May 25, 2022
Today on 3-Minute Marketing, I'm chatting with Kristi Melani. She's currently CMO at Telesign, an industry-leading Communications Platform as a Service (CPaaS) that's relied on by the world’s most trusted brands. Prior to Telesign, Kristi headed up growth marketing efforts for technology brands like Anaplan, Poly & Plantronics.
Kristi has a contrarian perspective on evaluating marketing performance that piqued my curiosity. So I asked Kristi to tell us, "Why is the benchmark dead in marketing... and what should marketers use instead?"
Show notes:
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Then pandemic shook up the tradition of reporting YoY benchmarks dramatically, because everything changed (including the traditional channels marketing and sales teams relied on).
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Marketing is often measured on SQLs, but not all SQLs are measured the same. For example, some SQLs may have a higher deal value or close at a higher rate.
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Come up with what and how you want to be measured. Then come up with the equation, such as, "I want to be measured on MQLs, SQLs, average deal size, Closed Won opportunities and net retention." Together, these tell a more holistic story of marketing's contribution than one KPI.
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The fact is that some results in marketing are hard to measure. So by evaluating marketing off of a blend of important metrics, you can deliver a more realistic view of marketing's impact.