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Marketing Attribution Modeling

Durring this session at MarTech West 2019, Mediacurrent's Director of Marketing Adam Kirby shares his approach to transitioning a 2K person SaaS organization from almost no KPIs to a multi-touch attribution model supported by sales, marketing, and the technology departments. You'll learn from his mistakes and walk away with a clear set of next steps to guide your organization to marketing attribution.

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Marketing Attribution Modeling
Marketing Attribution
What Is It & How to Get Started
Adam Kirby
Adam Kirby
Director of Marketing
Mediacurrent
Open source development and digital
marketing agency
CareerBuilder.com
Job Board / HRIS
@akirby310 /in/adamkirby310
Agenda
● Transitioning CareerBuilder
● What is Marketing Attribution
● How to Get Started
● Single Touch
● Multi-Touch
● Vendor Considerations
● Q&A
Ever Been Here?
“51% of responding
companies in North
America are carrying out
attribution on 'most or all'
of their campaigns...”
- Adroll 2017 State of Marketing
Attribution Report
Transitioning CareerBuilder

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Marketing Attribution Modeling

  • 2. Marketing Attribution What Is It & How to Get Started
  • 3. Adam Kirby Adam Kirby Director of Marketing Mediacurrent Open source development and digital marketing agency CareerBuilder.com Job Board / HRIS @akirby310 /in/adamkirby310
  • 4. Agenda ● Transitioning CareerBuilder ● What is Marketing Attribution ● How to Get Started ● Single Touch ● Multi-Touch ● Vendor Considerations ● Q&A
  • 5. Ever Been Here? “51% of responding companies in North America are carrying out attribution on 'most or all' of their campaigns...” - Adroll 2017 State of Marketing Attribution Report
  • 7. Transitioning CareerBuilder “We should be able to measure the value of our efforts in terms of Lead Generation, Conversion, and Revenue Contribution from an individual asset to a channel.” - Adam Kirby
  • 8. Transitioning Careerbuilder Measurement Strategy & Identified Data Gaps Relationship Building Learned Agile Development, MySQL, and Tableau Research Leader Buy- in Vendor Selection, Training, and Implementation C-Level Buy- in for Multi-Touch Vendor Multi-Touch Attribution & Last in Tableau Last Touch Attribution Multi-Touch Attribution Goals 3 Years Training Success Stories Iterating Vendor Research
  • 10. Attribution is the process of tracking and valuing marketing touch points that lead to a desired outcome. Quantifies the contribution of our marketing tactics so that we can improve the efficiency of our time and resource investments. Validates our suspicions that we are undervaluing the contributions of some or our efforts. Marketing Attribution
  • 13. The Key Understand and ensure your audience understands the insight gathered from your data.
  • 14. Modern B2B Buyers “The number of people involved in B2B solutions purchases has climbed from an average of 5.4 two years ago to 6.8 today.” Harvard Business Review
  • 15. Account Based Marketing Attribution The process of tracking and valuing marketing touch points for an entire account & not just an individual lead or contact. $
  • 18. The Why 20-30% Gain “According to Gartner, the typical outcome of implementing attribution is a 20-30% gain in media efficiency and corresponding increases in ROI.”
  • 20. The Why 54% Gain “54% of high-performing marketing teams are leading customer experience initiatives across the business.” - 2018 State of Marketing Report, Salesforce
  • 21. The Why • Justify Investments • Better Understanding of Customer Journey • Better Allocation of Budgets • Reduce Costs • Increase Leads • Increase Revenue • Creates Actionable Insight
  • 23. Common Challenges Complex Buyer’s Journey Siloed Data Bad Data
  • 24. Push Back We have too much marketing technology already. We already have customer journey analytics and kpis. Upgrading our measurement will interrupt our current process. Attribution? Sounds expensive.
