For some companies it is difficult to generate ROI models for marketing initiatives. This is especially true for organizations with very well established sales channels. When this is the case, it can make sense to understand the role of marketing initiatives in lead nurturing and sales assistance. Extractable will often dive into the data to see if there are trends in how marketing affects the following areas:
- Higher Lead to Customer Conversion Rates: Do prospects and/or leads that are exposed to or interact with marketing convert at higher ratios than leads that do not interact with marketing initiatives?
- Faster Sales Cycles: Do leads that interact with marketing initiatives convert in fewer calendar days than leads that do not interact with marketing?
- Higher Quality Leads: Are leads that interact with marketing converting at higher dollar amounts both at the initial engagement and over the lifetime of a customer?
Often, companies are not integrating data from their CRM and their marketing tracking which can make data gathering challenging. In the strong majority of cases this effort is worth it. Extractable often finds that marketing has a quantifiably significant impact on the conversion and quality of leads and therefore has a defined value during the sales cycle. The largest benefit for this type of data gathering initiative is finding which channels and which types of marketing are the most influential during the sales cycle.