When you think of a highly effective marketing team, what’s the first thing that comes to mind?
Creativity. Storytelling. Snazzy branding. Outside-the-box thinking. Ingenious SEM. Optimized SEO. Psychology and persuasion. Imagination. In lock-step with sales.
All of these things are true—and they’re all foundational to a best-in-class marketing squad. But beyond that (and perhaps even more important) is a marketing team’s ability to set measurable goals and work towards them together. Goal-oriented marketers are 376% more likely to achieve success—but it’s not just about having goals, it’s about committing to the right ones.
Getting super-intentional about what goals can *best* set your team up for success can make a huge difference for morale, engagement, and outcomes. Especially on remote and hybrid teams, metrics keep teammates aligned and create a north star to work towards. In this article, we’ll break down examples of marketing objectives used by highly effective teams. Let’s dive in.
Having numbers to hit helps us drive outcomes, rally the team, and show impact to stakeholders. Measurable marketing objectives keep us aligned and give us a north star to work towards, especially when we’re remote or hybrid. They help inform a successful marketing strategy that everyone can work towards together. But not all marketing objectives are created equal.
In the next section, we’ll go over some marketing objective examples. We’ll break down how they’re important for marketing teams and give you some ideas of how you might put them to action too.
Tip: Cross-team alignment = key
Your marketing plans shouldn’t exist in a vacuum. To make sure the marketing metrics you’re tracking towards have real impact, you’ll want to ensure they align clearly with broader business goals and sales objectives too.
Here are some marketing objectives examples to get your team started.
Customer acquisition cost is a common marketing objective that looks at the total sales and marketing spend required to gain a new customer for your business. This includes everything from marketing department salaries and general overhead to the technology your team uses, advertising expenses, and more. To calculate customer acquisition cost, first decide on a time frame to measure (year, quarter, or month). Then, divide the cost of your marketing and sales efforts by the number of customers those efforts acquired during that time period.
Customer acquisition cost = Cost of marketing + sales efforts / Total customers acquired
The marketing-originated customer ratio shows what percentage of your new business is driven or influenced by marketing. To calculate it, take all of your business’s new customers over a given time period and look at what percentage of customers started out as a lead generated by marketing.
Marketing-originated customers ratio = Customers who started as a marketing lead / Total customers acquired
Similar to marketing-originated customers, your marketing-influenced customers also include any new business that marketing played a role in nurturing through the funnel. For instance, if Sales prospected their own lead and then that lead attended a marketing webinar before becoming a customer, that customer was influenced by marketing. Your marketing-influenced percentage will include every customer from your marketing-originated group as well.
Marketing-originated customer ratio = (Customers who started as a marketing lead + customers nurtured by marketing) / Total customers acquired
Marketing revenue attribution allows you to see how effective your marketing efforts are and attribute a specific dollar amount to those efforts. It helps ensure that, as a team, you’re making the right marketing investments. You can look at marketing efforts overall or dig deeper into specific campaigns or parts of your marketing strategy to explore what has the greatest return on investment. For instance, how do content marketing efforts increase sales in comparison with paid advertising?
Some common models for tracking marketing revenue attribution include:
Some visitors who land on your website or marketing content have greater intent to buy than others. We call those users marketing qualified leads—or MQLs. MQLs are a critical part of any sales funnel. They’re better prospects to send to your Sales colleagues and help keep pipelines flowing in a way that’s a valuable use of the sales team’s time.
Tracking MQLs can give you a lot of powerful insights about your marketing initiatives and funnel, too. It can tell you where a lead is at in their buyer journey and help you understand what they might need to move through the funnel. MQLs can also illustrate the ROI of different marketing efforts—in general, the more MQLs, the higher the ROI.
How you measure MQLs will depend on your business and should evolve over time. Your company’s analytics, user personas, and conversations with Sales can help inform your definition of an MQL. Some examples of an action someone might take that indicates greater intent (and thus, MQL-ness) include: signing up for a free trial, requesting a demo, or downloading a pricing breakdown.
Cost per lead measures the dollar amount of each new lead by marketing campaign, channel, or overall spending. It can help your team track ROI, understand the performance of your different channels and digital marketing efforts, and allocate marketing budgets more effectively.
