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Navigating B2B Attribution - SMX East 2017 - Amy Bishop

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Check out these slides to understand why attribution modeling gets a bad reputation and what you can do to make your models more effective. Moreover, how to set up your model, tools to review, which attribution model to use and when and tips for reviewing the effectiveness of high funnel display.

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Navigating B2B Attribution - SMX East 2017 - Amy Bishop

  1. 1. #SMX #31B @hoffman8 Quantifying the Value of Your Marketing Efforts Navigating B2B Attribution
  2. 2. #SMX #31B @hoffman8 That One Slide • Director of Digital Marketing & MarTech at ZirMed • Travel Enthusiast • Loves cat memes. Okay, any memes. • Twitter: @Hoffman8
  3. 3. #SMX #31B @hoffman8 One of the toughest things about B2B Marketing is tying the results back to the channels.
  4. 4. #SMX #31B @hoffman8 • Which attribution method is the right attribution method? • How can we quantify the value of leads? • How should we leverage closed-loop data? Tracking Results is Tricky
  5. 5. #SMX #31B @hoffman8 • Sales cycles have several touchpoints • Decisions are made by teams • Sales cycles can be long • Sales (often) happen offline B2B Tracking is Even Tougher
  6. 6. #SMX #31B @hoffman8 • CPL goals are set • Emphasis is placed on efficiency So Focus is Placed Elsewhere Lower CPL = Higher Budget
  7. 7. #SMX #31B @hoffman8 • Lowest CPLs ≠ highest quality • Incorrect prioritization of campaigns & channels • Revenue constrained due to efficiency focus But CPL Can Give False Positives
  8. 8. #SMX #31B @hoffman8 Attribution Is Getting Some Bad Press “Attribution is a joke” “Attribution is a fallacy” “Attribull****” “Attribution is foolish”
  9. 9. #SMX #31B @hoffman8 If you are tracking conversions, you are using an attribution model.
  10. 10. #SMX #31B @hoffman8 Why Does Attribution Get a Bad Rap? Can Be Inaccurate If: • Trying to add data together from multiple platforms • Multiple sources can be used to validate each other • All channels aren’t accounted for • The lookback window is off • Cross-device tracking isn’t in place
  11. 11. #SMX #31B @hoffman8 Navigating B2B Attribution 1. Define what we need to track 2. Determine the source of truth 3. Determine the attribution modeling source 4. Choose an attribution model 5. Supplement with early indicators 6. Put the data to work
  12. 12. #SMX #31B @hoffman8 To Determine Where You Should Go, You Must Know Where You’ve Been
  13. 13. #SMX #31B @hoffman8 Make Sure To Set Up Your “Trail Markers” Ensure there is a consistent method for tracking all channels & corresponding touch points.
  14. 14. #SMX #31B @hoffman8 Examples: Tradeshows: Discussion vs. Booth Visit vs. Attendee List Emails: Sent vs. Open vs. Click vs. Conversion SDRs: All Outreach vs Responses
  15. 15. #SMX #31B @hoffman8 Map Out Your Trail Markers 1. List all of your channels 2. Identify what will be considered a “touch point” for each 3. Begin to think about how this information can be captured and tracked
  16. 16. #SMX #31B @hoffman8 Set Up Your Call Tracking • Track calls by source with dynamic ringpools & static numbers • Integrate call tracking into our CRM • Integrate call tracking into campaign reports
  17. 17. #SMX #31B @hoffman8 Best Way Best Avenue Choosing Your Navigational Tools
  18. 18. #SMX #31B @hoffman8 Aggregating the Data
  19. 19. #SMX #31B @hoffman8 Identified Marketing Touchpoints Your Main Data Source
  20. 20. #SMX #31B @hoffman8 • Can it track everything we want to track? • What integrations exist? • How will I report out of this platform? • Does it require an additional tool? • How long will we maintain this platform? • If not long-term, can the data be transitioned to a new platform? • Can we commit to keeping it up to date? Things to Ask When Deciding Where To Store the Data
