PHOTO:
Kristaps Ungurs
Over the past few years, CMOs have expanded their ability to measure marketing impact by investing in the ability to attribute revenues to their efforts. But are they maximizing their teamâs contribution to said revenues?
In 2019, the data science team at my firm, Optimove, coined the concept of a CRM Contribution Metric as a means for companies looking to grow through their existing customers to gauge the financial impact and effectiveness of their retention marketing. Back then, they discovered that top brands drive an average contribution of 33% to their revenue from this marketing.
(Note: The term CRM Contribution Metric is explained in full at the end of this article)
PHOTO:
mumemories
Content syndication and other third-party demand generation programs gained a lot of attention in 2020. The reasons for this spike are varied and include:
The COVID-19 pandemic causing teams to reallocate events budget to other demand-generating channels.
Plateauing results from inbound marketing efforts alone.
The rise in intent data and its positive results for third-party demand campaigns.
The improvement of third-party demand solutions/services themselves.
Improved education and skills among B2B marketers leveraging third-party programs.
Though the popularity and impact of third-party demand generation initiatives have significantly jumped over the last year, itâs important for B2B marketing teams to understand everything that goes into a successful program. You canât simply set it and forget it.