Most modern businesses now rely on Digital Marketing Tools to market their products, automate the implementation of their marketing strategies and measure the performance of their efforts using marketing reports.
One of the most well-known Marketing Tools is Marketo. Marketo offers various features such as Marketing Automation, Email Marketing, Revenue Attribution, and Lead Management. This article will help you understand what Lead Management is, how Marketo works along with how you can easily perform an analysis of your leads using Lead Performace Reporting Marketo.
Table of Contents
Introduction to Marketo
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Marketo is a marketing automation and Lead Management SaaS product whose aim is to help businesses channelize their marketing needs. It provides services including Email Marketing, Lead Management, Consumer Marketing, Mobile Marketing, and Customer Base Marketing.
Marketo covers a wide range of marketing channels and makes sure the whole process of Lead Management is flawless. The digital channels include email, video, websites, mobile devices, and search engine advertisements for both B2B & B2C purposes. This product makes sure that it helps businesses solve their hindrances in the way of marketing themselves & closing the leads through automated marketing campaigns and very smart (AI-based) audience targeting. This platform is built on Google Cloud and integrates several Google services.
Some of the key features of the platform include:
- Campaign Analysis
- CRM Integration
- Social Media Marketing
- Digital Advertisements
- Lead Tracking
- Search Engine Optimization (SEO)
- Website Personalization
Marketo is a data-driven platform. It does best by capturing different data points including:
- Customer’s Behavior
- Customer’s Engagement with Website
- Point of Interest on Website by Potential Customers
- Time Spent on Website
- The Date on which the Website was Visited
- Customer’s Name, Email, Address, Phone, etc.
All of the information is stored in Marketo’s database from where it can be fetched for further analysis.
Introduction to Lead Management
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Lead Management is one of the most critical processes in Sales closure & is the need of every business despite its status. At the end of the day, it is all about whether the business was able to close the potential leads or not. Therefore, having a system in place to manage the leads is very important. In Simple Words, Lead Management is a process by which the potential customers are captured by marketing & then forwarded to the Sales Team to convert those potential clients into paying customers on which the businesses thrive. Therefore, it is important to have a flawless Lead Management mechanism in place.
Unfortunately, the process of Lead Management is not that simple to maintain & get the desirable results. It’s always very tricky for almost every business. The reason is usually the quality of potential leads. As per Gleanster Research, around only 25% of leads are actually very good legitimate prospects. Hence, it is important for the Sales Team to spend time & effort on filtering legitimate leads.
Problems Solved by Lead Management
The various problems that are solved by Lead Management are as follows:
- Capturing Leads Searching for your Company: With the availability of the right Marketing Automation Tools in place, relevant data can be captured from websites which can be seen as the most important Data Capturing Tool.
- Handling Leads that aren’t Converting to Sales: It is very important to understand the Sales Funnel i.e Awareness, Consideration & Conversion. Lead Management can help is optimizing this funnel & in the end optimizing the sales.
- Maintaining the Quality of Leads: Lead Prioritization is very important as not all leads are of the same quality or importance. Therefore it is important to classify the important leads from the non-important ones. Leads Management can make this process faster and help in bringing valuable leads.
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Marketo as a Lead Management Tool
Marketo is one of the best Lead Management Tools available in the market. It benefits its users in the following ways:
1) Improved Lead Quality
Marketo helps in improving lead quality as it helps classifying quality potential buyers before the data is passed on to the Sales Team. For more details, have a look at the official documentation.
2) Leads Closure
Marketo helps in more number of leads getting closed. Also, it can get integrated with some of the most well-known Sales Management Tools such as Salesforce & hence providing an ideal environment for the closure of the whole lead conversion process. For more details, have a look at the official documentation.
3) Comprehensive Analytics
Analytics and Tracking of data is one of the most important things in today’s data-driven world. Fortunately, Marketo provides detailed reporting along with user-friendly interfaces & dashboards. It removes the ambiguity in data and shows correct and actual figures with all the relevant data points. For more details, have a look at the official documentation.
Creating a Lead Performance Report in Marketo
Creating a Lead Performance Report in Marketo is a fairly simple process. The steps for the same are as follows:
1) Lead Performance Report Marketo Step 1: Open Marketing Activities
On the Marketo Home Page, select “Marketing Activities.”
Image Source: https://docs.marketo.com/
2) Lead Performance Report Marketo Step 2: Select Required Program and Report Type
- Upon selection of Marketing Activities, you will get a list of programs from which you can make a choice based on your requirements.
Image Source: https://docs.marketo.com/
- Right-click on the program and select “New Local Asset.”
Image Source: https://docs.marketo.com/
Image Source: https://docs.marketo.com/
- Select the Report Type as “People Performance”
Image Source: https://docs.marketo.com/
- Give your report a unique name so that it can be easily identified.
Image Source: https://docs.marketo.com/
- The time frame of your report can be adjusted as per requirements. Instructions on changing a time frame can be found here.
3) Lead Performance Report Marketo Step 3: View Statistics
Your People Performance Statistics can be viewed by clicking on the “Report” tab.
Image Source: https://docs.marketo.com/
4) Lead Performance Report Marketo Step 4: Create Engagement Stream Performance Report
- Repeat the first two steps. Go to “My Nurture Program” and then “New Local Asset” in the “New” tab.
Image Source: https://docs.marketo.com/
Image Source: https://docs.marketo.com/
- Select “Engagement Stream Performance” as the Report Type.
Image Source: https://docs.marketo.com/
- Give your report a unique name and click “Create.”
Image Source: https://docs.marketo.com/
5) Lead Performance Report Marketo Step 5: Configure Filters
- Find and select the Engagement Stream Performance Report that was created in the last step.
Image Source: https://docs.marketo.com/
- In the “Setup” tab, double-click the “Engagement Program Email” filter.
Image Source: https://docs.marketo.com/
- Pick out the email(s) you want to report on and click “Apply.”
Image Source: https://docs.marketo.com/
- Finally, the report can be viewed by clicking on the “Report” tab.
Image Source: https://docs.marketo.com/
Conclusion
This article helped you understand how you can perform an analysis of your leads using Lead Performance Report Marketo. Overall, Marketo is a very extensive end-to-end marketing solution that helps in managing leads in the best possible way. Businesses today however use multiple channels for Digital Marketing and Reporting. This results in a complex situation since data is spread across multiple platforms which means that a common analysis cannot be performed. To deal with this situation, businesses can use data integration platforms like Hevo.
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