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Eloqua Masters Cert. > Revenue Performance Management - LD > Flashcards

Revenue Performance Management - LD Flashcards

1
Q

What are the five key factors of RPM?

A 
Sales Pipeline
Demand Generation
Lead Management
One View of the Truth
Revenue Discover
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2
Q

What should key metrics should be benchmarked prior to implementing changes?

A

Contact Field Completeness
Campaign Engagement
Deliverablity Rates

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3
Q

Poor data quality leads to:

A
  • Lost productivity
  • Lack of Marketing and Sales alignment
  • Lost Trust
  • Last of campaign analysis
  • Bad reporting
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4
Q

What are the five steps to Data Quality Management?

A
  • Commit to Data Quality
  • Analyze Existing Data
  • Choose your Data Quality Methods
  • Automate
  • Optimize
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5
Q

How do you commit to data quality?

A
  • Identify key stakeholders
  • Define and prioritize your goals
  • Define metrics of success and benchmark current data health
  • Create a plan
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6
Q

What are samples of data quality goals?

A
  • Increase completeness for Job Title field
  • Overhaul consistency of Country or State
  • Replace old data with refreshed data
  • Update old forms to only use single select lists for fields like Industry, Country, Language Preference, etc.
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7
Q

What are steps to analyze existing data?

A

Data Sources
Data Weaknesses
Data usage

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8
Q

Who owns responsibility for data quality?

A

IT
Marketing Ops
Sales Ops
Governance Council

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9
Q

What are some weaknesses you may see when you are looking at your existing data?

A

Not Complete
Not Current
Not Consistent
Not Correct

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10
Q

Name field that can be standardized using lists.

A 
Job Level
Revenue Range
Number of Employees
Country
State or Province
Language
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11
Q

Which fields are priorities to standardize?

A
  • Fields you need for targeting

- Field you need to scoring

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12
Q

What kind of data might you want to append?

A
  • Purchase History
  • Zip Code, City, State
  • Census and Neighborhood data based on address
  • Individual Details: Age, gender, income, occupation, etc.
  • Account Details: Company Size, Revenue, etc.
  • Klout score
  • Social Media Accounts
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13
Q

How does a Contact self target?

A
  • Subscription Management
  • Preference Center
  • Respect the preferences
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14
Q

What audience targeting methods are found within a marketing org?

A
  • Creating persona(s)
  • Identify Key Segments such as demographic and buyer types
  • Match target Audience to message
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15
Q

What are the guiding principles for a Preferences Center?

A
  • Build only what you can support

- If you provide choice, you must honor it.

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16
Q

What are the three categories of tools for tackling data quality?

A
  • Validate and Verify
  • Standardize and Cleanse
  • Enrich
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17
Q

What are some states to integrate and automate data?

A
  • Set up picklists
  • Add form vaildation
  • Set up one time database wash using contact washing machine
  • Use 3rd party cleaning
  • Use Eloqua’s Contact washing Machine on a continual basis
  • Integrate data enrichment
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18
Q

What should be included in a preference center?

A
  • A description of email subscription topics
  • Set a frequency of communication
  • Make it quick easy and obvious
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19
Q

T or F: It is legal to have a visitor click more than once to unsubscribe.

A

False. They must be able to unsubscribe with one click.

It is also illegal to force visitors to enter additional information beyond their email address.

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20
Q

What are RPM subscription metrics?

A 
Unsubscribe rate
Subscription rate
Complain rate
Sender score
Deliverablity Rate
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21
Q

What are personas?

A

Personas are fictional characters that represent your ideal buyer and types.

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22
Q

Name the standard buyer types.

A 
Economic Buyer
User Buyer
Technical Buyer
The Coach/ Champion
The Influencer
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23
Q

List the Buyer’s Journey

A 
Interest
Learn 
Evaluate
Justify
Purchase
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24
Q 
Match the Buyer Type with the following Buyer Journey Stages:
Interest
Learn 
Evaluate
Justify
Purchase
A 
Interest - The Coach/ Champion
Learn - The Influencer
Evaluate - User Buyer
Justify - Technical Buyer
Purchase - Economic Buyer
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25
Q

What are the five steps to building personas?

A
  • Research Ideal Customers
  • Gather the Team
  • Brainstorm and create personas
  • Map the Journey
  • Apply RPM
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26
Q

T or F: Segments and personas are the same thing.

