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Campaign Attribution & Funnel Metrics: The New Normal?

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www.fullcircleinsights.com
Forrester analyst Allison Snow and Full Circle Insights President & CEO Bonnie Crater present a view of a marketing measurement infrastructure that generates actionable insights. Allison Snow presents the world of B2B data and measurement today, while Bonnie Crater shows you how to stand up your marketing reporting stack to make it work for you.

Publicada em: Marketing
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Campaign Attribution & Funnel Metrics: The New Normal?

  1. 1. Campaign Attribution + Funnel Metrics = The New Normal? September 2016
  2. 2. 2 Your Speakers Allison Snow Senior Analyst Forrester Bonnie Crater President and CEO Full Circle Insights
  3. 3. Agenda • Data and Marketing Today • The Vision: Commonly Recognized Opportunities • The Obstacles: Commonly Recognized Challenges • Addressing Marketing Challenges in the New Normal • Q&A
  4. 4. © 2016 Forrester Research, Inc. Reproduction Prohibited 4 We work with business and technology leaders to develop customer-obsessed strategies that drive growth.
  5. 5. © 2016 Forrester Research, Inc. Reproduction Prohibited 5 Marketing Performance Management It’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
  6. 6. © 2016 Forrester Research, Inc. Reproduction Prohibited 6 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?
  7. 7. © 2016 Forrester Research, Inc. Reproduction Prohibited 7 Sharp Focus on Revenue Performance Source: “Get Ready For The B2B Marketing Renaissance” Forrester report
  8. 8. © 2016 Forrester Research, Inc. Reproduction Prohibited 8 Struggle to Link Spending To Results Source: “2016 Budget Plans Show That It’s Time For A Digital Wake-Up Call” Forrester report
  9. 9. © 2016 Forrester Research, Inc. Reproduction Prohibited 9 Forrester Perspective › Data and Marketing Today › The Vision: Commonly Recognized Opportunities › The Obstacles: Commonly Recognized Challenges
  10. 10. © 2016 Forrester Research, Inc. Reproduction Prohibited 10 Commonly Recognized Opportunities I know that demonstrating marketing’s performance will support our collaboration with Sales. Performance Management Comes With Expected Benefits
  11. 11. © 2016 Forrester Research, Inc. Reproduction Prohibited 11 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.
  12. 12. © 2016 Forrester Research, Inc. Reproduction Prohibited 12 Commonly Recognized Opportunities I know that understanding marketing’s performance will enable us to predict the marketing mix required to impact revenue. 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.
  13. 13. © 2016 Forrester Research, Inc. Reproduction Prohibited 13 Commonly Recognized Opportunities I know that understanding marketing’s performance will enable us to predict the marketing mix required to impact revenue. I know that demonstrating marketing’s performance will support our collaboration with Sales. Performance Management Comes With Expected Benefits I know that increased insight into my campaigns will expose the mini- levers I can pull to impact revenue. I know that if we understand lead behavior further through the funnel we could adjust my lead acquisition and nurturing tactics.
  14. 14. © 2016 Forrester Research, Inc. Reproduction Prohibited 14 Commonly Recognized Opportunities I know that understanding marketing’s performance will enable us to predict the marketing mix required to impact revenue. I know that demonstrating marketing’s performance will support our collaboration with Sales. Performance Management Comes With Expected Benefits I know that increased insight into my campaigns will expose the mini- levers I can pull to impact revenue. I know that if we understand lead behavior further through the funnel we could adjust my lead acquisition and nurturing 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.
  15. 15. © 2016 Forrester Research, Inc. Reproduction Prohibited 15 Commonly Recognized Opportunities I know that understanding marketing’s performance will enable us to predict the marketing mix required to impact revenue. I know that demonstrating marketing’s performance will support our collaboration with Sales. Performance Management Comes With Expected Benefits I know that increased insight into my campaigns will expose the mini- levers I can pull to impact revenue. I know that if we understand lead behavior further through the funnel we could adjust my lead acquisition and nurturing 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.
  16. 16. © 2016 Forrester Research, Inc. Reproduction Prohibited 16 Forrester Perspective › Data and Marketing Today › The Vision: Commonly Recognized Opportunities › The Obstacles: Commonly Recognized Challenges