  21. 21. #SMX #31B @hoffman8 Our Platform of Choice
  22. 22. #SMX #31B @hoffman8 Our Platform of Choice Marketing Attribution Platform
  23. 23. #SMX #31B @hoffman8 Why I don’t Advocate for Google Analytics as the Primary Data Source for Attribution So much information missing: • Offline sales • Account-level information
  24. 24. #SMX #31B @hoffman8 Benefits of a Data Source That Connects to Customer Data • Decisions made on teams • Connect to offline sales • Mobilizing the data • Device tracking
  25. 25. #SMX #31B @hoffman8 Joan registered for a webinar via social Sally clicked through an email John downloaded a whitepaper via PPC Account-Based Attribution Acme Organization
  26. 26. #SMX #31B @hoffman8 Connecting Clicks to Bricks • Decisions made on teams • Connect to offline sales • Mobilizing the data • Device tracking
  27. 27. #SMX #31B @hoffman8 Leveraging the Data • Decisions made on teams • Connect to offline sales • Making the data actionable • Device tracking
  28. 28. #SMX #31B @hoffman8 Content they’ve engaged with Channel that drove traffic Products purchased & shown interest in Contact info & info for other account contacts
  29. 29. #SMX #31B @hoffman8 Connecting Activity Between Devices • Decisions made on teams • Connect to offline sales • Mobilizing the data • Device tracking
  30. 30. #SMX #31B @hoffman8 If identity stitching is in place, cross-device tracking can (start to) take care of itself
  31. 31. #SMX #31B @hoffman8 Your Primary Data Source Might Also beYour Attribution Platform but it Doesn’t Have to Be
  32. 32. #SMX #31B @hoffman8 Platforms to Check Out
  33. 33. #SMX #31B @hoffman8 Attribution Platform Considerations • Expiration of Touches (Lookback window) • Integrations & Additional Tracking Elements • Ability to filter the data • Additional reporting options: • Lead velocity • Close rates & funnel visualization
  34. 34. #SMX #31B @hoffman8 Building Your Attribution Model Upon Your Single Source of Truth Allows You To Quantify The Value of Your Efforts
  35. 35. #SMX #31B @hoffman8 Mapping the Model to the Use Case
  36. 36. #SMX #31B @hoffman8 Most Common Attribution Models First-Touch Last-Touch Linear (EvenlyWeighted) Position-Based (U-Shaped) Time Decay Attributes all credit to the first touch Attributes all credit to the last touch Evenly attributes all credit across all touches Attributes the most credit to the first and last touches, evenly distributing the rest of the credit to the middle touches Attributes credit based upon recency of touches
  37. 37. #SMX #31B @hoffman8 Choosing The Right Attribution Model
  38. 38. #SMX #31B @hoffman8 High Funnel Mid-Funnel Taking a Global Look at Attribution Low Funnel Evenly Weighted Position Based Time Decay Data Driven or Custom
  39. 39. #SMX #31B @hoffman8 When to Use Each of These Low Funnel Evenly Weighted Position Based Time Decay Data Driven or Custom • Buying cycle is long • Nurture plays a big role • Emphasis on first & last touch • Small emphasis on nurture • Buying cycle is short; or • Focus is on low-funnel • If you have the data and resources
  40. 40. #SMX #31B @hoffman8 FirstTouch LastTouch High Funnel Mid-Funnel Zeroing in On Paths Low Funnel
  41. 41. #SMX #31B @hoffman8 FirstTouch High Funnel Mid-Funnel Zeroing in On Paths Low Funnel • Evaluating high funnel campaigns • Focus on growth
  42. 42. #SMX #31B @hoffman8 LastTouch High Funnel Mid-Funnel Zeroing in On Paths Low Funnel • Evaluating low funnel campaigns • Focus on efficiency
  43. 43. #SMX #31B @hoffman8 IfYour Attribution Model isYour Map, Think of Google Analytics asYour Compass.
