Often there is a gap between marketing and business people. It is not always easy to understand what it means to the business when marketing people are speaking about visitors, responses, clicks, add displays, and so on. Ultimately, we are here to run business, meaning to achieve turn over, margin and profit.
So, marketing, especially campaign and KPIs have to have a link to the business KPI. It is up to each business to develop its own KPIs and its monitoring.
Here are few guidelines and principles that will help you to define them:
- Define phases of your sales cycle starting from the campaign targets (prospects) over leads to closed deals.
- Define KPIs over conversion rates between subsequent marketing/sales phases.
- Marketing cost of one qualified lead and/or marketing cost of one closed deal are valuable\
inputs to determine whether a campaign had a positive or negative effect on the margin and profit.
Technically, your CRM has to keep data about all of the phases of your sales process (end to end). Especially, you have to make sure there is a link (tracking code) among all records (contacts, leads, opportunities, deals etc.) that will allow you to track which campaign generated which deals.