What are Marketing Originated Bookings?
Marketing Originated Bookings, often abbreviated as MOB, refer to the total value of bookings or sales revenue directly attributed to marketing efforts and initiatives. These bookings are the result of marketing activities that have influenced or facilitated the conversion of leads or prospects into paying customers or clients.
Why is it important to monitor Marketing Originated Bookings?
Monitoring Marketing Originated Bookings is essential for businesses as it provides insights into the direct impact of marketing efforts on revenue generation. It allows companies to evaluate the effectiveness of their marketing strategies and campaigns in driving actual revenue and bookings. By tracking MOB, organizations can make informed decisions about marketing investments, optimization of campaigns, and resource allocation.
How do you calculate Marketing Originated Bookings?
To calculate Marketing Originated Bookings, you need to sum up the total value of bookings or sales revenue that can be directly attributed to marketing activities. This includes bookings from leads or customers who were initially acquired or influenced by marketing efforts. The formula for calculating MOB is:
MOB Formula
Total Bookings from Leads or Customers Influenced by Marketing
How can I improve Marketing Originated Bookings?
- Lead Quality: Focus on generating and nurturing high-quality leads that are more likely to convert into customers, thereby increasing the value of bookings influenced by marketing.
- Customer-Centric Approach: Tailor your marketing campaigns and messaging to address the needs and pain points of your target audience, emphasizing the value and benefits of your products or services.
- Conversion Rate Optimization: Continuously optimize the conversion process, including website, landing pages, and sales funnels, to improve the overall effectiveness of marketing in driving bookings.
- Lead Nurturing: Implement lead nurturing strategies to guide leads through the buyer’s journey, providing them with the information and support they need to make a booking decision.
- Attribution Modeling: Use advanced attribution models to better understand how different marketing touchpoints contribute to bookings, allowing you to allocate resources more effectively.
By closely monitoring and optimizing Marketing Originated Bookings, businesses can enhance the revenue generated from marketing efforts and ensure that marketing is contributing significantly to the company’s bottom line.