  44. 44. #SMX #31B @hoffman8 Leveraging Micro-Conversions What is their current buying cycle stage?
  45. 45. #SMX #31B @hoffman8 Leveraging Micro-Conversions What is their current buying cycle stage? What problem are they solving?
  46. 46. #SMX #31B @hoffman8 Leveraging Micro-Conversions What is their current buying cycle stage? What problem are they solving? What is needed to get to the next step in the buying cycle?
  47. 47. #SMX #31B @hoffman8 Micro-Conversions Video eBook White paper Case Study Infographic Blog Posts Fact Sheet FAQ Webinar ByThe Numbers Sheet
  48. 48. #SMX #31B @hoffman8 Using Micro-Conversions to Drive the Funnel High Funnel Mid-Funnel Low Funnel • Leverage paid social & display • Drive high-funnel content views • Leverage retargeting & email • Drive mid-funnel content • Leverage retargeting, paid search & email • Drive low-funnel content
  49. 49. #SMX #31B @hoffman8 Google Analytics’ Last Click Model Works Here Infographic Webinar Case Study Each campaign has a direct response goal to measure. • Analyzing on-page conversion rates & traffic sources • Creating audiences to connect the dots between channels Meanwhile PullingThe Content Engagement Data into Salesforce for Big-Picture Attribution
  50. 50. #SMX #31B @hoffman8 Even With All The Best Planning and Tools, It’s Possible to Lose Data
  51. 51. #SMX #31B @hoffman8 • Even with identity stitching, normal cookie-tracking imperfections still apply • Cross-device tracking issues are minimized but still not perfect • Post-Impression attribution Nearly Unavoidable Challenges
  52. 52. #SMX #31B @hoffman8 Additional Impact Tests for high funnel media Identify a list of people
  53. 53. #SMX #31B @hoffman8 Additional Impact Tests for high funnel media Divide the list at random.
  54. 54. #SMX #31B @hoffman8 Additional Impact Tests for high funnel media Show ads to the randomly selected recipients Your Fantastic, Convincing Ad Here Maybe Even Here
  55. 55. #SMX #31B @hoffman8 Additional Impact Tests for high funnel media Send the whole list a targeted follow-up communication. --------------------------- --------------------------- ------------------ --------------------------- --------------------------- -------------------------. Logo Irresistible CTA Killer Offer
  56. 56. #SMX #31B @hoffman8 Additional Impact Tests for high funnel media Measure the Lift in Subsequent Engagement. Rinse & Repeat.
  57. 57. #SMX #31B @hoffman8 Imperfections Notwithstanding, There’s Still Value in the Outcome
  58. 58. #SMX #31B @hoffman8 • Incorporating offline campaigns • Accounting for team-based decisions • Connecting (offline) sales to marketing touches • Setting the correct lookback window • Quantifying the value of leads Problems That Can be Solved For:
  59. 59. #SMX #31B @hoffman8 Navigating B2B Attribution Set UpYourTrail Markers ChooseYour Navigational System(s) MapYour Model to the Use Case Don’t Forget Your Compass
  60. 60. #SMX #31B @hoffman8 1. Make a comprehensive list of channels to track • What metric(s) will be considered a touch? • How will it be tracked? 2. Choose your source-of-truth. • Access to customer data, identity stitching and integrations for tracking purposes. • Commitment to consistently maintaining (preferably long-term) 3. Choose your attribution platform • Review settings for lookback, filtering, tracking & integration • Review modeling capabilities and visualizations 4. Know when to use each attribution model 5. Set up micro-conversions for early indicators 6. Mobilize the data to propel sales & cross-sell Action Items
  61. 61. #SMX #31B @hoffman8 And When You’ve Reached Your Destination…
  62. 62. #SMX #31B @hoffman8 Put Your Learnings to Use 1. Base decisions on ROI and revenue generation. 2. Budget accordingly.
  63. 63. #SMX #31B @hoffman8 LEARN MORE: UPCOMING @SMX EVENTS THANK YOU! SEE YOU AT THE NEXT #SMX

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