Most marketers struggle with creating metrics that clearly measure the ROI of their marketing programs. A recent study by Marketing Sherpa sheds some light on how B2B companies are evaluating the return on their marketing investments.
Of the 935 marketers surveyed, about half identified closing percentage (52%) and cost-per-acquisition (51%) as metrics that were highly effective in measuring their ROI. Cost-per-lead came in at 45%. Less effective were average deal size (40%) and time to close (35%).
The study reported respondents rated few measures as ineffective, indicating that marketers should use several metrics to get a clear picture of their ROI. Tiziani Whitmyre recommends that B2B companies develop a monthly or weekly marketing scorecard that tracks the three or four key measures that are critical to achieving their revenue generation goals.