A

False.

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27
Q

T or F: A positive trend in contact activity means that you should scale back communication immediately.

A

False.

A positive trend in activity indicated that communications are effectively engaging your audience.

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28
Q

Define nurturing.

A

Nurturing is an action that helps move a buyer through the buying cycle and is a perpetual process.

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29
Q

List the reasons to nurture.

A
  • Increase leads
  • Minimize lost leads
  • Create and maintain prospect engagement
  • Measure the readiness of prospects
  • Complete contact profiles
  • Demonstrate thought leadership
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30
Q

Name three things to benchmark during nurture.

A
  • Volume
  • Reach
  • Engagement
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31
Q

Define Volume

A

Total activated campaigns / tactics and email frequency

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32
Q

Define Reach

A

Number of Individuals in each campaign or tactic

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33
Q

Define Engagement

A

All campaign activity or Total number of campaign responders

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34
Q

T or F: The total number of campaign responses equals the number of new leads generated.

A

False.

A response to a campaign does not equate to a new lead.

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35
Q

Why are naming conventions important?

A
  • Organize Assets for easy renewal
  • Simplify reporting
  • Document internal knowledge
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36
Q

List the naming convention components

A
  • Campaign Codes
  • Asset Codes
  • Offer Codes
  • Country Codes
  • Fiscal Code
  • Theme code
  • Business Unit
  • Product code
  • Date
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37
Q

What are the three action to start targeting?

A
  1. Defining Campaigns and Costs
  2. Creating Segments and Target Audiences
  3. Benchmarketing
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38
Q

Define a Campaign.

A

A campaign is a specific set of assets used to communicate messages to move individuals until one buyer stage to another.

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39
Q

Give examples of Campaign assets.

A
  • Email
  • Landing Page
  • Automated Campaign
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40
Q

Define Offer.

A

An offer is an incentive to respond to the Campaign.

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41
Q

Define an activity.

A

An activity is an inbound activity on a campaign/tactic.

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42
Q

Define a response.

A

A response is a specific activity, defined in advance by user with a response rule.

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43
Q

Define a segment.

A

A segment is a portion of your database you plan to target in a marketing communication.

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44
Q

Define criteria that you can use for segments.

A 
Job title
Geography
Purchase history
Behavior
Company Size
Company Revenue
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45
Q

T or F. Segments and Personas are the same thing.

A

False.

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46
Q

Define Campaign Objectives.

A 
Contact acquisition.
Lead generation
On-Boarding/adopting
Renewal
Up-sell/cross-sell
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47
Q

What is the most important element about implementing a naming convention?

A

That the naming convention be consistent.

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48
Q

Map the steps to develop a Campaign Strategy

A
  • Persona Journey
  • Content Audit
  • Channel Audit
  • Campaign Map
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49
Q

What are some discoveries you might be completing a content audit?

A
  • Uneven distribution of content across the buyer’s journey
  • More Content than you thought
  • Old Content
  • Too much or too little content about certain pain points
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50
Q

Define the steps as a Content Audit

A
  1. Brain Content types (blog, whitepaper)
  2. Align content types to the buyer’s journey
  3. Brainstrom content for each phrase of the journey
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51
Q

List samples of content types

A 
Blog 
Whitepapers
website
customer reference/testimonials
Industry awards and industry reports
Features/benefits sheets
video demos
Social engagement
Success Stories
Pricing and cost comparison sheets
3rd party content
webinars
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52
Q

Define active recycle leads.

A

Sales person active passed lead back to Marketing

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53
Q

Define passive recycle.

A

Lead becomes inactive and expires from lead stage.

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54
Q

Is the Buyer’s journey one way?

A

No.

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55
Q

What are the steps in the recycle process?

A
  • Communicate with Sales
  • Establish a list of reason codes to make the process as smooth and consistent as possible.
  • Based on reason codes, draw the paths for active and passive recycles
  • Regularly check the recycle campaigns to engagement level and lead score of the recycled leads
56
Q

Outline the five steps of a tactical Campaign Plan

A
  1. Set a campaign goal
  2. Choose the target audience
  3. Develop the relevant message
  4. Create a compelling offer
  5. Set the integrated tactics
57
Q

Name the different ways a campaign message can be relevant.

A
  • Interest
  • Responsibilities
  • Pain points
  • Vertical
  • Phase in buyer’s journey
58
Q

Name the goals that offers that should meet.

