It’s a struggle to show how marketing impacts revenue growth, profitability, and customer retention. How do CMOs translate all the work they do into actual business metrics?
Marketing performance and attribution tools prove marketing’s impact on company goals and objectives. Performance and attribution tools instill a sense of accountability for marketing investments.
— Adwin Gerritsen (@Adwin_G) September 23, 2015
Definition. According to SiriusDecisions, marketing performance and attribution tools help assign “won revenue values back to the marketing tactics with which buyers engaged along their path to purchase.” Performance and attribution software help marketers focus on the metrics that matter most to the business. These tools quantify how marketing initiatives have moved the needle on business goals.
— Bizible (@bizible) January 8, 2016
Why This Matters. Research from The Pedowitz Group found that B2B marketing budgets each year are increasingly tied to ROI. CMOs will not be able to justify marketing budgets unless they can link marketing actions with profitable growth.
Marketing performance and attribution helps marketers identify and acquire the most profitable customers at the lowest cost. Forrester Research found that B2B companies gain an average of 15 to 18 percent revenue growth by implementing closed-loop attribution systems.
— Duane Bailey (@duanebailey) January 4, 2016
What To Look For. Remember to ask the following questions while interacting with marketing performance and attribution vendors:
- Does the tool help you analyze the lifetime value of a customer?
- Can you select the right company level metrics to prove marketing return on investment?
- Can you incorporate different attribution models to understand the impact of marketing initiatives?
- Can you monitor campaigns in different marketing channels across the buying journey?
- Can the tool integrate with other data sources for delivering a single source of truth?
Sponsors. Interact with these seven marketing performance vendors at MarTech 2016:
Allocadia gives you a better understanding of your marketing performance and insights — helping you drive more revenue.
Beckon consolidates and organizes marketing’s spend and performance data across all channels and provides a framework for data-driven, intentional marketing.
Bizible helps online marketers answer the simple question “what’s working” in terms of real return-on-investment, revenue, and closed sales.
Brightfunnel provides a powerful revenue attribution and forecasting platform that helps enterprise marketers turn campaigns into profits.
Full Circle Insights provides Salesforce users a complete marketing performance management solution answering their marketing questions in one place.
Origami Logic empowers marketers to answer the question “What happened today?” by measuring the marketing signals that matter.
Pointillist reveals the critical paths consumers take as they engage with your brand across channels and over time, and predicts what they will do next.