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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


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


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


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


How to Know When It’s Time to Purchase a Targeted Email List

posted by Margaret Spencer on July 26, 2017

Notwithstanding the fact that purchasing a targeted email list can be a good way to promptly grow your contact database, most marketers are still reluctant to do so (well, who wouldn’t with all the bad rep that purchased contact lists have been getting these days?). Let’s scratch that! Purchased contact lists work just fine! You […]

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


The 4 K’s of Good Sender Reputation for Email Marketing

posted by Margaret Spencer on July 24, 2017

Simply put, the sender score is an indicator used by email providers to gauge how trustworthy an email source is.  A wide range of variables is taken into consideration to check a sender score. It includes bounce rates, spam complaints, industry blacklists—to name a few. Your sender score can make or break your email marketing […]

Posted in B2B Marketing | Business | Business Advice | business email service | e-mail marketing | E-mail marketing services | marketing | Marketing Tips with no comment


Run These 6 Data Hygiene Checks On Your B2B Email Lists Before Your Next Campaign

posted by Margaret Spencer on July 21, 2017

Whether it’s B2C or B2B, email marketing has always been an excellent approach to nurture prospects, convert sales-ready leads, and solicit repeat and referral business. However, in order to be effective, your contact list requires a solid foundation. And whether you’re employing bought or home-grown data, doing hygiene checks on your email lists is crucial […]

Posted in B2B Contact Database | B2B Marketing | Business | Business Advice | Business Contact Database | Business Contact List | Business Database | business email database | Business Email List | business email lists | Business List | Contact Database | Contact Database | contact database for email marketing | contact list | Contact Lists | data cleansing | data tips | Database | E-Mail Lists | e-mail marketing | email database list | email lists for lead generation | Email Marketing List | lead acquisition | Lead Generation | Leads Database | marketing | Marketing Tips | Record Lists | Sales Leads Database with no comment


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