Salesforce is a customer relationship management solution that brings customers and companies together. It’s an integrated CRM platform that gives departments like sales, marketing, commerce, and services a single shared view of every customer.
Salesforce provides the fastest path from an Idea to an App. It is wise to build your app using Salesforce tools rather than the infrastructure and tools. It will save you a lot of time and millions of dollars.
Salesforce is unique because its:
- Fast – Traditional CRM software takes more than a year to deploy, while Salesforce is much faster.
- Easy – You can put it more to use rather than figuring it out.
- Effective – Customers find it very compelling as it is customized to meet business needs.
- Since it is in the cloud, it can be used from anywhere with the internet.
- It doesn’t matter if you’re a new business or an old one, it is scalable to growth.
- It seamlessly integrates with 3rd party apps like Gmail or any accounting software. On the contrary, integration is tougher with other CRMs.
- It is very affordable, considering its wide variety of capabilities. Hence, startups and small businesses can also use it.
Marketo Reporting
Gone are the days when sales were credited as the only existent and consistent exchange between the buyers and the seller.
Now, CMO’s contributions are measured and acknowledged with the right metrics and reporting tools. They can directly measure the results of their activities and report their performance in marketing automation systems.
Marketo equips organizations and marketers with a comprehensive range of reporting tools to gauge all types of marketing activities.
Types of Marketo Reporting Tools for CMOs
Marketo reporting tools are broadly classified into two programs: the basic and the advanced reporting tool. Both are designed to help CMO measure and track the effects of their marketing efforts from demand to revenue generation. Here are the most commonly used essential reporting tools –
1) TOFU Lead Analysis
“Top-of-Funnel” metrics or “TOFU” is the first metrics used to evaluate a program. Genuine opportunities, i.e., leads who have been acquired by the sales team, and are being pursued, take a while to convert into customers, but until then, you’ll have to measure the number of successes, program investment, the total number of targets, Investment per target, and average demographic score.
TOFU lead analysis utilizes marketing automation and helps you in answering questions like, which program is more pocket friendly or brings in highly qualified leads or targets effectively?
2) MOFU Opportunity Analysis
Once opportunities are built, you’ll use “Middle-of-Funnel” or “MOFU” metrics to determine whether your programs are worth investing in. Marketo’s Revenue Cycle Analytics tools let you track metrics like Program costs and successes, Investment per opportunity created, opportunities won, or Investment per opportunity made.
3) Program Channel Performance
Analysis of the channel performance helps you in seeing which channel is best for creating targets and opportunities. This kind of channel performance report can be run in Marketo Revenue Cycle Analytics to determine the number of targets you’ve made per channel, or to see the cost per target, or the number of targets who’ve turned into opportunities, and the time it took to create these opportunities.
4) Group by Vendor/Channel for More Insights
You’ll need insight into how different vendors compare to one another, especially if you’re running a lot of paid programs. Unfortunately, it is hard to see the big picture by examining each program line by line. You’ll get a much clearer idea of which vendors to use and which to ditch by consolidating the data across vendors and channels and examining your paid program vendors simultaneously.
5) Content Program Performance
Paid programs let you send content to leads in a vendor’s database and leads who aren’t already on your list but fit your criteria. Certainly, there will be content that will specifically work best for specific audiences, and it’s not wise to waste your paid send with content that misses the point. That’s why it’s crucial to know how that content is performing, even if you’re a sponsored email list or running a content syndication program.
6) Content Impact
You’ll want to measure the impact of your content across all of your marketing as content marketing can be a tough sell on the C-suite. Marketo Revenue Cycle Analytics tracks pipeline, opportunities, and revenue, everything that the organization cares about most. It will also tell you which content is driving prospects to become customers and which will help you in planning for your next round of content assets.
7) Opportunity Influence
In today’s time, it’s evident that marketing will “touch” prospects multiple times before they become a customer. Tracking opportunity influence helps you in determining all that the marketing touches throughout the lead lifecycle, which provides an accurate picture of how your marketing investments lead to sales.
8) Pipeline to Investment
You’ll want to track the Investment and opportunities created from each channel to delve deeper into the marketing programs. You also want to track your pipeline-to-invest ratio or your pipeline divided by Investment to understand what works and what doesn’t. Your organization will have to define its own “acceptable” range of ratios, indicating which investments are to be repeated, avoided, or adjusted.
