Post on 14-Apr-2017
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.
© 2016 Forrester Research, Inc. Reproduction Prohibited 5
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
© 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?
© 2016 Forrester Research, Inc. Reproduction Prohibited 7
Sharp Focus on Revenue Performance
Source: “Get Ready For The B2B Marketing Renaissance” Forrester report
© 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
© 2016 Forrester Research, Inc. Reproduction Prohibited 9
Forrester Perspective
› Data and Marketing Today
› The Vision: Commonly Recognized Opportunities
› The Obstacles: Commonly Recognized Challenges
© 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
© 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.
© 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.
© 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.
© 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.
© 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.
© 2016 Forrester Research, Inc. Reproduction Prohibited 16
Forrester Perspective
› Data and Marketing Today
› The Vision: Commonly Recognized Opportunities
› The Obstacles: Commonly Recognized Challenges
© 2016 Forrester Research, Inc. Reproduction Prohibited 17
Commonly Recognized ChallengesHow do we prioritize campaign attribution vs. funnel metrics?
Where do we start?
© 2016 Forrester Research, Inc. Reproduction Prohibited 18
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.
© 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.
© 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.
© 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.
© 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.
© 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
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”
26
Our view of the world…
Funnel Metrics
“Revenue impact is most important”
1
27
Our view of the world…
Funnel Metrics Campaign Attribution
“Revenue impact is most important”
1 2
28
Funnel Metrics 101
VOLUME
CONVERSION • Define funnel stages• Set baseline• Measure against goals
VELOCITY
29
Why Measuring Leads Doesn’t Work
30
Why Measuring Leads Doesn’t Work
31Attribution: Visibility into which campaigns are really working
Recommended Strategy
32
• 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
33
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
34
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
35
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
36
2
CampaignAttribution
FunnelMetrics
1
3. Always getting asked about benchmarks
37
• Understand your baseline• Set goals• Measure progress against goals
2
CampaignAttribution
1
FunnelMetrics
4. Merging isolated data sets
38
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!
40
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
CampaignAttribution
1
FunnelMetrics
+
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
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