2014 Marketing Goals: Move Behind Marketing Activities to Achieve Marketing Performance

2014 Marketing Goals: Move Behind Marketing Activities to Achieve Marketing Performance

Have you set your 2014 objectives yet for marketing?’  Most of us have.’  But beyond publishing a list of campaigns and trade shows, have you identified the math behind your programs?’  Every meaningful business initiative can always be translated into KPIs, or Key Performance Indicators, even marketing, especially marketing.’  So what are your marketing KPIs?

It all depends on what’s important to moving the business forward? Some companies are in growth mode with expanding sectors, so lead generation is a driver. I spoke to someone earlier who generated 40,000 leads a year, every year, so for that company, improving lead conversion to quotes and orders was important. Mature businesses more often speak in terms of account penetration, or the ability to build relationships deeper inside the accounts they already have.

So what drives you? How have you translated your marketing ACTIVITIES into marketing PERFORMANCE? Tie your schedule of activities into measurable outcomes, and you’ll find that support from senior management ‘as well as budget ‘ is much easier to achieve. Here are some typical benchmarks we’re using to drive marketing performance:

• Increase site visitors by XX% by end of December 2014
• 2% conversions of site visitors to leads
• # of new customers
• Increase purchase frequency of existing customers
• Increase purchase size of orders
• Increase brand awareness
• Reduce cost/quote
• Reduce cost/lead
• Increase # of quotes or opportunities
• Increase total leads generated
• Increase the % of quality leads (stated as either % that convert to a quote, or % with projects within 3 or 6 months)
• Increase value of sales pipeline
• Increase size of database
• Increase PR coverage volume in column inches
• Increase social media engagement metrics

About the Author:

Joel Goldstein, President

Joel Goldstein, a proud graduate of Kent State University, is the president of Goldstein Group Communications, the agency he founded in 1992. While the agency has evolved during the years from its initial roots as a PR agency to become a full-service lead generation and branding firm, GGC has remained consistent in its focus on serving B2B companies that have some degree of technical or engineered content. Joel drives the agency’s strategy with a particular emphasis on incorporating new technology tools to drive improved performance, a focus on “Measurably Better Results” that has formed the foundation of the agency since its early days.