Measuring not just the awareness but also on the pipeline- Key business ROIs that marketing should contribute to- Namrata Kapur
Namrata Kapur is the Head of Marketing of the Cloud Integration Department of IBM. She is also the host of the vlogging series Marketer in tech. She is also a writer, speaker, and mentor.
At Ampliz B2B Binge 4.0 APAC edition, she shares nuggets of knowledge regarding measuring the KPIs that matter to business growth. Marketing goes beyond awareness today. It has every nook and corner of different processes.
All KPIs of various departments are interrelated. They have to club into a bucket so that they are focused on the right ROIs. ROIs are achievements of business goals. The business goals are leads generated, do prospects know your offering, how do you differentiate from your competitors, are different teams are aligned, and many others.
One of the most significant ROIs is the Share of Voice. Share of voice measures how your presence compares across competitors. Do your activities contribute to the above ROI?
Are you driving the right traffic? Do the events or various activities bring in the right traffic? How are you actively pursuing them? What are your conversion rates to and of leads?
When organizations ask what is your plan for the next quarter. It means how you can reach the goals and your tactics—all your steps involved in the tactic need to have KPIs and ROIs. When you have all that information in place, it will help you achieve the goals.
The best way the organizations can achieve great ROIs iff the KPIs are aligned to it. The way to go about achieving the KPIs is to plan, execute, analyze, and adapt. Plan meticulously, perform consistently, analyze honestly, and adapt ruthlessly. There is no other way.
It does not matter you follow a funnel, pipe, or a flywheel; every stage you interact must have specific things you want to achieve or ROIs. To reach the ROI numbers, you should have small measurable KPIs so that you can measure and take necessary actions to realign your actions.