Budgeting for Marketing Performance: How to Save Time, Spend Wisely & Do More with Less
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The document discusses budgeting for marketing performance and saving time and money. It provides tips for making marketing a profit center, defining outcomes, getting sales buy-in, cutting unsuccessful past items, organizing budgets by objective not function, and tying bonuses to sales performance. A potential reporting structure is outlined focusing on attracting, engaging, growing, and retaining customers. The document also discusses launching account-based marketing, defining a pipeline development framework with target markets, sales cycles, teams, messages, reach, technology, and metrics. It provides a pipeline development maturity model and emphasizes having sales and marketing work together towards the shared goals of pipeline development.
Budgeting for Marketing Performance: How to Save Time, Spend Wisely & Do More with Less
- 2. Budgeting for Marketing Performance: How to Save Time, Spend Wisely & Do More with Less Matt Heinz Founder & President, Heinz Marketing Inc @heinzmarketing [email protected]
- 3. Housekeeping Copy of this deck FREEBIES! Full Funnel Marketing The Predictable Pipeline (the new book!) Our B2B KPI Dashboard Architecture Sales Velocity Calculator Bacon Bring me a business card (or send an email to [email protected]) with what you want
- 5. Or keep doing the alternative:
- 6. What they think of you
- 9. Sales & marketing = the same objective
- 10. Impact the entire customer lifecycle
- 11. Shared & integrated resources Tools Platforms Campaigns Content Insights Dashboards
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- 15. A widening gap between investment & ROI According to CEB: 45% of B2B marketing budgets go to content 84% of marketers expect to increase content spend Only 45% of marketers think content marketing is working 66% of marketers can’t connect content metrics & business metrics
- 16. ABM yourself to get…..ABM?
- 17. Keys to launching ABM Outcomes first (and always) Map the internal buying committee, build consensus Challenge the status quo Securing budget Drive deep coordination with sales
- 18. Defining Outcomes Revenue growth Target account efficiency Opportunity cost Where is there quantifiable pain right now?
- 19. ROI CALCULATOR
- 21. Seven keys to great marketing budgets
- 22. Ask for organization goals up front
- 23. Get sales buy-in first
- 24. Cut unsuccessful items from last year (and explain why)
- 25. Organize by business objective (instead of marketing function)
- 26. A potential reporting structure Attract (Market Development) Engage (Demand Creation & Qualification) Grow (New Pipeline Contribution & Conversion) Retain (Customer Lifetime Value)
- 27. Atract (Market Development) Net-new inquiries Re-engaged inquiries Web traffic Social reach/engagement Content reach/engagement
- 28. Engage (Demand Creation & Qual) Net-new qualified sales leads Re-engaged existing sales leads Demo and guided tour engagement Net-new qualified opportunities created
- 29. Grow (Pipeline Contribution & Conversoin) Marketing-generated pipeline & closed deals Net-new leads tracked directly through the pipeline Marketing-influenced pipeline & closed deals Existing/previous leads tracked through the pipeline
- 30. Retain (Customer Lifetime Value) Customer renewals & upsells Customer “saves” Past customer win-backs
- 31. Project results wherever possible (revenue, not just spend)
- 32. Make future expenditures contingent on early success
- 33. Tie bonuses to sales performance
- 34. For discussion: Where are the weak points in your Profit Center Marketing execution? Do you have a revenue-accountable culture in your marketing organization? Do your peers see it the same way as you? Pros/cons of your relationship with: CFO CEO Board Head of Sales
- 35. The Pipeline Development Framework Target Market Sales Cycle Team Message Reach Enabling Technology Metrics of Success
- 36. The Pipeline Development Framework Target Market Sales Cycle Team Message Reach Enabling Technology Metrics of Success Plan & Understand Execute Measure
- 37. Pipeline Development Framework: Plan & Understand Target Market Sales Cycle Team Message Segments, Ideal Customer Profile(s), target & prioritized accounts, personas, qualification criteria, list building Length of time, number of meetings, decision process, buyer journey, deal size (how people buy) Roles and responsibilities, skills structure, hand-offs, prospecting->engagement->closing->onboarding “Point of view”, value proposition, subject matter expertise (need/outcome), trust validation
- 38. Pipeline Development Framework: Execute Reach Enabling Technology Phone, email, social, IRL, events. The playbooks and outreach flows to contact prospects. Contact details, automated outreach/nurture, deal tracking
- 39. Pipeline Development Framework: Measure Metrics of Success Contacts created, leads generated, opportunities created, connect rates, conversion rates, revenue contribution