A
  • Fulfill a perceived need
  • Have a good perceived value
  • Be practical
  • Should be appropriately aligned to the customer
  • have a clear connection with the brand
59
Q

Define outbound communications.

A

Marketing reaching out to communicate with a contact

60
Q

Define inbound communications.

A

Potential buyer finding you on their own.

61
Q

What are the goals of the using the variety of channels in a campaign?

A
  • Matching channel to buyer’s journey
  • Matching content to appropriate channel
  • Matching channel to target audience
62
Q

List the steps for a successful campaign execution

A
  1. Get sign-off from governance
  2. Involve stakeholders and key people
  3. Gain required approvals
  4. Create a communication plan
  5. Create a training plan
  6. Create a checklist
  7. Identify a process to execute
  8. Test
  9. Launch
63
Q

Why are checklist important?

A

Checklist are important to ensure that your campaign is executed flawless every time.

64
Q

What are automation opportunities?

A
  • Locates tasks that are currently manual
  • Determine if automation will improve efficiency
  • Prioritize
  • Automate
  • Benchmark before and after
65
Q

What are some possible triggers that could result in nurturing?

A
  • Purchase
  • Visit to website
  • Whitepaper download
  • Product trial download
  • Abandoned shopping cart
  • Event attendance
66
Q

Why is it worthwhile to create an integrated Marketing and Sales funnel and map it to the buyer’s journey?

A
  • Improved segmentation
  • Increased alignment
  • Enhanced reporting and accountability
  • Increased revenue and growth
67
Q

What funnel metrics should be benchmarked?

A 
Form Submission
Number of new prospects
Number of qualified leads
Lead score distribution
Conversion
68
Q

Define the four steps of the Marketing and Sales funnel.

A
  1. Identify Stakeholders
  2. Document Definition
  3. Online Roles and responsibilities
  4. Document Assignment Rules
69
Q

List the stakeholders who should define the integrated Marketing and Sales funnel.

A
  • Marketing Operations
  • Marketing Management
  • Product Marketing
  • Sales Operations
  • Sales Management
  • Data Governance
  • The best and the brightest
70
Q

What are the stage of the funnel stage definitions?

A
  • Be specific
  • Define what
  • Define who
  • Define how long
71
Q

What should funnel stages definitions should be based on?

A

Marketing Requirements.

72
Q

T or F. The definitions of a Marketing Qualified Lead should be created by Marketing.

A

False.

All funnel stage definitions should be scoped and agreed upon by both Sales and Marketing stakeholders.

73
Q

T or F. Lead Expiration: As soon as lead is beyond the SLA compliance timeline it should be auto- revert to Marketing in the prospect phase.

A

Maybe.

Your business culture and requirement need to dictate when lead expiration occurs.

74
Q

What are reasons you might see a spike in the number of leads on a sales person’s aging report?

A
  • Too many leads
  • Poor quality leads and therefore a loss of trust
  • On vacation
  • Time management
75
Q

Some reason for sales passing back leads to marketing are:

A
  • Lost to competitors
  • No budget authority
  • Timeframe to buy wasn’t right
  • Opportunity has simply stalled
76
Q

T or F: Marketing should not communicate with buyers that are in the later funnel stages.

A

False.
Marketing may take a secondary role in later stages of the buyers process.
Marketing and Sales should work together to define primary and secondary communication roles at each stage of the funnel.

77
Q

List the 5 steps for breaking down the lead process flow:

A
  1. Identify Core Team
  2. Document and assess current state
  3. Audit system requirements
  4. Document Future State
  5. Manage Change
78
Q

What question should you ask to document your current lead process flow?

A

What is happening?
Where is it happening?
When is it happening?
Who is doing it?

79
Q

What are two key metrics to measure when revising and optimizing lead process flow?

A
  • Funnel Stage Conversion

- SLA Compliance

80
Q

What are the primary benefits to having a process flow diagram?

A
  • Share understanding of process
  • Ability to highlight opportunities for improvement
  • Closed-loop process development
81
Q

What are some systems that should be audited?

A
  • CRM
  • Eloqua
  • Accounting database
  • Purchase system
  • Reporting
82
Q

What is critical to do after completing a system audit?

A

Document your finding.

83
Q

What are four key areas of change management?