  • 25. Your wins with attribution will outweigh your losses. You will hit hurdles and miss data, but you’ll be far better prepared to make changes and improve vs being completely in the dark. “All models are wrong but some are useful.” - George Box
  • 27. Process to Attribution 1. Strategy & Goals 2. Leadership Buy-in 3. Measurement Strategy 4. Data Centralization 5. Single Touch Attribution 6. Multi-Touch Attribution It’s an iterative process
  • 28. Strategy & Goals ● Where are you today and where do you want to end up? ● Set Clear & Measurable Objectives (SMART) (OKRs) ● Create Milestones with applicable KPIs to measure success. ● Consider what your stakeholders want. ● Have an elevator pitch.
  • 29. Strategy & Goals Create a multi-touch attribution model that measures the impact of our marketing investments, generate leads, and increases roi. We’re going to do this by identifying all touchpoints and technology in the funnel, normalizing, cleaning and centralizing our data so that we can build actionable reports using clean data. We’ll track our attainment with reduction of duplication in our crm, # of standardized data fields, feedback from sales, technology, and marketing. Ultimately we’ll contextualize the value of our model by using the output to, plan 2020 marketing investments, increase lead gen by x%, and cut wasted spend by y%. The timeline and milestones for this transition is...
  • 30. Leadership Buy-in ● Be a Salesperson ● Tie Attribution to Business and Department Objectives ● Leverage Stories and Data ● Invite Them to Help ● *Maintain Buy-in with success stories* C-Suite Technology Sales Marketing
  • 31. Leadership Buy-in 93% of high performers have integrated marketing and advertising technology stacks versus 69% of underperformers. 55% of high performers build budgets with their advertising teams versus 40% of underperformers. - 2018 State of Marketing Report, Salesforce
  • 32. Leadership Buy-in Lorem ipsum dolor sit amet at nec at adipiscing04 ● Donec risus dolor porta venenatis ● Pharetra luctus felis ● Proin in tellus felis volutpat Lorem ipsum dolor sit amet at nec at adipiscing03 ● Donec risus dolor porta venenatis ● Pharetra luctus felis ● Proin in tellus felis volutpat Lorem ipsum dolor sit amet at nec at adipiscing02 ● Donec risus dolor porta venenatis ● Pharetra luctus felis ● Proin in tellus felis volutpat Lorem ipsum dolor sit amet at nec at adipiscing01 ● Donec risus dolor porta venenatis ● Pharetra luctus felis ● Proin in tellus felis volutpat Lorem ipsum dolor sit amet at nec at adipiscing04 ● Donec risus dolor porta venenatis ● Pharetra luctus felis ● Proin in tellus felis volutpat Lorem ipsum dolor sit amet at nec at adipiscing03 ● Donec risus dolor porta venenatis ● Pharetra luctus felis ● Proin in tellus felis volutpat Lorem ipsum dolor sit amet at nec at adipiscing02 ● Donec risus dolor porta venenatis ● Pharetra luctus felis ● Proin in tellus felis volutpat Lorem ipsum dolor sit amet at nec at adipiscing01 ● Donec risus dolor porta venenatis ● Pharetra luctus felis ● Proin in tellus felis volutpat C-Suite ● Increase Sales ● Cut Costs Sales ● Increase Leads ● Increase Sales ● Improve Retention Marketing ● Prove Business Value ● Measure Tactics ● Improve ROI, Increase Leads, Less Waste Technology ● Clean Data, Reduced Fields, Reduced Duplication ● Processes that Impact Revenue ● Few Reporting Tickets
  • 33. ROI
  • 34. Create a Culture of Measurement
  • 35. Measurement Strategy Map the Customer Touchpoints Technology - Ownership - Data Storage - Unique Identifiers
  • 36. Run a Data Audit ● Open Text Fields in Salesforce = Eeek! ● Contact / Lead Duplication ● Duplicated Fields ● Missing Data ● What fields are missing data? ● What collection can be automated? ● What don’t you need? Measurement Strategy
  • 37. Measurement Strategy Standardize KPIs for each marketing tactic. You’ll need these for optimization.
  • 38. Measurement Strategy IDEATIONOPTIMIZE PLANANALYZE IMPLEMENT Consistent Process of Ideation, execution, and optimization. Do not create a culture of reporting.
