For Australian SMEs, particularly those dealing with complex products or services, lengthy sales cycles are often the norm. It’s a common challenge – you’re investing in marketing now, but seeing the revenue impact months, even years, down the track. This makes justifying that spend to stakeholders tricky. We see this frequently, and it’s about shifting the focus from immediate ‘sales’ to building a robust marketing ecosystem that delivers predictable, long-term returns.
The traditional approach of tying marketing directly to immediate sales isn’t effective when your customer journey is extended. Instead, we advocate for a more sophisticated attribution model. This means understanding which marketing activities contribute to each stage of the buyer’s journey, not just the final conversion. Think of it less as ‘did this ad make a sale?’ and more as ‘did this content nurture a lead closer to a sale?’
- Focus on Marketing Qualified Leads (MQLs): Instead of solely tracking sales, prioritise MQLs – potential customers who have demonstrated genuine interest and fit your ideal customer profile. These are a leading indicator of future revenue.
- Implement a Multi-Touch Attribution Model: Tools are available to analyse all touchpoints a customer has with your brand before converting. This reveals which channels are most influential, even if they don’t directly result in the final sale.
- Invest in Brand Building: Long sales cycles mean customers have time to research and compare. A strong brand builds trust and preference, making you the obvious choice when they’re ready to buy. Content marketing, thought leadership and consistent messaging are key here.
- Lifetime Value (LTV) Calculation: Understanding the total revenue a customer will generate over their relationship with your business is crucial. A higher LTV justifies a greater upfront investment in acquiring that customer, even with a long sales cycle.
Looking ahead to 2026 and 2027, this approach becomes even more vital. Increased competition and a more informed customer base will lengthen decision-making processes. By focusing on building a predictable pipeline of MQLs, demonstrating the value of each marketing touchpoint, and understanding LTV, you can confidently justify your marketing spend and drive sustainable growth.
The next step is to audit your current marketing activities and identify how they contribute to each stage of the buyer’s journey. From there, we can refine your attribution model and build a data-driven case for continued investment.
