How to Use Campaign Data to Budget for Success

Overwhelmed by the pace and volume of "big data," marketing campaign analysis can become a shortsighted focus on lead metrics and quick reaction. We'd like to thank Bonnie Crater, president and CEO of Full Circle CRM, for her emarketingandcommerce.com article reminding marketers that campaign data is also key to long-term ROI--via improved marketing budgets and campaign development. Here are five tips on using campaign data to budget for future success: Start by using prior-year data on lead generation, close rates, average deal dollars, and ROI to provide a roadmap to current-year marketing budget targets. Second, gauge marketing performance and adjust forecasts according to industry benchmarks of realistic lead generation and campaign close rates. Third, in deciding budget allocations, don't measure campaign ROI just by first and last touchpoints; look at the detail of multi-touch, multi-channel, multi-campaign marketing to accurately credit each campaign with revenue generated. Fourth, weight the different elements affecting campaign touches (such as campaign types, user roles, when the touch occurred in the sales cycle) to better allocate spending to maximize campaign ROI. Finally, while digging into campaign data, take note of process problems, such as lead hand-off gaps and sales bottlenecks, and take action to improve efficiency of marketing and sales spending. For detail from the complete article, go to http://www.emarketingandcommerce.com/article/5-tips-using-campaign-data-build-your-next-marketing-budget/1