Remember this rom-com from 2009? Despite the critics giving it mixed reviews, it went on to gross $219.1 million worldwide. A hit movie for sure.
Sometimes I feel the same way about industrial marketing for lead generation and its relationship to sales – It’s Complicated!
Every industrial company I talk to wants more leads at a lower cost per lead. Yet, very few have a formal process in place to measure marketing’s contribution to sales and revenue.
It is easy to measure data points such as Visitors, Pageviews, Pages/Visits etc. and downloads but it is not easy to tie them back to actual sales. Measuring ROI or ROMI sounds good in theory but difficult to accurately measure in the real world. According to some marketing pundits, these may be too simplistic to understand marketing’s full impact on sales.
Here are two sobering findings from a 2013 survey done by the B2B Technology Marketing Community on LinkedIn and managed by Holger Schulze (@HolgerSchulze).