This is the phone number list classic question asked by anyone responsible for determining the phone number list value of corporate programs and evaluating the budget. But when it comes to content, the right answers still elude many marketers. For marketers looking for more budget and resources, knowing how to measure the impact phone number list of each content asset created and program executed is extremely important. Unfortunately, connecting the phone number list right data points to prove the value of content is a challenge at best, smoke and mirrors at worst.
According to a report by Forbes Insights, half of executives admit their data-driven marketing efforts are lagging or siloed, and 22% of the phone number list rest say their data-driven marketing efforts are virtually non-existent. Michael Brenner, CEO of Marketing Insider Group, confirms, “We have failed to present marketing in the context of strategic business value. I would say marketing managers who don't have those numbers need to get them. It's not a matter of life and death – or just keeping their jobs – it's a battle that must be fought for the strategic importance of the phone number list marketing function as a whole.
How to Connect Content to Revenue
There is no “easy” button. There are no shortcuts to managing and leveraging data analytics and insights. Since a single content asset can be used by different teams at different points in the phone number list sales cycle, it's important to have a strong cross-functional and integrated technology stack to ensure you get good data. If you don't trust your data sources, you're unlikely to leverage their knowledge.
Both sales and marketing are responsible for revenue. To connect content to revenue, your marketing and sales teams must be closely aligned on the phone number list same business goals, the same corporate message, and the same agreed-upon processes. Since so much of the phone number list buyer's journey is self-service and digital, it's critical that marketing and sales messages stay in sync. Otherwise, the phone number list transition from marketing to sales, for example, from Marketing Qualified Lead (MQL) to Sales Accepted Lead (SAL) to Opportunity (OPP), will feel disjointed and leave your prospect confused.
For example, if the phone number list company has an average deal cycle of 90 days, marketing needs to deliver enough opportunities 90 days (one quarter) before the predicted close-won deal. Use this basic formula to calculate necessary marketing-related revenue based on overall business growth goals - total revenue multiplied by marketing ownership percentage equals marketing revenue contribution.
Next, calculate the phone number list number of closed deals won that marketing needs to drive for the next sales cycle to reach the marketer's revenue contribution number - marketing revenue held divided by the phone number list average deal size equals the number of closed deals -earnings generated by marketing. Finally, decide on a conversion model to determine the conversion rate needed between each stage of the funnel (ex: lead to MQL, MQL to SAL, SAL to OPP, OPP to REV) - number of leads in the stage current divided by the conversion rate of from the phone number list previous step to the current step is the number of threads needed in the previous step.