  • 40. Site Forms Retargeting Paid Search Site Content Video Social Webinar Event Leads & Registration
  • 41. Centralizing Your Data Parent Campaign Child Campaign Child Campaign Child Campaign Child Campaign Parent Campaign Go to source for your sales and marketing team to learn about the campaign, timelines, and related assets. Talk to your sales and marketing team to learn what should be included and create a standardized template.
  • 42. Centralizing Your Data Child Campaign Child Campaign Stores the tactical level data as well as leads / contacts associated with each tactic for each campaign. Recommended Data to Capture ● Campaign Name ● Campaign Type: Channel or Medium (social, email, webinar, video, ppc, display, etc...) ● Campaign Source: Source (email2, facebook, google ad, website, etc...) ● Budgeted Cost ● Actual Cost ● Expected Revenue ● Standardize Campaign Member Statuses
  • 43. 2019 Q1 Target Account Campaign Source BrightTalk Campaigns in SF
  • 45. Single Touch Attribution Utilize Your Current Tech ● First & Last Touch Models are Available in SFDC ● SFDC Great Resources Here & Here ● Most Marketing Automation Platforms Have a Model ● Learn how the models are applied, and if needed, customize to meet your needs. Other Tools ● Excel ● Google Sheets ● Tableau ● Domo
  • 47. Site Forms Retargeting Paid Search Site Content Video Social Webinar Event Leads & Registration
  • 48. Single Touch Attribution ● Get really good at this before moving to multi-touch or at least before sharing multi-touch results. ● Share results with Sales - Talk to them. ● Talk to your customers to validate your findings and learn about their journey. ● Review your data and optimize - You will find gaps. ● Share Stories ● But don’t take drastic action!
  • 49. Success Story Alex, a Marketing Director, at a Prospect account SN Life Company landed on our site early Feb from a social media post. On our site, Alex read 3 Way to Justify Recruitment Spend & How to Write an Effective Job Posting. She filled out our Job Posting Pricing Request Form. 2 weeks later Alex signed a contract for $10K including Jobs, DJR, Branding, and Profile. Alex continues to consume content on our site with a Pardot Score of 209 vs. the Enterprise average of 9.
  • 50. Success Story Retargeting Ad Closed Won for $80K Engaged with Site Content Company Event
  • 52. Can You Answer Yes to These? ● Do you have team and leadership buy-in? ● Do you have a dedicated team member to manage the process? ● Have you filled your data gaps? ● Have you tested and optimized your first touch model? ● Do you have a solid data management & infrastructure in place? ● Do you have a consistent campaign process? ● Can you tell stories and take action with data?
  • 53. Moving to Multi-Touch Options ● Salesforce: Linear Model is Available ● Tableau / Domo: Custom Coding Required ○ Linear - Custom - Time Decay - Position Based - Algorithmic Other Vendors...
  • 54. Vendors We Reviewed Bizible Terminus Conversion Logic Allocadia Convertro Full Circle CRM Internal Teams DemandBase Google360 (Adometry) Salesforce CRM Domo Tableau VisualIQ Oracle Hubspot Pardot Marketo Act-On Eloqua
  • 55. Moving to Multi-Touch Recommend working with a 3rd party. Which vendor depends on your goals. Attribution is complex, it will continue to increase in complexity, and you should focus on insights and taking action from your data, not building reports.
  • 56. Benefits of a 3rd Party Solution Save time & Internal Resources Benefit from their experience & need to stay competitive Improved UI performance Added insight & actionable recommendations Adds credibility to your numbers Spend more time consuming and taking action vs. building Access to new and out of the box reporting
  • 57. Next Steps Late: Set Goals & Get Leader Buy-in Middle: Single touch model. Build Support. Early: Move to multi-touch. Super Early: You shouldn’t be here. – Tell good stories and evangelize the value of attribution for the rest of us.
  • 58. Adam Kirby Director of Marketing Mediacurrent Open source development and digital marketing agency @akirby310 /in/adamkirby310 email adam.kirby@mediacurrent.com Thank you!