To measure CPL, first define a time frame. Then, divide the amount of money you spent on a particular channel, campaign, or marketing initiative by the number of new leads it acquired.
Cost per lead = $ spent on marketing efforts / # of new leads acquired
Of the people who visit your website or interact with your marketing efforts, how many actually have intent and interest in moving through the conversion funnel? This is your traffic to lead ratio. It’s an easily measurable objective that can help you understand if your marketing efforts are attracting the right prospective customers in the first place. For instance, a low traffic to lead ratio might mean you need to focus on content strategy efforts that speak to your target audience or adjust your paid marketing strategy to bring in stronger prospects.
You can look at your overall traffic to lead ratio, or dig in to explore it for specific marketing campaigns or channels.
To calculate traffic-to-lead ratio, divide your total number of visitors to your website, campaign, or marketing channel by the number of qualified leads it generated.
Traffic-to-lead ratio = # of visitors / # of qualified leads
Once your team hands off its MQLs to sales, it’s up to your colleagues on that team to determine if they’ll become sales qualified leads—or SQLs. Not every MQL will become an SQL. Tracking the ratio between the two can help you understand the health of your pipeline and know whether you need to adjust the way your team qualifies leads.
To calculate the MQL-to-SQL ratio, simply divide the number of SQLs by the number of MQLs.
MQL-to-SQL ratio = # of SQLs / # of MQLs
Your lead-to-customer ratio measures how many qualified leads actually turn into paying customers. This measurable objective is important for a few reasons:
To calculate lead-to-customer conversions, just divide your total number of leads by the number of new customers during a given time period.
Lead-to-customer ratio = # of leads / # of new customers
Customer lifetime value is the total amount that one customer is projected to spend on your business. It’s typically based on your pricing model, potential up-sells, and forecasting data, and is a great way to identify current customers or user segments that are most valuable. You can also use CLV to identify opportunities to up-sell or educate your current customer base, and where you might focus on customer retention objectives. To calculate CLV, you’ll need a few different inputs:
Customer lifetime value = Customer value X average customer lifespan
To calculate CLV for individual customers, follow this formula:
Customer lifetime value = Revenue made from that customer in a year ｘ the # of years they’ve been a customer — Cost of acquiring and serving them
Marketing teams are typically responsible for efforts across a variety of channels: in-person or virtual events, social media marketing, search engine optimization, email marketing, a blog team, content strategy, paid marketing (like ads), a customer loyalty program, PR and communication strategy, and more. You’ll want to track traffic across each of them to understand ROI, identify opportunities to improve conversion, and budget more effectively.
Traffic rate = # of visitors to a particular touchpoint
A conversion happens whenever a visitor, user, or customer takes a desired action that you lead them to take. There are a number of different ways someone can convert — it all depends on the business or service you offer and what stage of the marketing funnel you’re tracking. At the top of the funnel, a conversion might look like RSVPing for an event or clicking the CTA on a LinkedIn post. At the bottom of the funnel, a conversion could be signing up for a paid subscription or completing a purchase.
You can calculate customer conversion rate by dividing your total number of conversions by your total number of interactions.
Conversion rate = # of conversions / # of interactions
Whether you're reporting up to company leadership or sharing your impact with business partners (like the sales team, customer experience, or customer service), Range makes it easy to track all types of marketing objectives and share your progress towards them.
It starts with daily updates around your marketing goals and progress. Why daily? Keeping objectives top of mind every single day—not just at the end of the month or quarter—is a proven way to get more done, gain more alignment, and ultimately succeed in your marketing plans. It doesn’t have to be super heavy-handed either. Think: a 5-minute daily check-in each morning — faster than a standup, and arguably way more effective.
On teams where folks are spread across many different marketing activities and initiatives, daily goal tracking gives more visibility into in-flight work and how it ladders up to the bigger picture. When you track marketing objectives daily, it’s easy to see how work moves from point A to point B and managers can quickly step in and offer support if they need to. If something is off track, the team can spot it early on and adjust marketing plans accordingly.
Successful marketing strategy starts with daily goal tracking. It’s a powerful way to not only achieve your marketing goals and objectives—but crush them.Learn how to create, assign, and track all your goals seamlessly with Range