What is New Bookings per Marketing FTE?
MOB per Marketing FTE, also known as Marketing Originated Bookings per Marketing Full-Time Equivalent, is a key marketing productivity metric that calculates the value of bookings generated by the marketing team per full-time equivalent (FTE) employee in the marketing department. It assesses the efficiency and productivity of marketing personnel in driving bookings and revenue for the business.
Why is it important to monitor New Bookings per Marketing FTE?
Monitoring MOB per Marketing FTE is essential for businesses to evaluate the productivity and contribution of the marketing team to revenue generation. This metric provides insights into the effectiveness of the marketing department’s efforts in driving bookings and allows companies to assess whether their marketing personnel are efficiently utilizing their resources.
How do you calculate New Bookings per Marketing FTE??
To calculate New Bookings per Marketing FTE, divide the total value of Marketing Originated Bookings by the number of full-time equivalent employees in the marketing department.
The formula is as follows:
New Bookings per Marketing FTE Formula
Total Value of Marketing Originated Bookings / Number of Marketing FTE Employees
How can I improve New Bookings per Marketing FTE??
- Performance Metrics: Set clear performance metrics and targets for marketing personnel, aligning their efforts with revenue generation goals.
- Skills Development: Invest in ongoing training and skill development for marketing employees to enhance their effectiveness in driving bookings.
- Effective Campaigns: Prioritize and execute marketing campaigns that have a high potential to generate bookings and align with business objectives.
- Marketing Technology: Leverage marketing automation and technology tools to streamline marketing processes and optimize resource utilization.
- Collaboration: Encourage collaboration between marketing and sales teams to ensure that marketing efforts are closely aligned with the sales process and the conversion of leads into bookings.
By closely monitoring and optimizing New Bookings per Marketing FTE, businesses can ensure that their marketing team is productive and contributes effectively to revenue generation, leading to business growth and success.
