22 Nov Failure is a B2B Marketer’s Learning Tool
If you want to get real about how well your marketing campaigns are working, you need distilled reporting that sales, marketing, and the C-suite crowd can all digest. When done well, a B2B marketing report should tell you what to improve, what to invest in, and what not to do again. That last point is essential, according to Michelle Tresemer, founder of TGroup Marketing Method, for you must know what campaign failed and why in order to plan out a more lucrative marketing future.
Tresemer, affectionately known as her company’s digital stunt brain, is gaining recognition as an expert who can be counted on to deliver practical, no-bullshit advice. Evidence to that point is the growing number of industry blog articles that count on her input. Databox’s Maham S. Chappal’s November 17, 2020 piece, “18 Essential Things Every B2B Marketing Report Should Include,” is a comprehensive guide to B2B marketing reports, which draws from key marketing influencers, including Tresemer. And she does not disappoint.
Learn from Your Digital Marketing Mistakes
One of the critical things to include in a marketing report, according to Tresemer, is what failed. “As odd as it sounds, I like to include at least one fail. As in, which campaign did not do well that we should not do again. Knowing what doesn’t work is often more valuable than figuring out what DOES.” She goes on to say that not making the same mistake over and over again “frees up precious resources for tactics that do drive leads.”
TGroup Marketing Method does that by utilizing Google Analytics. Tresemer says, “…we use UTM parameters to track all of our campaigns. Then it’s simply a matter of looking at the campaign metrics to see what worked and what didn’t.”
Know What Your Customers Cost You
Another key feature of a good B2B marketing report is customer acquisition costs. “One important metric that you must include in a high-level B2B marketing report is the marketing costs for new customer acquisition,” says Avinash Chandra, CEO of BrandLoom Consulting. Since marketing to new customers costs more than marketing to your existing customers, it’s essential to know if your costs and ROI expectations are in sync. If they’re out of whack, it’s time to initiate some changes.
Be Brave When Constructing Your B2B Marketing Reports
Catriona Jasica of Top Vouchers Code states what we’ve all felt: “A B2B marketing report gives marketers headaches and heartburns.” As you contemplate what to include in yours, include good, neutral, and bad news, for all of it adds up to understanding what future strategic and tactical adjustments you need to make.
The bottom line, according to Juli Durante of Impulse Creative, is to measure and report “your progress and contribution toward the company’s goal.” In other words, create a report that tells the damn truth about what needs improvement, which campaigns merit further investment and which ones don’t, and what platforms are working for you. Those truths are the only way forward.
Read “18 Essential Things Every B2B Marketing Report Should Include” for many more expert tips at.