Marketers struggle to measure the efficacy of marketing tools to validate marketing qualified leads, which they need to focus on aligning metrics to revenue. Today, they are focused on tracking marketing qualified leads (MQLs), which is a challenge.
Firms are still looking at the marketing KPIs – usually MQLs – to judge the performance of marketers, instead of how the marketing efforts directly lead to revenue. Instead of focusing on aligning marketing and sales, firms need to focus on aligning the marketing metrics to revenue. This will make marketers more vital to a business.
If firms truly want to align their marketing team to revenue, they should focus on ROI. Revamping or moving away from MQLs is not a simple solution. Marketing leaders need to start from scratch to truly understand what metrics align with ROI and revenue to develop a new set of KPIs to measure our team’s work. All of this will take time, resources, and patience. But it will also be worth it.