Fragmented Data, One Source of Truth: Why Datorama is Changing B2B
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Many organizations are struggling with siloed data across different technologies and campaigns, as well as constantly evolving customer demands. Datorama is a tool that lets you connect all of your marketing data in one place in real-time. Attribute revenue directly to campaigns. Make more data-driven decisions. Eric Dukart, practice director at Perficient, discussed how to leverage Datorama and get a single source of truth at your fingertips. The discussion included: -The most common challenges and demands regarding speed, transparency and marketing ROI -Industry best practices -Benefits of using Datorama -Real-world case study and demo -How to get started
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Fragmented Data, One Source of Truth: Why Datorama is Changing B2B
Editor's Notes
- Speaking Notes B2B marketing is now a data-driven and ROI focused function within the business. There has been a shift over the past few years from marketers focused on becoming data aware, to have disciplines defined, the technology to enable it and they are now working on staffing up to support it. Marketers today need real-time insights to make decision on their marketing efforts, They need to increase the visabllity of marketing data across the organization and know need to shift from campaign ROI to marketing attribution.
- Speaking Notes While B2B markterts know they need to do this, there are many obstalces in the way to achieve their strategy and goals There is no shortage of data but it’s in disparate systems and not connected to help tell marketers “what to do next”. While marketers know they need to be more data driven, many don’t have the skillset internally or even how to ramp up their teams expertise. Finally as we all know consumer demands are changing and marketers within the manufacturing industry have to shift quickly to align their corporate and partner marketing initiatives to create a seamless experience.
- Speaking Notes Perficient has been working to develop a solution to help enable marketers and there are four key components to help address these challenges. First is the use of a marketing intelligence solution like Datorama to bring together all of this disparate data and turn it into smart data that can be use to make data driven decisions. Second is organizing metrics into a key set of measures that keeps everyone focused on the most critical KPI. You have all seen this when you share out static marketing dashboards, colleuges will all pick their favoriate metric and in some cased even misinturpate what that metrics really is driving for the organization. We typically organize these around the buyer journey Next is the visualization of this data into storytelling dashboards. By using data visualization and narratives we help bring data and analytics to life for marketers and make it easier to interpret and share results. Finally, as needed we have a team of insight analysts that analyze our clients campaigns and add supporting context to those dashboards. The typical question we get from marketers when they look at dashboards is “what should I do next with this information”?
- Speaker Notes The foundation of our solution is built on Datorama, A leading marketing intelligence platform. With Datorama, you have access to most all the major marketing data sources and with many having prebuilt connectors. Next, core to Datorama is it’s Artificitate Intelligence engine that can analyze all that messy and unstructured marketing data and surface insights on your marketing channels, campaigns and content. Also we leverage Datorama as our cross channel reporting platform to bring together all your interactions and touch points with your customers.
- Speaking Notes When I started I shared the challenge that marketers face bring together all this disparate data. This is a visual of just some the key platforms we integrate. There are hunderstand more you could add to this visual There are many Business Intelligence tools out there and you can accomplish this with them but now there is this new category of Marketing Intelligence platforms that are designed to support this unstructured marketing data, they have prebuilt connects into many of these marketing platforms and the dashboards are designed for marketers.
- Speaking Notes Our insightDRIVEN solution has three key accelerators. They are the foundational processes to move marketings into a marketing performance measurement model. The first is Marketing Data Transformation. A framework to starts with a tagging strategy that is the foundation for creating the models to do marketing attribution. Next is Buyer Journey Optimization. It’s the use of Datorama and Marketing Cloud to create the analytics and dashboards for buyer journeys. We use analytics to help marketers make that shift from product based marketing to customer centric marketing. Finally is Marketing Campaign Attribution where we look at campaigns and marketing channel to show marketing attribution. Some of the key technologies we use to enable insightDRIVEN is Datorama our marketing intelligence platform, Marketing Cloud for automation and Google for analytics and tag management.
