Go Back To Basics For Marketing ROI

Serious Consequences In Failing To Prove Marketing ROI. Failure to define 'return on investment' prevents effective measurement of B2B marketing. (ChannelMinds, August 19th 2003)

You already know how to do what will bring more profits to your business. Regular readers will notice the perpetual theme of cultivating customer relationships and high-skilled employees.

You may already be familiar with the strategies I share, but are your front-line people up on this knowledge. It's how you apply these simple skills that make the biggest difference in your organization.

As every company is unique, your own best practices are a great place to start. Identify those core activities that you already use to produce desirable results. Ask yourself these questions:

What marketing practices have helped advance our business in the last 12 months?

Did marketing-reruns produce comparable results as first runs?

Which customers are most likely to purchase based on past experience?

Are we utilizing everything we know about our best customers?

Do we have a lead qualification funnel that helps sales people pursue the most likely leads first?

How many channels are we doing lead generation? referrals? cross partner promotions?

Which marketing channels produce the most revenue or contribute to business objectives?

Who is responsible for testing against current campaigns?

How are we testing and insuring the quality of inbound customer service?

What products to we regularly up-sell to improve the value of what we provide to customers?

How loyal are our customers really? (i.e. How well would a competitors offer stand on our mailing list?)

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