I am a big fan of the analyst Sirius Decision and their Demand Waterfall Model. Use this to map how you attract and engage new customers. Determine the role of marketing, telemarketing, and sales against the buyer journey, and define then difference between accepted and qualified leads.
The SMART method is one of the most popular and effective tools for creating realistic and achievable goals for demand generation. A SMART goal stands for:
- Specific - Your goal should be unambiguous and communicate what is expected, why it is important, who's involved, where it is going to happen and which constraints are in place
- Measurable - Your goal should have concrete criteria for measuring progress and reaching the goal
- Attainable - Your goal should be realistic and possible for your team to reach
- Relevant - Your goal should matter to your business and address a core initiative
- Timely - You should have an expected date that you will reach the goal
Revenue generation will be the ultimate goal, but you also need to measure what drives revenue. Typically, marketers might have goals for Visits, Contacts, and Customers for the year, quarter, or month and the numbers are closely related to each other.
- Visits - You should focus on visits if you are just getting started with your website, or if you already have good conversion rates for visits to leads and leads to customer, but need additional traffic to add some fuel to the fire
- Contacts - You'll want to focus on Contacts if you are satisfied with the amount of traffic to your content , but you are not getting enough leads for sales. This is the segment that most HubSpot users focus on
- Customers - Focus on this If you are getting a healthy amount of traffic to your content, visitors are converting on forms, but the leads just aren't ready to close into customers
This is important to get right. A Hubspot survey among 900 management-level marketers in North America and Europe found that 74% of companies that weren’t exceeding revenue goals did not know their visitor, lead, marketing qualified leads, or sales opportunities. Measuring each step will help you determine the most effective activities and content for each step in the buyer journey.
Feel free to contact us to discuss this in more detail.