I don't think there's a company we've spoken to that didn't want a better return on their marketing investments.  Everyone understands the concept of demanding a tangible ROI from marketing.  The challenge lies in helping clients understand that in order to effectively monetize marketing results, you must break down the initiative into smaller, digestible parts.

Swinging for the Fences
When we evaluate marketing programs, the most common mistake we see, whether it be an interactive marketing program, an event marketing strategy, an email marketing newsletter, or even a brand development effort, is that the promotion itself is trying to accomplish too much.  If we understand the buying process, and embrace all of the steps necessary to take a someone from cold prospect to loyal customer, we can start to shed some light on this.  With the exception of pure impulse buys, how many times has one ad, one email, one promotion causes you to make a major purchase?  We shouldn't expect the same from our customers.

In my experience the best approach is to break down the overall goal of increased revenue into digestible steps that mirror the buying process.  At the simplest level, we need to attract, cultivate, close, and retain.  Now, what should your next print advertisement, tradeshow or customer event marketing program, or email marketing campaign be designed to accomplish?  I might argue that it should be one clearly-defined step in your sales process or the customer's buying process.

For example, if I do a great job of getting people to sign up for a webinar, attend it, download a whitepaper afterward, participate in a demo after that, and discuss their particular requirements with me following the demo, I stand a great chance of developing a solution that meets their needs and closing the sale.  My communications around each of these should focus on accomplishing just that one step.  My goal is to achieve multiple small commitments from a prospective customer that are likely to lead to a signature on the proposal. 

By separating my communications and properly aligning my expectations with the achievement of these small steps in the buying cycle, I stand a much better chance of measuring my success and marketing ROI on each endeavor, and monetizing the results along the entire spectrum of marketing programs.  That's how you build an effective ROI marketing strategy.