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4 Tips to Better Gauge the ROI of Your Custom Targeted Database

posted by Margaret Spencer on September 2, 2017

4 Tips to Better Gauge the ROI of Your Custom Targeted DatabaseIn a previous post, we took a look at five key metrics to gauge your list’s performance and effectiveness. But we left out one crucial KPI that you should always be keeping track of: the ROI that your list generates. As we’ll see below, measuring exactly how much return a Custom Targeted Database brings to the table can become a little challenging. That’s why we’re setting aside this entire entry to help you get started with this critical marketing yardstick.

It’s typically hard to correctly determine the ROI of most custom target lists since they’re mostly used for top-of-funnel activities. This means that, by the time a lead becomes a customer, the touch points associated with the contact list that contributed to the sale are often difficult to trace since they took place at earlier stages in the process.

To get around this, the following tips can help you reliably measure how much revenue your custom targeted database helped generate:

 

  1. Know exactly where contacts come from.

In order to accurately gauge ROI, you need to find out where every contact that becomes part of your list originated from. Did a lead come from organic sources? Which paid source did a particular database record pass through before entering your funnel?

For your custom targeted database, this means having separate fields that report where and how you got the contact information.

 

  1. Refine your sales funnel stages.

There’s a surprising statistic from MarketingSherpa being thrown around that claims 68% of marketers haven’t yet identified their sales funnel. If you happen to be part of this group, you need to define and refine the stages in your sales funnel right now.

What are the steps a prospect goes through before being deemed sales-ready? What actions constitute a conversion in each of these steps?

 

  1. Track and score leads throughout your funnel.

Once you’ve established the precise steps that a prospect has to go through in order to turn into an opportunity, you now need to assign points that indicate how sales-qualified that particular lead is.

This is called lead scoring and is a crucial component of accurately measuring marketing ROI. Points are assigned based on the lead’s attributes (demographic and firmographic details) and their actions (interest and intent).

 

  1. Match closed deals with past touch points.

Now that you’ve got contact source information and lead scores recorded in your custom targeted database, it’s time to take a look at the data for deal closes. These closes should be tied back to the series of touch points that preceded the deal.

Marketingprofs says there are four categories of closes based on source and nurture history. It’s important that you identify the right classification for a particular deal, so that credit and attribution can be correctly given.

You can now start reliably measuring the ROI of custom target lists with these four tips in mind. The main idea is that your custom targeted database does contribute to the revenues your marketing and sales processes generate, provided that you’re using it correctly in your campaigns.

Posted in B2B Contact Database | b2b contact leads database | Business | business directory database | Contact Database Provider | E-mail marketing services | Email List Provider | marketing | sales with no comment


5 Metrics to Measure the Health of Your B2B Contact List

posted by Margaret Spencer on August 31, 2017

You can’t manage what you don’t measure. That’s according to an old business adage that’s still relevant in marketing today, especially now that marketers are drowning in an ocean of metrics and KPIs that let them know what works and what doesn’t. So what numbers should you be keeping track of to get a feel […]

Posted in B2B Appointment Setting | B2B Contact Database | b2b contact leads database | b2b contact list | B2B Mailing Lists | Business | marketing | sales with no comment


A 5-Point Data Hygiene Plan for Your B2B Contact Leads Database

posted by Margaret Spencer on August 26, 2017

You may not know it, but you’re wasting at least 12% of revenues due to bad marketing data. That’s according to a review from Econsultancy that says bad data tend to directly impact profitability in as much as 88% of companies. That’s why proper data hygiene is as important as ever, since practically every marketer […]

Posted in B2B Contact Database | B2B Mailing Lists | Business | Business Contact Database | E-mail marketing services | Emailing List Provider | marketing | sales with no comment