A

Stakeholder Vision
Imperatives for change
Communication and Training
Capacity for change

84
Q

What are four questions asked during change Management?

A
  • What is going to happen to me?
  • Who decided?
  • How did we decide to make this change?
  • What was wrong with the old way?
85
Q

What are the method for change management?

A 
Regular communication
Access to the defined process flow diagram
On demand Training
Live Q&A sessions
Execution Checklists
Feedback loops
86
Q

Define Lead scoring

A

The predictive ranking of one inbound response v. another

An automated scoring program is objective

87
Q

What are the two components in Eloqua’s Lead scoring program?

A

A letter - A-D which represents the lead profile

A number - 1-4 which represents their level of engagement

88
Q

T or F: In lead score, the profile score looks at information on the contact record, such as region, job role and industry.

A

True.

Profile looks at business card style information.
Engagement looks at activity and recency of that activity.

89
Q

Is lead scoring a one-time action or a continuous process?

A

Continuous.
Lead Scoring is meant to show the potential worth of a lead at a point in time, but the process of lead scoring is continuous.

90
Q

List the 5 Steps for building a lead scoring model.

A
  1. Choose your stakeholders.
  2. Define profile score.
  3. Define Engagement Score.
  4. Map Score.
  5. Build it.
91
Q

What is the limit for the number of response value per category?

A

No limit.

You can have as many values as you wan but they must be split into no more than three tiers per category.

92
Q

What is best practice for number of Lead Scoring Categories and why?

A

No more than five because more you have have the harder it is to get an accurate score.

93
Q

What are three thing to beware of when establishing your profile criteria?

A
  • Too Many Scoring Categories
  • Scoring on Open- Text Fields
  • Scoring BANT Questions from a form
94
Q

What are the two most important dimensions to the engagement score?

A
  • Recency

- Frequency

95
Q

List Integrated Tactics available for Channel Variety.

A
  • Email
  • 3rd Party site
  • Twitter
  • phone call
  • Facebook
96
Q

Define Campaign Activity.

A

Any inbound activity on a campaign sucha as a Clickthrough.

97
Q

Define Campaign Response.

A

A Particular activity on a campaign that is designed as showing official interest in that campaign. EX. Form Submit

98
Q

Define a Campaign Hand Raise.

A

Combination of activites and/or response across multiple campaigns that are particularly relevant in demand conversation. EX. 2 forms submissions; visit high value web page, 3 click throughs.

99
Q

In lead scoring, how much should your Response Weights add up to?

A

100.

The 100 is then to break down the weight to ranges of 1, 2,3,4.

100
Q

In lead scoring, what is a threshold?

A

Threshold means certain scores are eligible to be passed to Sales and other are held back inside Eloqua until they are Sales- Ready.

101
Q

Once Lead scoring is mapped, what are the steps to pilot it?

A

Step 1 - Integrated with CRM
Step 2 - Pilot with Sales Stakeholders
Step 3 - Sales training

102
Q

For lead scoring when is the best time to coordinate the pilot and launch times?

A

At the beginning at the fiscal Quarter to ensure full attention of sales

103
Q

What are the key tips to build a lead scoring model?

A
  • Involve marketing and sales
  • Use personas to define scoring criteria
  • Start with a maximum of 5 categories / 3 tiers
  • Multiple score can have the same follow-up action
  • Be mindful of the sales cycle
  • Keep it simple
104
Q

What are the five steps of the RPM model?

A
  • Montion Data completeness and benchmark Marketing and Sales effectiveness
  • Build Lead Scoring Model
  • Review metrics and Sales Feedback
  • Optimize lead scoring model/process
105
Q

How often should a lead scoring model be optimized and audited?

A

Every 3 -6 months

106
Q

What report should be used to monitor data completeness?

A

Contact Field Completeness report

107
Q

How does one measure if the impact of scoring is a success?

A
  • Sales acceptance rate should increase.
  • Average number of sales cycle days should decrease.
  • The Average revenue per deal should increase.
108
Q

When should you make change to your lead scoring?

A
  • After the 3-6 month audit
  • New Product launch
  • Changes to go-to-market plan
  • Reorganization
  • Complaints for Sales
  • Reporting
109
Q

What are the Revenue Performance Indicators (RPI)?

A
  • Reach
  • Conversion
  • Velocity
  • Value
  • Return
110
Q

Define RPI: Reach.

