#144: Strategy | Measuring The Effectiveness of Marketing and Predicting Revenue with Pranav Piyush
May 27, 2024
auto_awesome
Pranav Piyush, CEO of Paramark, discusses measuring marketing effectiveness, predicting revenue, and the correlation between reach metrics and output. They touch on the challenges of marketing attribution, importance of email audience engagement, and using technology to analyze metrics. The conversation also delves into experimenting in marketing, balancing creativity with measurement, and the CEO's role in marketing strategies.
Proper marketing measurement solutions are crucial for CMOs to confidently invest in diverse marketing types for maximum returns.
Strategic forecasting and experimentation, aligning marketing with revenue optimization, are vital for sustained growth in B2B SaaS marketing.
Deep dives
Improving Email Deliverability with Apollo.io
Using Apollo.io can significantly enhance your team's outbound email deliverability, leading to more meetings and increased pipeline success. Marketers utilizing Apollo have seen email deliverability rates surge from 62% to a remarkable 98%, resulting in higher reply rates and improved pipeline performance. By switching to Apollo.io, companies like Mutiny have experienced substantial gains, making it a valuable tool for boosting outbound and inbound interactions.
ParaMark's Focus on Marketing Measurement
ParaMark specializes in aiding CMOs with marketing measurement, experimentation, and forecasting, emphasizing the importance of supporting marketers in maximizing their impact. The company's goal is to elevate marketing's influence by providing software that facilitates efficient marketing analytics for fast-growing businesses. Founded on the principle of empowering marketers, ParaMark aims to address the underutilization and misconceptions surrounding marketing software, striving to revolutionize marketing potency.
The Journey to Starting ParaMark
The CEO of ParaMark shares a personal journey from a background in product management and growth roles to ultimately founding the company to address the substantial challenges marketers face. Having experienced the complexities and misunderstandings within marketing firsthand, the CEO aims to bridge the gap by delivering a software solution focused on marketing measurement for dynamic businesses. The journey underscores a shift from initial skepticism towards marketing to a deep appreciation for its intricacies and the need for supportive software tools.
The Significance of Marketing Forecasting and Experimentation
ParaMark advocates for a strategic approach to marketing forecasting and experimentation as pivotal elements for unlocking growth potential. The CEO stresses the importance of aligning marketing efforts with revenue optimization and leveraging statistical correlations to tailor effective marketing strategies. By forecasting future trajectories based on historical performance and conducting systematic experiments to test and refine approaches, companies can navigate towards sustained growth and success in the competitive B2B SaaS landscape.
Dave is joined by Pranav Piyush, CEO and Co-Founder of Paramark. With 15 years of growth and marketing experience at companies like PayPal, Dropbox, Adobe, and BILL, Pranav is convinced that CMOs deserve better measurement solutions. That’s why he started Paramark, a tool to help Marketing leaders become more confident about how to invest their budget for maximum returns across all types of marketing—brand and performance, online and offline, paid and owned.
They discuss things like
Why marketing attribution is hard
The essential elements of predicting marketing results
Which leading indicators to follow and how to tie them to revenue
Correlation between reach metrics (like community members and subscriptions) and output metrics
How to use and measure LinkedIn in B2B
Timestamps
(00:00) - - Intro to Pranav and Paramark
(05:03) - - Identifying Market Needs through Research
(10:09) - - Broken Measurement in Marketing
(15:05) - - Importance of Email Audience Engagement
(18:43) - - Audience Tracking
(19:27) - - Technology's role in analyzing marketing metrics
(26:52) - - Experimentation and Failure
(28:16) - - Marrying Ideas and Measurement in Marketing
(33:03) - - Connections for Startup Growth
(36:05) - - Executing Ideas in Marketing Leadership
*** This episode of the Exit Five podcast is brought to you by our friends at Revenue Hero. It’s 2024, your buyer has probably moved on to an alternative after a few minutes of not hearing from you, let alone 29 hours.
What those companies need is automated scheduling for qualified leads.
And that’s where RevenueHero comes in. Their platform is the fastest way for qualified leads to schedule a meeting with your sales team. Plus they have the most sophisticated matching algorithm so all your leads get booked with the right rep whether they are a new account or already a customer. Check them out at revenuehero.io/exitfive.
***
Thanks to my friends at hatch.fm for producing this episode and handling all of the Exit Five podcast production.
They give you unlimited podcast editing and strategy for your B2B podcast.
Get unlimited podcast editing and on-demand strategy for one low monthly cost. Just upload your episode, and they take care of the rest.