Have any of you ever created an "Efficiency Metric" in your use of Marketo

[Dan_Stevens_]

Our CMO has asked for an "efficiency metric" - that takes into consideration some form of a "savings" metric to show overall effectiveness and agility.  I know, pretty abstract.  Have any of you created any sort of metric for your organization?  If so, loved to learn more about it and what factors were used to derive to that metric.

[Robb_Barrett]

We just put together a dashboard showing Marketing Influenced and Marketing Sourced opportunities to show the value Marketing has on the overall funnel.  Marketing Sourced = a lead generated by Marketing.  Marketing Influenced means a lead generated by sales but touched by Marketing.

[Dan_Stevens_]

Yeah, we do this today to populate our quarterly marketing scorecards.  Not really looking for marketing influenced/generated KPIs, but rather what has Marketo allowed us to realize vs. using alternate platforms - taking into consideration cost, efficiency, etc.  I know - this is a very abstract request.

[Casey_Grimes]

This is a bit of a strange request—is there some reason why the standard Campaign ROI, Cost Per Lead, Cost Per Customer, Customer Lifetime Value, etc. couldn't be used? Otherwise you're basically making an arbitrary metric. I've worked at companies in the past where there were spend reduction targets for marketing and we just did that with a minimum Campaign ROI threshold and internal reporting on differently-invested spend.

[Dan_Stevens_]

Currently we don't capture cost data in many of our programs - we try to, but often times it's not included.  And without that, those reports aren't really applicable.

[Josh_Hill13]

Other than overall ROI or CPA vs LTV calculations, you could do # of campaigns per person or per month vs. previous times. I look a bit at time to deploy when I can get that kind of data.

If you are using RCE well, then the biggest ones come from there:

• Velocity of marketing touched vs. not
• Avg Deal Size of marketing touched vs. not (this can be huge)
• CPA of marketing touched vs. not (or sourced)
• Sourced vs. Not sourced by marketing can be useful, but that's going to setup difficult conversations.

[Iryna_Zhuravel4]

It seems like this "efficiency" metric is not so much about the marketing influenced revenue and ROI (you probably report on that already), but overall operational efficiency. Love when C-level comes up with these wonderful ideas and metrics .

I had to report on the "efficiency improvements" some time ago, the key metrics I used was the implementation/turn around time, e.g. before we tokenized webinar programs it took 3 hours to prepare one webinar, now it takes 30 minutes, automating the process saved us 2.5 hours per task + lowered the number of errors. I didn't create one consolidated metric out of it, but presenting a few numbers on how much time we save through automation made execs pretty happy.

[Jessica_Kao3]

It is a bit hand waving but compare all the campaigns and programs that you are doing in an automated fashion, and calculate Full time employee man hours to replicate that in an alternate platform.  I think this is what you are getting at right?  To justify budget or keeping Marketo on as a tool etc.

Back of the envelope type calculation.  Or you can compare with if I had to manually do X that I can automate in Marketo how many hours would that be.  Is that kinda of what you are looking at?  I had to do this when I had to justify keeping Marketo and made a lot of assumptions.