A few of us LyntonWeb team members recently attended the HubSpot User Group Conference in Boston. The breakout sessions focused on how to use the HubSpot platform for business growth through inbound marketing. A key component to success with inbound marketing is the measurement and optimization of program executions to keep your program costs lower than the revenue you generate through those programs.
Now if you're not collecting the right data, you're flying blind and potentially leaving money on the table! Closed loop reporting, which entails pulling in sales data to report marketing successes, is vital to business success. Simply put, if your marketing data isn't captured alongside your sales data and vice-versa, your reporting is incomplete.
This seems simple enough, but do you measure as part of your campaigns the revenue generated? Do your sales reports take into account the first, last or series of touchpoints? Even proven campaign strategies should be evaluated in this way. Be sure to consider your sales cycle - don't write off a campaign because you evaluated the success too soon.
So, you're eager to get started with closed loop reporting. Does your system allow you to pull this information in a way that is both efficient and accurate? A good web partner will help you identify holes in your analytics system. Need help? Give us a call.