Technology plays a critical role in the success of today’s marketers. Marketers use technology to help us make smarter decisions, execute more effective campaigns, and drive more revenue.
But with so many new technologies rising up every day, how does a marketer decide which tools, channels, and metrics to focus on to improve marketing performance and grow their business? Pipeline marketing may help with this challenge.
What is Pipeline Marketing?
Pipeline marketing is an approach to developing your marketing strategy and measuring marketing success based on closed revenue and insights into your customers, sales funnel and marketing spend.
Pipeline marketing helps marketers understand the true impact their marketing efforts are making, so they can make more informed decisions about their marketing activities and technologies, to ultimately generate more customers and revenue.
To try to understand what pipeline marketers are doing differently, and to also learn more about how marketers are prioritizing and measuring success, Bizible and PipelineMarketer.com surveyed 370 CMOs and marketers – with the majority in the B2B marketing space, from both large and small companies in a wide range of industries – and this is what they found out:
Top Revenue-Generating Channels
89% of marketers say they use email marketing to find and engage prospective customers, followed by content marketing (82%) and SEO (79%). Conferences and trade show booths, paid search and PR activities are other top channels marketers have used to generate demand.
The channels marketers reported to have the biggest impact on revenue are email marketing (15.8%), conferences and trade show booths (12.9%), SEO (12.5%), and content marketing (12.1%).
Marketing Success Measurement
To measure success of their marketing efforts, a large percentage of survey respondents use total opportunities (23.5%), total revenue (19.2%), and total leads (13.5%). Rounding out the top six metrics are return-on-investment (11.9%), conversation rate (9.2%), and total customers (5.4%).
What Do Effective B2B Marketers Do Differently?
Bizible and PipelineMarketer.com found that effective B2B Marketers do these three things differently than their less effective peers:
- Prioritize conversions over lead generation.
- Measure marketing success using down-funnel metrics, such as total opportunities and revenue.
- Align more tightly with their sales team.
For more on my thoughts on this, check out “Hey Marketing, An Inquiry Is Not A Lead!”
Marketing Technology ROI
The foundation of a successful marketing strategy involves a well-designed technology stack. 43% of marketers say they use a combination of a CRM, marketing automation and attribution tool, and they reported greater ROI from their marketing spend compared to marketers who do not use these technologies.
How Marketers Do Attribution
With attribution, 55% of marketers use a single touch attribution model to understand where their leads are coming from and the path these leads take through the funnel.
However, many of the survey respondents say that they are aware of the inaccuracies of single touch models, which may explain why only about 43% of CMOs and 30% of marketers believe they are using the right attribution tool.
30% of CMOs and marketers also reported that they are planning to change their attribution model in the next six months, so they can better measure the effectiveness of their marketing spend and technology stack to optimize future marketing efforts.
Regardless of the attribution model marketers adopt, over 75% responded that their top marketing priorities are generating and converting more leads into customers.
A small percentage of marketers say their top priority is to better understand the ROI of their marketing activities (7.4%) and to implement or improve their marketing attribution (7.4%).
How is your company prioritizing and measuring marketing success? Is your approach similar to pipeline marketing?
Are you interested in engaging and converting new customer for your business? Contact me here and let’s talk about how we can help.