing strategy is one that provides the most results for your Marketing actions. But by the same token, if the work in this channel is not well planned, the expected return may not happen.
In the result above, it is clear how the first email managed to generate a percentage of clicks much higher than the second. However, another important point can be observed with this shooting: it happened less than 24 hours after the first shipment.
With this data in hand, the strategies for the next shipments can work better on some points such as:
- Allow more interval time between one shipment and another;
- Better specify the purpose of each email.
→ Do you want to do this step by step in practice? Try RD Station Marketing for free !
5th step: Follow the passage of opportunities for the Sales team
In RD Station CRM, it is possible to monitor the volume of opportunities sent by the Marketing team to the Sales area. This makes it easier to identify the quality of contacts by analyzing the volume that appears in each step of the pipeline .
Through this CRM functionality, the volume of ongoing opportunities and potential sales value facilitates performance reviews across the entire area.
6th step: Identify the sources of origin of sales
Could it be that the source that generates the highest sales volume is the same one that is bringing the most Leads? If the investment is higher in a given channel, will the result at the end of the sales funnel be better?
These questions can be answered by measuring results through the reports present in the CRM.
The volume of customers and the total revenue generated as a result of these efforts coming from the beginning of the Marketing work may be the most relevant metric to measure the success of these areas. Still, segmenting by original source makes clear the performance achieved by each of them.
Step 7: Measure the Sales Team’s Complete Performance
Using the reports and graphs helps to measure several other important factors, such as the team’s individual performance and the final status of the generated opportunities.
Start measuring performance according to your business needs
The 7 steps you just saw show just one example of what steps you can follow to measure results in the customer acquisition area – which involves Marketing and Sales.
Depending on your strategy and the metrics you need to monitor, performance measurement can be performed in a broader or more specific way , with new steps between each of the presented ones, for example.
That way, you’ll be able to have the complete list of results you need so much to make the right decisions and take the next steps!
It’s no use just measuring. It is necessary to act!
Gathering all this data, generating these reports, and being able to measure results only makes sense if you can act right away.
These surveys are essential to find the actions that need to take place to optimize your results . Looking at the numbers just for the sake of looking won’t help!
Therefore, focusing on measuring results makes it easier to justify the cost of Marketing and Sales efforts. Not to mention that this is the best chance to prove the value of your shares and then increase your investments.
Do a critical analysis of the data always with the intention of creating a concrete action plan. Afterwards, the comparison of results will make it clear whether the actions brought benefits to the company or not.
So, don’t leave this action for later! Leave your email below and take your free trial of RD Station Marketing. It is the market leader tool according to the B2B Stack, all in one to manage, automate and measure your Digital Marketing actions to increase your results!
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Find out all about results measurement, why it is so important to the Marketing and Sales teams and where to start! How do you know your marketing strategies pay off? And will your Sales team generate the expected result? To answer these questions, it is necessary to work with the measurement of results in the areas of Marketing…