Itâ€™s abasic question most marketers ask themselves and I'm sure many struggle withthe right answerâ€¦How should we be measuring the effectiveness of our marketingcampaigns?
In addition to direct ROI, we also look at a pipe-to-spend ratio foreach campaign we run. This allows us to see for every marketing dollar we spend howmany dollars of pipeline are we generating in return. Using a basic calculatedfield, all of our marketing managers can easily see how their campaigns stackup against the rest.
You can setthis up as a calculated field directly on the campaign object, or just build itin to one of your standard performance reports. In this example, I have itbuilt in to the report. Start off with a campaign report, and select a summaryreport type. When you get to the second step â€œselect campaigns to totalâ€? scrollto the bottom and insert a new custom formula field. The formula should be the totalvalue of your opportunities divided by the actual cost of these programs.
The resultis a report like the one below that benchmarks all of your campaigns againsteach other.
Now your marketingmanagers can see which of their programs are effective (in real time!) andmanagement can make educated decisions based on hard data rather than gut feel.