A

Total Database Size minus (Unsubscribes and Hard Bouncebacks)

  • Number of Marketable Contacts
111
Q

For RPI: Reach, What trend do you want to see?

A

Trending up over time.

112
Q

What are categories of RPI: Reach?

A
  • Reach by Active Contacts
  • Reach by Inactive Contacts
  • Reach by Segment
  • Reach by Lead Score
  • Reach by Communication Channel
113
Q

For RPI, what trend should occur for Reach by Inactive Contacts?

A

Decrease.

114
Q

For RPI, what trend should occur for Reach by lead score of A1?

A

Increase.

115
Q

For RPI, what trend should occur for Reach by Key Segment such as vertical?

A

Increase.

116
Q

For RPI conversation, what is the average 5 of leads that who will eventually purchase?

A

5%

117
Q

Define RPI: Conversion.

A

Conversion shows the percent of leads who will eventually purchase or move from one sales stage to another.

118
Q

List different RPI: Conversion dimensions.

A
  • Conversion by Lead Stage
  • Conversion by Segment and/or Audience
  • Conversion by Referral Source
  • Conversion by Channel
  • Conversion by Content and Messaging
  • Conversion by Type of Offer
119
Q

Quiz: Your Overall conversation rate is 7 %. When the rate is broken down by Offer Type, the following conversion rate are:

  • Webinar : 8%
  • White paper : 10%
  • Trial or Demo : 8%
  • Sweepstakes : 2%

Which offer should be revised or omitted?

A

The offer type of Sweepstakes due to the 2% conversion rate.

120
Q

What must happen to a lead if there is no movement in a stage?

A

Leads must expire from the stage.

121
Q

What is best way to calculate conversion by funnel stage?

A

1 - Set an lead expiring timeframe move them from a stage if the lead has no movement.

2 - Calculate Total Conversion based on Active Contacts (new and existing)

122
Q

Define RPI: Velocity.

A

Velocity is how fast prospects are moving through the funnel. EX. How a lead move from one stage to another; become a closed/ won deal; etc.

123
Q

Define RPI: Value.

A

Value give visibility into the potential revenue in the current Marketing Pipeline.

124
Q

How is RPI: Value calculated?

A
  • By stage, calculate the number of individuals in a stage multiplied by the probability to close.
  • Add all stage calculations together
125
Q

What are some dimensions for RPI: Value?

A
  • Value by region
  • Value by product
  • Value by segment
126
Q

What are some pitfall that make it difficult to tie marketing effort to revenue?

A
  • Some Sales models are harder than others to retrieve data
  • Lack of alignment between Marketing and Sales.
  • Lack of open communication
  • Campaign that have no cost attributed
  • Systems are set up incorrectly and cannot speak to each other about revenue
127
Q

Calculate RPI: Return.

A

Return takes the total attributed revenue divided but total campaign cost.

128
Q

Define RPI: Return.

A

Defines the revenue that you can expect to earn for the every dollar spent in closing the deal.

129
Q

What are some sources that should be calculated for RPI: Return?

A 
Channel Sales
Direct Sales
Inbound calls
Lead Gen Campaigns
Database marketing
130
Q

When is ROI impossible to calculate?

A

When Campaign Cost is $0.

131
Q

What must be in place to see ROI?

A

Closed - Loop Reporting

132
Q

List Closed Loop reporting metrics.

A

Number of Opportunities Attributed
Revenue Attributed to Campaigns
Revenue Influenced by Campaigns

133
Q

Define Sourced ROI.

A

Sourced ROI is short term ROI that explains direct cause and effect. It is best employed as a way to identify when marketing investments that under-performance should be redirected to marketing investments that are better performing.

134
Q

Define Influenced ROI.

A

Influenced ROI is a long-term ROI that explains cumulative influence over time. It can be used to deter other less tangible aspects of marketing effectiveness.

135
Q

List traditional ROI / cost metrics.

A
  • Cost Per Name
  • Cost Per Qualified Lead
  • Cost Per Opportunity
  • Cost Per Win
  • Cost Per Closed $
136
Q

Why is it important about where and how an opportunity is created in the CRM?

A

Opportunities created at the account level can not be attributed to back to individual marketing efforts.

137
Q

If the cost per Opportunity for campaign A was running higher than average, what would be the best next step?

A

Develop a hypothesis, test and optimize.

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