Friday, December 17, 2010

6 Marketing Automation New Year's Resolutions - #6

Marketing Automation New Year's Resolution #6:

Congratulations! If you’ve implemented the first 5 Marketing Automation New Year’s Resolutions, you moved from Demand Generation to Demand Management – a major and significant evolution!

You now control every square inch of the funnel and are able to fully report on each funnel stage’s contribution to revenue. All leaks are plugged, all metrics fully in place, data standards in place and your funnel is now fully aligned with both sales and marketing.

So what’s next, a vacation? You certainly deserve one! And when you return, get ready for the final frontier -- the universe before the funnel.

There are 4 steps to this:

Step 1: Inventory All Pre-Funnel Feeders

Leads live a double life. The life you know about as they become known to you (through tracked implicit and explicit indicators) and the life you don’t know about. The specific journey that got them introduced to your neighborhood. LinkedIn, Facebook, Digg, StumbleUpon, Google Buzz, Twitter, PPC, Wikipedia, organic web searches, blogs and a number of other sources we may not even know of, all play a role in crafting an invitation to your party.

It is this journey, this universe of unknown activities that we need to understand and then harvest in order to provide a perpetual feeder into our now healthy, happy funnel.

Step 2: Establish Dashboards That Determine Influenced Revenue of Each
Build Dashboards that focus on mapping the pre-funnel journey. Find and track every single freeway, side street and back road that leads to your website and begin to make a connection to these initial pre-funnel activities and resulting influenced ROI.

Step 3: Prioritize Initiatives That Consistently Influence the Most Revenue
As you gain insight into the pre-funnel sources that ultimately contribute the most to influenced revenue, you can begin to rank and prioritize the major pre-funnel influences. This ultimately gives you the metrics you need to support increased efforts and resources on those influences.

Step 4: Focus Resources on Expanding Those Initiatives

From here it’s just a matter of focusing resources on what is working while abandoning the support of pre-funnel efforts that don’t pay off in influenced revenue.

There you have it, a complete 2011 Marketing Automation Roadmap.

Can you implement all 6 Resolutions in 2011? It’s possible. But don’t get frustrated if it takes longer than you’d like. As you’ve heard many times by now, marketing automation is a journey, not an event.

But if your organization is ready to start tackling each Resolution one at a time and in the order prescribed, you are on your way to being added to that very elite group of "Best in Class" performers.

Updated: 5-8-12
Visit my brand new website and learn more about Social Media Marketing

See all 6 Marketing Automation New Year's Resolutions:

Resolution #1 - Establish Corporate Alignment
Resolution #2 - Establish One View of the Truth
Resolution #3 - Establish Data Standardization
Resolution #4 - Fill in the Content Gaps
Resolution #5 - Tighten the Plumbing
Resolution #6 - Harvest the Unknown Visitor

Steve Kellogg
-Demand Generation/Marketing Automation Consultant, Astadia
-Eloqua Certified Marketing Best Practices Consultant

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