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#005: Avoid measuring marketing like this

Hello you wonderful people!

Something I’m regularly asked by both marketing leaders and business owners is: 

How should I measure the performance of my marketing?

So Kevin and I need to tackle this question over the next few weeks. We start by looking at what not to measure. Check out the first article we share down below.

Next week on The B2B Playbook podcast, we’re sharing our 3 Tier Reporting system to show that marketing is actively contributing revenue to the business.

Subscribe here on your favourite platform so you don’t miss it.

This week we’re looking at how you can drive more revenue with email marketing, partnerships, A/B testing and more. 

You should be able to read today’s issue in 5 minutes or less.

If you don’t want this newsletter, you can unsubscribe

💡 3 B2B Strategy Tips

1) Your emails should serve 2 purposes: The first is product education and customer success. Hubspot do this incredibly well, with each email teaching you how to get the most out of their platform. It helps freemium customers see the value in their paid tiers, and their paying customer get maximum value out of their platform subscription. 

The second is educating, nurturing and building community. This is using email to ‘be helpful’, and make people feel like they belong to a tribe. Kev and I show you on Episode 71 of The B2B Playbook podcast:

– how to apply each of these 2 types of emails to your business
– tips for each of the styles
– how to measure the performance of each
– how to optimise and get better at each of them

Check out Episode 71 – The 2 Types of Email Marketing You Need To Do, And How To Optimise Them

2) Start working with partners and affiliates: People need to trust you before they buy from you. Leveraging partnerships with complementary businesses and enabling affiliates to sell for you is kinda like a shortcut to getting that trust. That’s because if a partner or affiliate recommends you to their audience/friends, that trust is transferred to you.

That buys you time while your inbound and outbound engines are still gearing up. Plus if you do it right, it’s like having a whole army of sales people advocating for your brand that aren’t on your payroll!

Kevin and I show you step-by-step how to identify and implement partnership and affiliate programs on Episode 69 of The B2B Playbook podcast

3) Be careful what you A/B test: Marketers will tell you to “always be testing”. But too often marketers in the B2B world are testing changes that are too small to make a real impact. B2B companies just don’t collect the data that many B2C ones do, so split testing the difference between your CTA being “get a free demo” and “request a demo” may not  give you the uplift you’re looking for. 

We give you a framework for CRO, A/B testing and MVT, as well as some ideas from where to start testing and how to run your tests. Check out Episode 68 – Improve Your Content & Creative With CRO & A/B Testing on The B2B Playbook podcast.

✏️ Doodle of the Week

If you’re an earlier stage B2B company, don’t spend 100% of your budget on people who are ‘ready to buy’ right now. You need to start dedicating at least 20% of your budget creating demand, building affinity with those who will buy from you in the future. If you don’t, you will run out of people who are ready to buy from you. And trust me – that’s a bad situation.

📖 3 Articles and Resources

1) Why marketing sourced pipeline should NOT be a KPI:: Measuring marketing based on the marketing sourced pipeline they bring in can lead to bad practices that don’t drive revenue. We show you what to avoid and what to measure instead.

2) Level up and leverage CRMs, CDPs and Data: As your business and marketing scales, you’ll need to upgrade your data platforms, tools and systems to keep up with that scale. We guide you through the jargon and help you decide what you need, and what is just a distraction in Episode 70.

3) A positioning masterclass: I’ve read a fair amount on product positioning, but I just finished reading April Dunford’s ‘Obviously Awesome’, and highly recommend it to any marketing leader who wants to more deeply understand positioning your product. There’s a great framework you can apply to your own business, and it’s a really easy read. Give it a go!

Thanks for reading!

P.S. Don’t forget to subscribe to The B2B Playbook podcast

Strategy, Templates & Tools To Drive More Revenue With Marketing

Our 5 BEs Framework teaches b2b marketers exactly how to drive more revenue with your marketing.

We share our Framework step-by-step every week on The B2B Playbook.

There’s 3 ways you can learn and implement it in your own business:

  1. Listen to The B2B Playbook Podcast
  2. Subscribe to our Newsletter
  3. Apply for The B2B Incubator

(P.S. The B2B Incubator gives you strategy, templates and tools you need to implement this in your business over 12 weeks. Click here to find out more or apply now).

I'm George, and I'm an embarrassingly passionate B2B marketer.

But it wasn't always that way. When I first got into B2B marketing, I actually found it so confusing. There was conflicting advice - and I kept pursuing the promise of "the one thing" that would work - with varying success.

With my own agency and working in-house, I tested different strategies and tactics to see:
(a) which ones could be done by a small marketing team
(b) which ones actually resulted in REVENUE for the business

We then turned the stuff that works into one cohesive strategy that I follow when I consult with B2B clients.

It's called our 5 BEs Framework.

And now we're dedicated to sharing it, right here, on The B2B Playbook.

We're giving away our 5 BEs Framework step-by-step, and creating the resource I wish I had when I first fell in love with B2B marketing.

When I say step-by-step - I mean it! Start the podcast at Episode 1, and work your way through.

If that sounds like too much, we give you the strategy, templates & tools in our 12 week program - The B2B Incubator.

Check it out here:

I'm also extremely active and share much of our framework on LinkedIn - so please feel free to connect with me there and say hi!

Further reading