How to Track Your Sales and Marketing Effectiveness

As we have mentioned in a previous post, whoever is building and deploying the sales and marketing campaign should take the time to properly gather the necessary intel to best prepare for a successful sales and marketing campaign. You will want to leverage this intel to properly prepare an efficient and effective approach.

This is not enough. If you are to really succeed with your sales and marketing campaign, you must learn how to evaluate your activities (inputs) and results (outputs) of your efforts.

How should you measure efficiency and effectiveness in sales and marketing?

Measuring a sales and marketing campaign’s efficiency and effectiveness can be quite difficult. A campaign’s efficiency refers to the amount of work (sales and marketing activities) your team must conduct to reach the goal. In other words, a campaign is very efficient when one call yields a conversation with a decision maker and that conversation yields an appointment which yields a new contract. Unfortunately, it rarely (if ever) works that way.

Similarly, a campaign’s effectiveness can be measured by the quality of leads entering the pipeline, the level to which those leads can be qualified and then the amount of product/services that can be sold. In other words, you can have a very efficient campaign that converts the wrong business… or you can have a very effective campaign that converts the right business over a very long and painful sales cycle. I think it is obvious what the ideal situation might be- both!

How should you report these findings?

In any sales and marketing campaign, it is important to develop reports so that you and your team can review and reflect on the progress of the campaign. We prefer to review the data on a weekly and monthly basis. As you review the data each week and each month, it is best to compare the current data to data from previous periods to get an idea of how you and your team are trending.

As you understand more, you will being to understand how to leverage the data for insights that you can incorporate into the next campaign, increasing the likelihood of success.

1. Track the Number of Sales and Marketing Activities

Most of our customers here at Fulcrum Sales & Marketing want to sell everything to everybody. We have found this strategy to be ineffective and very expensive. The hard thing to do is to focus your sales and marketing efforts on selling a best-in-class product/service to a best-in-market customer. Do the hard thing and you will experience more fruitful short and long term outcomes.

2. Track the Number of Conversations You Have

When sending emails or making calls, you will eventually find yourself having meaningful conversations with leads and prospects. Be certain to take notes and record the details of these conversations. Also, track and monitor the rate at which each call turns into a conversation (spoke-to rate).

3. Track the Number of Milestones Reached

When sending emails or making calls, you will eventually find yourself having meaningful conversations with leads and prospects. Be certain to take notes and record the details of these conversations. Also, track and monitor the rate at which each call turns into a conversation (spoke-to rate).

4. Track the Amount of Deals You Close

This one is a no-brainer. No one will push back on tracking the amount of deals they are able to close. It is important to note the reason they were won or lost. These are some of the most important insights you can glean from a campaign.

Every sales and marketing activity takes time, energy and tools. If you are unable to associate costs with these resources, you will be unable to compute the return on your investment and your entire effort may be for not. If a return on investment cannot be computed, you may be spending more than you are making. The responsibility to compute this is yours and yours alone!

Here at Fulcrum Sales & Marketing, we build sales and marketing campaigns with our clients and implement them on their behalf. Our professionally trained sales team identifies leads, qualifies leads and sets appointments with those leads and your team. Our first step in working together is gathering information. Next, we leverage that information gathered to put a plan in place and begin developing the right tools. Leveraging a well thought out plan and the proper tooling, we deploy the campaign and monitor its success. Whether it be inbound marketing services (lead generation), outbound marketing services (appointment setting) or sales consulting/training – our third step is to Go!

 

By Reece Theriot

We were all put on this earth to love; by loving we serve others; to serve others, we must create value; by creating value, we do good work; by doing good work, we form and work through successful organizations; by doing that, we contribute to the advancement of Creation.