Uploaded byFull Circle Insights
How-to Guide: Building a Solid Case for Attribution to the CMO
The document outlines the importance of revenue attribution for marketing executives, addressing common objections such as confusion over its purpose and concerns about costs. It highlights how effective attribution connects marketing campaigns to revenue, improves insights into campaign performance, and helps optimize spending. Key features of a successful attribution solution include native CRM integration, the ability to analyze individual deals, and adaptable attribution models.
More Related Content
Similar to How-to Guide: Building a Solid Case for Attribution to the CMO
How-to Guide: Building a Solid Case for Attribution to the CMO
- 1. Building a SolidCase for Attribution to the CMO
- 2. 2 Your Presenter Feng Hong ProductMarketing Manager Full Circle Insights • Finance and analytical background (recovering spreadsheet addict) • Ex-venture capital and ex-investment banking • Adtech and martech industry focus • Has a love for inbound marketing and audience measurement
- 3. Agenda • The GrowingFocus on Revenue Attribution • Top CMO Objections to Attribution “What’s Attribution?” “Sounds Like Simple Math, Just Do It Manually” “Need the Money for Programs, Not Process” • Getting to “Yes” on an Attribution Solution • Key Takeaways • Q&A
- 4. Marketers Increasingly Turningto Revenue Attribution 4 Marketers investigating solutions to: • Gain insights into campaign performance • Optimize marketing spend and mix • Ultimately drive revenue growth (1) AdRoll, “State of the Industry Report”, Jan. 2016 In 2015, 84% of marketers believed attribution was very important to success, an increase of 140% from 2014.(1) Measuring campaign performance is the biggest weapon for gaining confidence behind marketing spend
- 5. The Top 3Objections to Attribution 5 ? “What’s attribution? And why do we need it?” “Sounds like simple math. Can’t you just do it all manually?” “We need to spend our budget on programs, not processes!” 1 2 3
- 6. Objection #1: Don’tKnow What It Is Attribution is the way to connect campaigns to revenue in order to measure the performance of our programs. 6 1 What’s attribution? And why do we need it?
- 7. The Problem AttributionSolves 7 Company Deal Size Campaign Campaign Type Acme Co. $5M June Newsletter Event Biggums Glaze $5M Top 10 Reports Webinar Casings Inc. $5M March Newsletter Event DeSandro Co. $1M Learn About Ads Webinar Everette Tents $1M What’s Your Channel? Facebook Ad Firenze Group $1M What’s Your Channel? Facebook Ad Garbanzos Inc. $1M Learn About Ads Webinar Hermann Corp. $1M Learn About Ads Webinar Event, $10M, 50% Webinar, $8M, 40% Facebook Ad, $2M, 10% Attributed Revenue by Campaign Type 1
- 8. Objection #2: YouCan Do Without It Attribution is more than just math. It’s data integration, tracking, and automation that ensure a true view of performance. 8 2 Sounds like simple math, can’t you just do it all manually?
- 9. Automated Allocation ofRevenue 9 2 A real attribution solution that integrates fully with your data saves hours of manual work and provides confidence in its accuracy
- 10. Objection #3: ItCosts Too Much With attribution, we’d be able to spend our money on the campaigns that truly work. 10 3 We need to hit our marketing numbers. We should spend our budget on marketing programs, not marketing tools.
- 11. The Numbers, WithoutAttribution 11 3 Company Deal Size Deal Type Campaign Type Ace Matter Inc. $5M Large Event A Bearings & Keys $5M Large Webinar A Cairo Trucks $5M Large Event B DiDonato & Sons $1M Small Webinar A Essence Corp. $1M Small Facebook Ad Funazze Inc. $1M Small Facebook Ad Grokka Palace $1M Small Webinar B Houston A.I. $1M Small Webinar B Total $20M Q2 Closed Deals, Keeping Q1 Campaign MixQ1 Marketing Campaign Mix Event, 33% Webinar, 33% Facebook Ad, 33% Campaign Mix (by Number of Campaigns)
- 12. The Numbers, UsingAttribution 12 3 Company Deal Size Deal Type Campaign Type Ace Matter Inc. $5M Large Event A Bearings & Keys $5M Large Webinar A Cairo Trucks $5M Large Event B DiDonato & Sons $1M Small Webinar A Essence Corp. $1M Small Facebook Ad Funazze Inc. $1M Small Facebook Ad Grokka Palace $1M Small Webinar B Houston A.I. $1M Small Webinar B Total $20M Company Deal Size Deal Type Campaign Type Ace Matter Inc. $5M Large Event A Bearings & Keys $5M Large Webinar A Cairo Trucks $5M Large Event B DiDonato & Sons $1M Small Webinar A Duvatto Clarke $5M Large Event C Grokka Palace $1M Small Webinar B Houston A.I. $1M Small Webinar B Total $23M Q2 Closed Deals, Keeping Q1 Campaign Mix Q2 Closed Deals Using New Campaign Mix Without campaign mix changes (informed by attribution insights), this company would have left 15% revenue growth on the table!
- 13. Getting to “Yes”on an Attribution Solution Based on our company’s needs, I’ve considered the following key features: • Native integration to the CRM • Ability to examine each deal • Multi-touch and custom models 13 Alright, I’m convinced. What’s the best attribution solution? (and show me you’ve done your homework)
- 14. Key Feature #1:Native to the CRM (Salesforce) 14 Sales Marketing ServiceFinance Staying in your sales system of record ensures data integrity and uniformity
- 15. Key Feature #2:Drill-Down Into Each Deal 15 Look for the ability to “double-click” into your attribution reports to provide deal forensics
- 16. Key Feature #3:Multi-Touch, Tweakable Models 16 1) Out-of-the-box attribution models hit the ground running 2) Tweakable models future-proof your attribution models
- 17. Takeaways for MakingYour Case 17 Appeal to the risk-averse and results-driven desires of your leaders, particularly using numbers Attribution helps bridge key gaps in driving the optimal marketing mix and company growth, so learn to articulate these benefits Show that you understand the nuances of an attribution solution that address your specific needs Understand the Objections and Address with Benefits Know the Gaps that Attribution Fills in Prove You’ve Done Your Buyer’s Due Diligence
- 18.