campaign attribution & funnel metrics: the new normal?

Campaign Attribution + Funnel Metrics =

The New Normal?

September 2016

2

Your Speakers

Allison SnowSenior Analyst

Forrester

Bonnie CraterPresident and CEOFull Circle Insights

Agenda• Data and Marketing Today• The Vision: Commonly Recognized

Opportunities • The Obstacles: Commonly Recognized

Challenges• Addressing Marketing Challenges in the

New Normal• Q&A

© 2016 Forrester Research, Inc. Reproduction Prohibited 4

We work with business and technology leaders to develop customer-obsessed strategies that drive growth.


Marketing Performance ManagementIt’s Kind Of A Big Deal

“There is only one valid definition of business purpose: to create a customer.

(And) because its purpose is to create a customer, the business enterprise has two — and only these two — basic functions: marketing and innovation.

“Marketing and innovation produce results; all the rest are ‘costs.’”Peter Drucker

Consultant, Educator, and Author


Data and Marketing Today What We’re Hearing From Practitioners Like You

B2B marketers want:

› Articulated company goals – a “North Star”

› Buy-in at strategic level*

› Demonstrated revenue impact

*if this is such a cliché, why is it still so hard?


Sharp Focus on Revenue Performance

Source: “Get Ready For The B2B Marketing Renaissance” Forrester report


Struggle to Link Spending To Results

Source: “2016 Budget Plans Show That It’s Time For A Digital Wake-Up Call” Forrester report


Forrester Perspective

› Data and Marketing Today

› The Vision: Commonly Recognized Opportunities

› The Obstacles: Commonly Recognized Challenges


Commonly Recognized Opportunities

I know that demonstrating marketing’s performance will support

our collaboration with Sales.

Performance Management Comes With Expected Benefits






I know that if we understand lead behavior further through the

funnel we could adjust my lead acquisition and nurturing

tactics.



I know that understanding marketing’s performance will enable us to predict the

marketing mix required to impact revenue.






tactics.








I know that increased insight into my campaigns will expose the mini-

levers I can pull to impact revenue.



tactics.












tactics.

I know that if all of my results data were in the same place we could draw insights from it in time to impact near-term campaigns.












tactics.

I know that demonstrating marketing’s performance will increase our

relevance to the C-suite.

I know that if all of my results data were in the same place we could draw insights from it in time to impact near-term campaigns.


Forrester Perspective

› Data and Marketing Today

› The Vision: Commonly Recognized Opportunities

› The Obstacles: Commonly Recognized Challenges


Commonly Recognized ChallengesHow do we prioritize campaign attribution vs. funnel metrics?

Where do we start?


Commonly Recognized ChallengesHow do we prioritize campaign attribution vs. funnel metrics?

Where do we start?

Our sales cycle is quite long. It’s impossible to know what’s happened

over the life of a lead through our funnel. We’ll never isolate the conversion event.


Commonly Recognized Challenges

We don’t get asked nearly often enough how we’re performing vs. a previous quarter or previous year. My execs want to know how other companies are performing against our own benchmarks.

How do we prioritize campaign attribution vs. funnel metrics?

Where do we start?







Where do we start?



It is time-consuming (and mistake-prone) to merge isolated data sets from channel-centric execution tools.





Where do we start?




Just when I think we’ve provided decision makers with all of the data they can handle, they have a

whole new set of scenarios they’d like to see played out. We’re in a constant state of reaction.





Where do we start?






I’m tired of defending the concept of “marketing-influenced” opportunities. We need to credit where credit is due – but also – we need to know what’s working.





Where do we start?






I’m tired of defending the concept of “marketing-influenced” opportunities. We need to credit where credit is due – but also – we need to know what’s working.

I’m willing to be transparent about Marketing’s contribution – but who’s accountable for sales effectiveness and the competitive profile of our products? Where are those metrics?

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Addressing the Challenges in Marketing Measurement

The State of Marketing Measurement Today

25

Marketing Automation

Salesforce CRM

Impact: Marketers don’t have the visibility they need

Our view of the world…

“Revenue impact is most important”

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Funnel Metrics


1

27


Funnel Metrics Campaign Attribution


1 2

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Funnel Metrics 101

VOLUME

CONVERSION • Define funnel stages• Set baseline• Measure against goals

VELOCITY

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Why Measuring Leads Doesn’t Work

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Why Measuring Leads Doesn’t Work

31Attribution: Visibility into which campaigns are really working

Recommended Strategy

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• Collect all your data in the CRM• Understand process with funnel metrics

1. Find bottlenecks2. Learn and reduce waste3. Use reverse funnel for planning

• Prioritize campaigns using campaign attribution1. Identify top campaigns2. Identify low performing campaigns3. Learn and re-prioritize

Responding to the Measurement Challenge

1. How to prioritize campaign attribution and funnel metrics within your measurement set

2. Isolating the conversion event3. Always getting asked about benchmarks4. Merging disparate data sets5. Constant state of reaction6. Defending “marketing influenced” 7. Sales effectiveness

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1. How to prioritize campaign attribution and funnel metrics within your measurement set

(1) Funnel Metrics (2) CampaignAttribution

(3) Above-the-funnel

Volume, velocity, and conversion rates

Sales impact by Campaign

Ad impressions

Funnel metrics KPIs or goals

Sales impact by Campaign Type

Email opens

Filter by segment Pipeline impact Email clickthroughsFilter by segment Page views

Page clicksBounce rates

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2

CampaignAttribution

FunnelMetrics

1

+

2. Isolating the conversion event

Campaign Influence: MQL-SALSum of Open

Opportunity

• Build a list of top campaignsthat correlate to conversions from stage to stage

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2

CampaignAttribution

FunnelMetrics

1

+

2. Isolating the conversion event

Historical Period Data Current Data So Far

Can compare early results to historical period (e.g., is this year’s velocity better so far?)

Use historical data to goal-set, plan, and optimize for bottom of funnel results

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2

CampaignAttribution

FunnelMetrics

1

3. Always getting asked about benchmarks

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• Understand your baseline• Set goals• Measure progress against goals

2

CampaignAttribution

1

FunnelMetrics

4. Merging isolated data sets

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All Data in CRM

5. Constant state of reaction

39

All Data in CRM

Drill Down

Segmentation

2

CampaignAttribution

1

FunnelMetrics

+

6. Defending “marketing influenced”

We drove $XXX revenue!

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6. Defending “marketing influenced”

We teed up XX leads that converted at X% rate while sales teed up YY leads that converted at Y% rate.

Here’s a chart that shows the % of total leads closed by source and a

chart that shows the % revenue closed by source.

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0%

20%

40%

60%

80%

2

CampaignAttribution

1

FunnelMetrics

+

7. Sales effectiveness

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0

100

200

300

400

500

600

700

800

900

Jan Feb Mar Apr May Jun

MQLs by Month

0%

10%

20%

30%

40%

50%

60%

70%

80%

Jan Feb Mar Apr May Jun

SAL Rate by Month

2

CampaignAttribution

FunnelMetrics

1

Top 3 Recommendations

1. Put all your data in your CRM2. Use funnel metrics first to understand your

business3. Use campaign attribution to understand

campaign impact

Thank You!

44

Q&A