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With 2024 now underway, marketing ops leaders need to ensure they are tracking the metrics that will define success for their department this year.
Having clear visibility into key performance indicators enables more agile decision-making, optimal budget allocation, and alignment with sales teams.
This article highlights ten marketing operations KPIs managers should prioritize over the next 12 months.
1. Lead response time - The average amount of time it takes sales to respond to and engage with a new lead. Calculated as total time from lead creation to first meaningful sales contact divided by number of leads. Shows sales follow-up efficiency.
2. Time to qualify leads - Measures how long on average it takes marketing to gather enough info from a lead to determine their potential and FIT score. Calculated as total days from lead creation to qualification date divided by total leads qualified. Faster is better.
3. Lead conversion rate - The percentage of all marketing generated leads that get converted into new sales opportunities over a period. Calculated as number of opportunities created divided by total number of leads in time period.
4. Sales acceptance rate - Percentage of marketing qualified leads that sales commit to working and accept as opportunities from total leads passed on to them. Calculated as leads accepted by sales divided by total leads passed to sales.
5. Marketing originated pipeline contribution - Amount or percentage of total sales pipeline that can be attributed back to marketing activities and leads. Calculated via closed loop reporting or multi-touch attribution models. Helps determine marketing ROI.
6. Content Attribution Rate - The % of opps influenced by marketing content. This data should be collected via analytics or verbally over sales calls. It is calculated by dividing the number of influenced opportunities by the total number of opportunities across a time period. This not only shows the downstream impact of content as a demand generation driver, but it can also be used to inform outbound sales reps, so they can use effective content to drive conversations and build relationships.
7. Opportunity win rate - Percent of sales opportunities eventually won/closed out of total open pipeline opps. Calculated as # opps won divided by total # of all closed opportunities within a given period.
8. Channel ROI - Revenue generated from a marketing channel or program divided by the total $ investment into it. Compares $ in vs $ out for different lead generation channels to ID most efficient ones.
9. Customer acquisition cost - Total sales and marketing costs divided by number of new customers/accounts acquired in time period. Lower CAC possible through more efficient spend & operations.
10. Lifetime value realization - Actual customer lifetime value achieved on average compared to original company LTV benchmarks. Higher is better.
The above KPIs provide actionable insights for optimizing your marketing and sales teams' efficiency and accelerating pipeline velocity.
Meet with your marketing operations leads, find out which of these KPIs are not being tracked regularly, and decide on the best way to start tracking them and making them available to relevant stakeholders.