- Speaking Notes To start on the journey of marketing performance measurement, it starts with data. There are many challenges with marketing data. Marketing data is often messy, unstructured and lacks meaningful metadata for insightful analysis. The buyer journey is measured in numerous disparate data systems that are difficult to integrate. Marketers struggle to uncover insights using raw data and traditional business intelligence dashboards. But done right the outcomes are significant for marketers. Rich data sets that feed advanced analytics models. Data enriched with storytelling elements such as goals, benchmarks, trending, images and insights narrative. It all starts with tagging data. Because marketing data is typically unstructured data that means it does have clean ID that you can join so you have to create those keys. We do this by tagging all your channels, content, Conversion steps with any element you want analyze and measure. Next we need to aggregate and transform that data into some that is meaningful. We call these “smart Measure” and finally model it, typically along a buyer journey Finally to get to marketing attribute. This is the heavy lifting, the difficult work that most people don’t see, but critical to get the analytics and dashboards you as a marketer need
- Speaking Notes Next we bring that data model to life through our marketing intelligence platform. How we recommend making this data meaningful is to represent those key measures and metrics along a buyer journey. This transformation for marketers to move from product based campaigns to customer centric journeys has it challenges: The buyer journey in an indirect sales channel is captured in numerous disparate data systems that are difficult to integrate. Most solutions designed to connect anonymous engagement data with known customers store data in 3rd party data warehouses. Marketers need to be able to identify a buyer’s journey stage in order to create personalized experiences. When done right marketers get Robust reporting of buyer journey touch points and milestones in CRM. Marketing, sales and partners enabled to take action based on buyer behavior history. How we do It Smart Pixel connects anonymous engagement data into CRM
- Edits Here is a simple illustration. As you know no customer takes the same path in your buying journey. There are so many interactions they have with your brand that you need a unified way of organizing it. With journeys you can set key milestone to analyze a key metric that moves a customer from one stage to the next. Then in real-time analyze all the support interactions that support that. Whether that is channels, content, creative ore really any element you tag.
- Speaking Notes Finally because we have all this rich data tagged we not only can analyze buyer journey but do marketing campaign attribution. Anytime you have an indirect sales channels capturing revenue data and connecting it back to marketing efforts is very difficult. To accomplish this you must centralized reporting in CRM in order to connect asset data with campaigns. ***NOTE: We have another industry solution called partnerDRIVEN is that focused on partner relationship management and connecting leads to the partner order process. HOW we do it We have four accelerators we use to do this URL builder: A custom object and model inside your existing SFDC instance that allows us to create short URLs and capture all the needed meta tags and connect to the campaign ID Smart Pixel: A custom cookie used to collect all that anonymous data and connect not only to the lead record and again associate it to the campaign ID. This is how we connect engagement data, customer data, campaign and ultimately asset data together. Attribution Model: We have a attribution model that help jump start our clients looking to do marketing attribution. Each model is unique to or clients business we’ll get you 70% there. Insight Navigator: Finally our Insight Navigator solution built on top of Datorama that bring all of this together into what I demo shortly.
- Speaker Notes So how do you get started? Through our experience there are four steps to get you up and running. This is not all encompassing but a guide. Step 1 - Foundational CRM: Defined and implemented foundational business functions in your CRM for capturing Leads, Opportunities, Assets and Revenue data. This is the foundation because you want to organize all these interactions with the customer to the assets of yours they own and revenue data associated with those assets. That is the foundation to your attribution model. Step 2 - Campaign Hierarchy: Defined and implement a Campaign hierarchy in CRM, where each Campaign record is enriched with metadata attributes to allow for analytics across product lines, markets, channels, content and campaigns. Step 3 - Tagging: We created a custom Lightning interface enabling agency partners to dynamically create tags for marketing destination URLs, utilizing an external campaign ID related to Campaign records in CRM; web forms and web analytics tools were also configured to capture these tags and relay data to CRM upon Lead capture Step 4 - Attribution: Defined and implemented data model and calculations in Datorama to report on single-touch and multi-touch attribution metrics across the entire buyer journey (Impressions, Responses, Leads, Opportunities, Opportunities, Closed-Won, Revenue, etc.) Step 6 - Optimization: Work with our client to transform their campaign planning process to a customer journey based strategy. Now we can measure the effectiveness of marketing channels, content and offers cross the entire buyer journey in a single set of dashboards, which has resulted in a reduction in Cost per Lead of 90%
- Speaking Notes Our solution now allows marketers to connect marketing efforts across all their channels and connect it back to revenue to do marketing attribution. ***By now analyzing your efforts along a buyer journey, you can more easily adjust in real-time through the use of Marketing Cloud journey builder The solution also support ABM initiatives because as part of the data transformation we can tag channels and content by our ABM segments and report back through the campaign hierarchy. ** Specific to our clients that sell through dealers or distributors we also support marketing attribution through what we call “Expected Revenue Value”. We accomplish this by tieing insightDRIVEN into our PRM solution to help close the loop on revenue assignment within the partner community.