Quantify your goals

Quantify Your Goals

In B2B it’s always best to start with your company’s annual goals and develop campaigns to meet those numbers. For example, when you know how many new customers you need, you can calculate how many leads you’ll need, then design campaigns to generate those leads throughout the year.

With solid planning, a jolt of creativity and focus on measurement, you’ll be in a strong position for success.

The first step in a good campaign is to develop concrete goals. Without specific targets, how can you estimate the number of impressions you’ll need or the amount of money you should invest?

Your goals should truly drive every element of your campaigns:

 Your offer and message  The budget you set  The way you allocate your budget across different media  The frequency you deliver your message  The placement of your message

During the annual planning process, it’s valuable to take your annual revenue and customer goals, then determine how many leads you need to generate each month.

For example, if you need to generate 1,000 leads in a given year and you know that your sales force can generate 100 at a major trade show, you have 900 leads left to generate through other marketing tactics.

Summary

EXERCISE SUMMARY

When to Address

Who Should Participate

Where to Use the Results

When you’re planning a specific campaign

If you’re considering different types of campaigns to hit specific customer goals

If you’re creating your annual marketing plan

Marketing and sales leaders

Reference your goals while you’re selecting your campaign media type.

Use your goals to determine your projected campaign ROI during and after the campaign.

Marketing Campaigns  Quantify Your Goals

page 1 of 6

Why it’s Important

Understanding the relationship between the number of impressions, leads and customers will help you select the appropriate media types, forecast revenue better and more effectively manage your sales process.

Your campaign ROI projections, media used and campaign budget all should tie back What Builds Upon it to your original goals.

15 to 30 minutes Timeframe to Completion

Potential Business Medium. Good business decisions require solid projections.

Impact

Deliverable

You’ll determine your number of new customers to generate, the number of leads you need at each step in your sales process, and the number of impressions to generate.

Next Steps

Reference your goals while you’re selecting your campaign media type [531 and 538].

After you’ve created your goals, focus your campaign message and offer [532].

Target Completion Date

PARTICIPANTS

TASKS

PERSON RESPONSIBLE

DUE DATE

Marketing Campaigns  Quantify Your Goals

page 2 of 6

TASKS

PERSON RESPONSIBLE

DUE DATE

Notes

Marketing Campaigns  Quantify Your Goals

page 3 of 6

Quantify Your Goals

What to Complete

1. ESTIMATE RESPONSE RATE 2. PROJECT SALES PROCESS 3. SET CUSTOMER GOALS 4. CALCULATE GOAL METRICS

Where it Fits in Marketing Campaigns

Estimate Response Rate Project Sales Process Set Customer Goals Calculate Goal Metrics

Determine Business Goals Select Campaign Media Identify Target Step in Buying Process Select Messages and Activities [Jump to Campaign Subject to Plan Details] Determine # of Impressions, Leads and Customers Create Revenue and Profit Projections Create Budget and ROI Analysis Outline Media Plan Metrics Determine How Prospects Will Respond to Your Offer Create Fulfillment Plan Steps Measure Campaign Results Create an Improvement Plan

1. ESTIMATE RESPONSE RATE

Your response rate is the percentage of people that respond to your offer (i.e. take the initial action you request, like filling out a form, downloading a document, or placing a phone call). Response rates can be difficult to project because of the many variables involved in any campaign:

 List quality  Message

Marketing Campaigns  Quantify Your Goals

page 4 of 6

 Offer  Creative design  Medium  Timing  Brand

For example, a campaign promoting a discounted upgrade sent to the customers of a popular product might have a 35 to 40% response rate, whereas a cold email blast to an unqualified list might have a 0.2% response rate. (Don’t forget that the most important part of any campaign is the list)!

Open Exercise 537-­‐A. Start by inputting a response rate projection for your media. If you’re not sure, estimate it and refine later.

Media type

Estimated response rate

2. PROJECT SALES PROCESS

Next, continue in 537-­‐A. Enter your sales process for the campaign. If you haven’t already defined the steps in your sales process [Sales Process can help], simply enter in each step a customer takes prior to becoming a customer. Stay high-­‐level, and make your last step “Become a customer.”

As you’re creating each step, enter in the percentage of prospects that you believe will move to the next step in the process. An example process could be:

1. Click link to land on website: 5% 2. Fill out information request form: 15% 3. Attend demo: 75% 4. Complete trial: 66% 5. Become a customer: 70%

3. SET CUSTOMER GOALS

Continue in 537-­‐A. Select the number of the step that reads “Become a customer.” This will allow the workbook to calculate your metrics for you.

Then, enter in the step that is the primary goal for your campaign. Many campaign goals end at “Become a customer” but not all.

Marketing Campaigns  Quantify Your Goals

page 5 of 6

Primary campaign goal

Then enter the number of prospects you’d like to land at that step. If you haven’t yet defined them, you can enter your estimates and refine them as you work through the specific details for the media you choose (such as Email Marketing, Direct Mail, etc).

Number of new customers to generate

4. CALCULATE GOAL METRICS

Your data inputs are complete, and the worksheet will calculate the number of impressions and responses you need at each step to reach your customer goal.

Scroll down and view the Marketing Campaign Quantitative Goals Projection. This part of the worksheet is set as the default print area so you can print your report. Enter in your campaign information if you like.

You may want to run different hypothetical models to see the results from different response rates and conversion rates. You can use these metrics to help you understand the type and volume of media to purchase to meet your customer goals, or to understand what types of response rates you need to meet your customer goals.

What is your result?

Media type

Estimated response rate

Number of new leads we need to generate

Number of new customers to generate

Your next step is to determine what types of campaigns to use to generate these leads.

Marketing Campaigns  Quantify Your Goals

page 6 of 6