The 5 Cases Where It’s Okay to Buy a B2B Contact Database

posted by Margaret Spencer on August 25, 2017

If you go around asking whether to buy a B2B contact database, chances are you’d soon end up being chastised for simply just thinking about it. This is a little unfortunate, since a bought list sometimes makes more business sense. In fact, there are specific cases where buying a list can potentially bring you better […]

Posted in B2B Contact Database | B2B Mailing Lists | Business | Business Contact List | Business Email List | Contact Database | Contact Database Provider | contact leads database | contact list | e-mail marketing | E-mail marketing services | Email List Provider | Mailing List Provider | marketing | sales | Telemarketing List with no comment


Is Your B2B Contact Leads Database Ready for the AI Revolution?

posted by Margaret Spencer on August 16, 2017

One of the main takeaways from Salesforce’s 2017 STATE of MARKETING report  is that investments in AI has outpaced spending in other marketing tech areas. B2B marketers are adopting AI technologies ranging from predictive lead scoring to chatbots in droves. But before you get caught up in the hype, there’s one thing you need to […]

Posted in B2B Contact Database | B2B Leads | B2B Mailing Lists | Business | Business Contact List | business directory database | Business Mailing List | Contact Database | Contact Database Provider | contact leads database | contact list | Contact Lists | Database Providers | marketing | Marketing Tips | sales | Uncategorized with no comment


Never One Without The Other: Email Marketing and Email Database

posted by Margaret Spencer on August 9, 2017

I found articles that say, “Email is Dead” and “Buying an Email List is a No-no” a faux. It’s definitely not the case, not if you know how to make your email marketing strategy a killer and purchase an effective email database. Email marketing is one of the distinct ways in B2B marketing strategies that enables […]

Posted in B2B Marketing | Business | Business Advice | business email database | Business Email List | business email lists | contact database for email marketing | E-Mail Lists | e-mail marketing | email database list | email lists for lead generation | Email Marketing List | lead acquisition | Lead Generation | marketing with no comment


Reminders For Starters In Email Marketing

posted by Margaret Spencer on August 7, 2017

What is email marketing? Email marketing involve sending emails like product advertisements, business requests, sales solicitations or donations to potential or current customers. As a starter in email marketing, sending emails to everyone you just know through LinkedIn, Facebook or Twitter might feel off to you. However, know that you are not the only business […]

Posted in B2B Marketing | Business | Business Advice | content marketing | e-mail marketing | lead acquisition | Lead Generation | marketing | marketing ability | Marketing Tips with no comment


The Change Occurring in B2B Marketing

posted by Margaret Spencer on August 4, 2017

For the past two years, there have been interesting shifts happening in the B2B enterprise like how buying decisions take place and who’s responsible for them. This was something that the people of Caterpillar noticed when they launched four videos entitled “Built for it” for their brand campaign 6 years ago. They realized that the […]

Posted in B2B Marketing | Business | Business Advice | marketing with no comment


5 Shocking Linguistic Red Flags Killing Your Email Marketing Campaign

posted by Margaret Spencer on July 31, 2017

Undeniably, an email’s content is important in email marketing. You can say, it is the heart of your campaign for it contains the message you want to convey to your target audience. Rather appallingly, there are errors that B2B email marketers tend to commit or overlook in an email’s content. So if you’re gearing toward […]

Posted in B2B Marketing | Business | Business Advice | e-mail marketing | marketing | Marketing Tips with no comment


6 Signs Your Email Marketing Service Provider Is Doing It Right

posted by Margaret Spencer on July 28, 2017

Email marketing is far from dead. In fact, a recent survey conducted by Ascend2 revealed that using emails is the first of the top three most effective digital marketing tactics used by more than half of companies with a rating of 61%. Also, according to Hubspot, 59% of B2B marketers consider email as the most […]

Posted in B2B Marketing | Business | Business Advice | e-mail marketing | E-mail marketing services | lead acquisition | Lead Generation | Lead Nurturing | marketing | marketing ability | marketing automation | Marketing Tips | sales with no comment


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