B2B Predictions 2023: ROI of Marketing and CX
How do you prove marketing efficiency in 2023? Because of the complexity of B2B sales, this has never been an easy question to answer. And attributing deal success to just one or a few Marketing or CX activities is too simplistic an idea.
In this article, I will share predictions on this topic: How do you prove your ROI in Marketing? And CX?
80% of organisations that do not have a focus on customer experience with their brand will have to prove the need to put budget into CX, and what it delivers. And some of these organisations will disband CX teams that cannot show the right metrics. (Forrester)
ROI is a recurring topic in marketing. And there are many numbers available. So, how do you know which numbers to use?
Answers to the ROI question vary based on the actual question: Do you need to prove the contribution of marketing? Increase spending efficiency? Identify the most efficient campaigns? Whatever question you ask, you are likely to come up with different numbers.
With the rise of ABM, we see new types of KPI emerging. Namely, with account-based marketing and sales, we look at metrics on insights on stakeholders, buyer groups and influenced deals and deal sizes. Ideally, marketing looks at how they can contribute to efficient campaigns, meaningful interactions and customer engagement.
So, to prove the ROI of CX, what should you invest in?
Whether in marketing, sales or customer experience programmes, the key principles for better ROI are:
- Use the Voice of the Customer and transactional data to demonstrate how customer satisfaction drives more retention, growth, margins and recommendations.
- Evaluate your team and your method of rewards and make sure they are driving the desired customer-centric behaviour.
- Map your customer journey from start to finish and inside out to understand customer expectations and perceptions at each stage.
- And lastly, develop customer or buyer personas that support customer-centric decision-making.
Read our e-book on B2B Marketing Reflections & Predictions for 2023!
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