The U.S. retail magnate, John Wannamaker, once said:
“Half my advertising spend is wasted. The trouble is, I don’t know which half.”
Marketing—like many other departments—suffers from the old-age problem of proving ROI. You worry that some of your marketing budget may be wasted, and you’d like to know where. But how? You’re concerned that the content you create isn’t used to its full potential. What messages resonate best? You wonder constantly if the collateral you generate is being seen by your counterparts in sales.
If these issues keep you tossing and turning all night, you're not alone. But there is a way to break free from the marketing ROI cycle. Continue reading to learn how you can better quantify your marketing using a simple content enablement solution.
1. Content Usage by Sellers
Sales reps ignore roughly 65% of content that their colleagues over in the marketing department create. Ouch. Either sellers can’t find it, they don’t know when to use it or the content is not helpful to certain stages of the buying journey. So sellers simply pass it by. Just remember, if your sales teams are ignoring your marketing content, then you are wasting your marketing budget.
If you want to improve your marketing ROI, start by measuring the sellers that consume your content, and the type of content that your sellers consume. The best sales platforms let you drill down by region, sales territory, and individual rep. They let you discover which content gets the most usage, which content assets are clearly the most useful in moving buyers along your pipeline, and which assets simply miss the mark.
Once you start quantifying your marketing ROI in this way, you gain the strategic and tactical insights you need to create sales content that your sellers want and need to drive sales.
2. Content Usage by Buyers
In the olden days, every piece of sales collateral you created had to be printed and put into the hands of a buyer. Then you hoped they read it. But that was never something you could measure. Measuring the ROI of a print brochure was impossible. If your buyers never read your marketing collateral, you never knew.
Fast forward to today, and print collateral was replaced with webpages, PDFs, and videos. But measuring the ROI on these digital assets has never been easy either—until now. Today, savvy marketers use their content enablement platforms to measure the ROI of every buyer-facing piece of content they create.
Today’s digital-first sellers can create digital sales rooms (DSRs) within an enablement platform that helps engage buyers through collaborative workspaces. These microsites provide a place for buyers to view videos, read marketing materials, and download marketing assets. All of this activity is tracked. Because your sales reps create each DSR for each buyer, its resources become a record of engagement over the lifecycle of each opportunity.
These microsites also let you do what you could never do before—measure buyer intent. You know every time a buyer clicks on a link, watches a video, and downloads an asset. You know when buyers use the chat feature in the virtual salesroom to engage with your reps. That knowledge lets you track the ROI of your buyer-facing content.
3. Channel Engagement
You likely derive a percentage of your revenue from products you sell through distributors, dealers, or outside sales reps. You know how much revenue these channel partners generate, but what about the ROI that you generate on your channel marketing activities? How do you measure that?
You measure channel partner marketing ROI with a content enablement platform. And we don’t mean a simple content hub. We mean a platform that delivers insights into dealer and buyer activity across territories and product lines. An effective platform helps you understand how your channel partners are engaging with your content and participating in your marketing programs.
Channel marketing or not, a content enablement platform provides timely, relevant guidance that improves performance. Even better, your inside sales reps and outside dealers and distributors get alerts when buyers engage with shared content. That increases their responsiveness to customers and their chances of generating a sale. And that drives higher performance for all sales initiatives—performance that you measure from within a simple platform.
Great. So What Should I Look for in a Content Enablement Platform?
Good question. Let’s break it down into an analogy about ice cream...because who doesn’t like ice cream? 🍦
Vanilla: The basic platforms help marketing teams distribute content, go-to-market programs, and education to prepare reps and channel partners to engage buyers in meaningful sales conversations.
Chocolate: The better sales and content platforms also include a buyer-engagement system that reps use to collaborate with buyers during the sales process. Sellers create customized digital salesrooms for each opportunity they are working on and use these interactive microsites to collaborate and engage with buyers.
Artisanal Chocolate Chip Cookie Dough: The best content enablement platforms go a step further and act as a revenue-generation engine that gets sales, marketing, and ops teams to align their efforts and collaborate to achieve sales and revenue goals. But they’re simple and intuitive, and feature easy-to-use and easy-to-adopt functionality.
Remember: If you want to measure the ROI of your marketing efforts, you must deploy a sales platform that delivers value-based analytics, you must use a platform that displays the data and provides the insights you need to measure the impact of your go-to-market programs, sales rep competency, and buyer engagement.
Ready to Start Measuring Marketing Performance?
When you increase both the percentage of your sellers that use your content and the percentage of the content that your sellers use, you increase pipeline velocity. You generate more deals, sooner. When you increase the percentage of buyers who engage with your content and with your sellers, you also move more buyers along your pipeline towards the line on the contract that is dotted. And when you empower your channel partners, they return the favor with more sales.
It’s clear—a content enablement platform is a win-win-win-win tool. Your buyers win. Your sellers win. Your channel partners win. You win. That’s a pretty good ROI in our book.
If you need help measuring your marketing ROI and moving it in the right direction, let’s talk. More than 120,000 sales and marketing professionals rely on Modus to generate measurable results.