At our August First Friday event, we were fortunate to gain valuable insights from guest speakers Alli Reed, EMEA Senior Partner Marketing Manager at Ivanti; and Chriselna Welsh, Senior Field Marketing Manager META F5. These experienced marketers shed some light on the evolving nature of ROI measurement in the industry.
Embrace advanced metrics that reflect true value.
The days of relying on simple metrics like email open rates are long gone. Today’s marketing environment demands a focus on more complex metrics that truly reflect the impact of our efforts.
Chriselna shared, “Reflecting on my first marketing role, the expectation from an ROI perspective if we had sent out an e-mail was much less. If someone happened to open the e-mail, that was good enough. Box checked. But that has evolved at an accelerated pace over the past few years. We are now expected to show ROI from a commercial perspective.” Alli echoed this, sharing how she used to use physical feedback forms at events.
Metrics such as pipeline growth and opportunity acceleration provide a more comprehensive view of how marketing strategies contribute to business success. By adopting these advanced metrics, we can present a clearer and more nuanced understanding of ROI.
Navigate complexity. Own the outcome.
As the ecosystem of partner marketing expanded, so did the complexity. Multiple partners, each with their own goals and metrics, mean that managing these relationships and campaigns can feel like orchestrating a symphony. The indirect nature of partner engagements means that traditional direct metrics may not fully capture the full value of our efforts – which can be heroic at times.
Alli says, “If you look at the differences between a GSI go to market strategy vs a distributor go to market strategy, the sales cycles and customer engagements are very different. I would say that, whilst the tactics are the same, the way they use these tactics are different. GSI’s focus on highly personalised and highly targeted tactics, whilst the distributors are focused on volume and ‘content in a box’.”
To address this complexity and differences in tactics, it’s essential to adopt a holistic approach. Integrating diverse data sources and evaluating the collective impact of various marketing activities can offer a more accurate assessment of ROI. This approach also goes a long way to help in creating much-needed understanding of how different elements of our marketing strategy work together to drive business outcomes.
Manage ROI pressures. And expectations.
The pressure to demonstrate clear ROI is unprecedented – and intense. “Everyone is under immense pressure to collaborate and work together to, you know, achieve the same goal as an ecosystem.” adds Chriselna.
This heightened scrutiny requires effective management of expectations and accurate reporting. Setting realistic goals and maintaining transparent communication with stakeholders is crucial. But by being clear about what can be achieved and responsive to feedback, we can effectively manage these pressures and enhance the credibility of our ROI claims.
Leverage data for precision
In today’s data-driven landscape, leveraging data effectively is vital for refining marketing strategies and improving ROI. Many marketers face challenges in utilising data to drive decision-making. Focusing on the collection and analysis of relevant data allows us to gain valuable insights into successful tactics. By continuously optimising our strategies based on these insights, we ensure that our marketing efforts align with business objectives and deliver meaningful results.
Innovate – within constraints
Constraints such as limited budgets and resources are an all-too-common obstacle in partner marketing. As frustrating as these may be, they can offer opportunities for innovation. Alli shared a very important message, “the key thing about innovating is to fail fast, learn faster.” Effective strategies often emerge from creative solutions developed within these limitations. Collaborating with partners and exploring innovative approaches can lead to impactful results even when resources are constrained. By embracing these challenges as opportunities for creative problem-solving, we can achieve the significant outcomes we want for our business.
As we navigate the evolving landscape of partner marketing, it’s clear that the way we measure and maximise ROI has transformed. By embracing complexity, leveraging data, and finding creativity within constraints, we can not only meet the challenges of today but also set the stage for future success.
Let’s continue to push boundaries, collaborate closely with our partners, and approach each opportunity with fresh thinking. Together, we’re not just adapting to change—we’re driving it, and the results will speak for themselves!