  17. 17. © 2016 Forrester Research, Inc. Reproduction Prohibited 17 Commonly Recognized Challenges How do we prioritize campaign attribution vs. funnel metrics? Where do we start?
  18. 18. © 2016 Forrester Research, Inc. Reproduction Prohibited 18 Commonly Recognized Challenges How 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.
  19. 19. © 2016 Forrester Research, Inc. Reproduction Prohibited 19 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? 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.
  20. 20. © 2016 Forrester Research, Inc. Reproduction Prohibited 20 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? 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. It is time-consuming (and mistake- prone) to merge isolated data sets from channel-centric execution tools.
  21. 21. © 2016 Forrester Research, Inc. Reproduction Prohibited 21 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? 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. It is time-consuming (and mistake- prone) to merge isolated data sets from channel-centric execution tools. 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.
  22. 22. © 2016 Forrester Research, Inc. Reproduction Prohibited 22 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? 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. It is time-consuming (and mistake- prone) to merge isolated data sets from channel-centric execution tools. 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. 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.
  23. 23. © 2016 Forrester Research, Inc. Reproduction Prohibited 23 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? 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. It is time-consuming (and mistake- prone) to merge isolated data sets from channel-centric execution tools. 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. 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?
  24. 24. 24 Addressing the Challenges in Marketing Measurement
  25. 25. The State of Marketing Measurement Today 25 Marketing Automation Salesforce CRM Impact: Marketers don’t have the visibility they need
  26. 26. Our view of the world… “Revenue impact is most important” 26
  27. 27. Our view of the world… Funnel Metrics “Revenue impact is most important” 1 27
  28. 28. Our view of the world… Funnel Metrics Campaign Attribution “Revenue impact is most important” 1 2 28
  29. 29. Funnel Metrics 101 VOLUME CONVERSION • Define funnel stages • Set baseline • Measure against goals VELOCITY 29
  30. 30. Why Measuring Leads Doesn’t Work 30
  31. 31. Why Measuring Leads Doesn’t Work 31 Attribution: Visibility into which campaigns are really working
  32. 32. Recommended Strategy 32 • Collect all your data in the CRM • Understand process with funnel metrics 1. Find bottlenecks 2. Learn and reduce waste 3. Use reverse funnel for planning • Prioritize campaigns using campaign attribution 1. Identify top campaigns 2. Identify low performing campaigns 3. Learn and re-prioritize
  33. 33. Responding to the Measurement Challenge 1. How to prioritize campaign attribution and funnel metrics within your measurement set 2. Isolating the conversion event 3. Always getting asked about benchmarks 4. Merging disparate data sets 5. Constant state of reaction 6. Defending “marketing influenced” 7. Sales effectiveness 33
  34. 34. 1. How to prioritize campaign attribution and funnel metrics within your measurement set (1) Funnel Metrics (2) Campaign Attribution (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 clickthroughs Filter by segment Page views Page clicks Bounce rates 34 2 Campaign Attribution Funnel Metrics 1 +
  35. 35. 2. Isolating the conversion event Campaign Influence: MQL-SAL Sum of Open Opportunity • Build a list of top campaigns that correlate to conversions from stage to stage 35 2 Campaign Attribution Funnel Metrics 1 +
  36. 36. 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 36 2 Campaign Attribution Funnel Metrics 1
  37. 37. 3. Always getting asked about benchmarks 37 • Understand your baseline • Set goals • Measure progress against goals 2 Campaign Attribution 1 Funnel Metrics
  38. 38. 4. Merging isolated data sets 38 All Data in CRM
  39. 39. 5. Constant state of reaction 39 All Data in CRM Drill Down Segmentation 2 Campaign Attribution 1 Funnel Metrics +
  40. 40. 6. Defending “marketing influenced” We drove $XXX revenue! 40
  41. 41. 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. 41 0% 20% 40% 60% 80% 2 Campaign Attribution 1 Funnel Metrics +
  42. 42. 7. Sales effectiveness 42 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 Campaign Attribution Funnel Metrics 1
  43. 43. Top 3 Recommendations 1. Put all your data in your CRM 2. Use funnel metrics first to understand your business 3. Use campaign attribution to understand campaign impact
  44. 44. Thank You! 44 Q&A

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