- 40. The Pipeline Development Framework Target Market Sales Cycle Team Message Reach Enabling Technology Metrics of Success Segments, Ideal Customer Profile(s), target & prioritized accounts, personas, qualification criteria, list building Length of time, number of meetings, decision process, buyer journey, deal size (how people buy) Roles and responsibilities, skills structure, hand-offs, prospecting->engagement->closing->onboarding “Point of view”, value proposition, subject matter expertise (need/outcome), trust validation Phone, email, social, IRL, events. The playbooks and outreach flows to contact prospects. Contact details, automated outreach/nurture, deal tracking Contacts created, leads generated, opportunities created, connect rates, conversion rates, revenue contribution
- 41. Pipeline Development Maturity Model Initial Ad-Hoc Defined Managed Optimized Target Market Lack of clearly defined target market and Ideal Customer Profile (ICP), no personas Limited/assumption-based approach to market/customer. Limited to no qualification criteria defined Ideal Customer Profile defined, personas defined and articulated Known accounts, defined and agreed to qualification criteria, defined and confirmed personas Iterative approach to target account identification, dynamic personas, qualification criteria drives targeting Sales Cycle No known or defined repeatable approach Ad hoc approach & understanding of how customer buys Understood time and decision making process, friction remains Known and articulated buying journey, enablement focus Selling process aligned with buying process, all known friction removed Team Undefined roles and responsibilities, no skills mapping/development Major functional roles defined, high churn, low performance Roles, responsibilities, and competency profiles defined and operational Responsibilities and hand-offs known and operational, team is performing Aligned team structure, career path and skill milestones Message No unified message and/or compelling value proposition Confusing and disorganized message, no consistency and company-centric Defined messaging and positioning mapped to audience, speaking to market and needs vs. feature/benefit Content editorial calendar in place, major trust validation content in production, defined industry “point of view” Versioned strategic messaging framework approach, content editorial calendar speaks to customer need/outcome Reach One-off bulk emails, direct ask outreach “Every person for themselves” with no coordination Sales playbook(s) in place but used for reference vs. execution Coordinated efforts among email, phone, online, offline channels Integrated and executed outreach “plays” across channels Enabling Technology Limited to no real technology in place. Basic email, phone, spreadsheets Individual purchase decisions drive technology, low utilization, no integrated plan Major categories purchased and in place, some coordination among teams All current tools configured and utilized to justify expenditures Technology aligned with process, approach in place to test new tools Metrics of Success Random and inconsistent measurement Individual teams and contributors track and promote their metrics Major categories tracked but bias towards actions vs. outcomes Alignment around creating opportunities and revenue contribution across all activities Full funnel measurement and accountability
- 42. Sales + Marketing = Pipeline Development Process Focus Sales Marketing Define Target Market Support Lead Understand Sales Cycle Lead Support Build and Train Team Lead Lead Create Compelling Message Support Lead Reach Prospects Support Lead Choose Enabling Technology Lead Lead Apply Metrics of Success Lead Lead
- 43. A3 PhaseApproach REVIEW DESIGN DEPLOY
- 44. Conduct a Pipeline Development Review Ideal Customer Profile defined and approved? Target personas for all involved in buying process? Messaging by audience? Compelling positioning? Content mapped to funnel stage? Internal sales process defined? Aligned metrics and incentives?
- 45. The Pipeline Development Review Review Step Details Ideal Customer Profile defined and approved? Definition includes attributes of your “best” customers – lifetime value, revenue growth, satisfaction, etc Target personas for all involved in buying process? Who can say yes? Who can say no? Who slows things down? Messaging by audience? Speak to their need and desired outcome Compelling positioning? Rats vs. Dents Content mapped to funnel stage? Not about you, about them Internal sales process defined? What happens when? Who does what? Aligned metrics and incentives? Are you closing to the right thing?
- 46. How we doin’?
- 47. Don’t try this all at once
- 48. Housekeeping Copy of this deck FREEBIES! Full Funnel Marketing The Predictable Pipeline (the new book!) Our B2B KPI Dashboard Architecture Sales Velocity Calculator Bacon Bring me a business card (or send an email to [email protected]) with what you want
- 49. Matt Heinz President, Heinz Marketing @heinzmakreting [email protected]
Editor's Notes
- #20: Use this slide to share the ROI calculations that you derived using the companion excel asset provided with this powerpoint deck