It’s that time again—long weeknights, multiple cups of coffee, and various unpleasantries thrown at Excel as marketers scramble to pull together our end-of-quarter reporting, right?
Trying to pull together the marketing metrics that matter at the end of each quarter can be very frustrating and daunting. But what if you didn’t have to stay up late to track down your marketing ROI? What if you knew exactly which marketing campaigns did well and which ones missed the mark in just minutes? Multi-touch attribution can make this a reality.
If you want to become a revenue rockstar at the end of each quarter, here are some best practices to follow.
Measuring Marketing Impact by Quarter
Starting at the top—it’s important to know how much your marketing has sourced and influenced your overall pipeline and revenue. Historically, marketers have had to pull this data from Salesforce and their marketing automation platform, which can be tedious and often incomplete. The main problem with this method is that Salesforce is only able to capture and report on the first and last marketing touch points that occurred with a prospect. But since a buyer’s journey is complex and nonlinear, this style of reporting wouldn’t be able to accurately tell you how much of your marketing has actually impacted your quarterly pipeline and closed deals.
With multi-touch attribution, you can easily go into the BrightFunnel dashboard and see quarter-over-quarter, how much your marketing has impacted revenue and the number of marketing deals won. Not only that, but you can see historically how much marketing has influenced past quarters to see how this quarter compares.
But let’s say your marketing team rolled out Account-Based Marketing this quarter. How can we see which target accounts converted this quarter? How can we also measure the effectiveness of account-based vs. outbound marketing?
In this example, we can see that Company A had $2 mm in new pipeline from their ABM target accounts and that 100% of those target accounts were marketing influenced! That tells us that their Account-Based Marketing campaigns were effective this quarter.
Measuring Campaign Effectiveness by Quarter
End-of-quarter reporting at the campaign level is an essential tactic for any B2B business to make informative decisions on where to maintain, improve, or increase their spend and efforts. Without a multi-touch attribution platform, it can be time-consuming to compile reports from your marketing automation platform to see which programs were the most effective.
Speaking as a former customer (turned employee) of BrightFunnel myself, pulling my end-of-quarter marketing reports was always a nightmare. Not only did I have to set up complicated workarounds in Marketo to see how many leads had originated from social media, but I wasn’t able to easily see which of those leads belonged to accounts that had converted within the quarter.
However, with multi-touch attribution in BrightFunnel, that all changed. Attribution reporting by quarter is actually built into the platform and it takes just seconds to see how much my marketing campaigns have affected pipeline and revenue. Not only that, I can see based on our multi-touch attribution algorithm which of my marketing campaigns were the most effective. In the example of Company B’s marketing campaign, we can see that one of their most successful campaign groups for the quarter was their website.
We can even get granular within that campaign level to measure some key end-of-quarter metrics like how many leads, MQLs, opportunities, and deals were touched by our website and other marketing campaigns.
Taking another look at Company B’s funnel, we can see that webinars were the most effective campaign for the quarter. By drilling in, we’d be able to see which specific webinars lead to the most high-quality leads so that we can repeat that marketing program for continued success. With a tool like BrightFunnel that can easily measure the effectiveness of our marketing programs, we’re able to see where to optimize our spend, and which channels bring in the most high-quality leads.
Stage Analysis by Quarter
Last but not least, to rock your end-of-quarter reporting, it’s important to find out how many leads and opportunities landed in each stage of the funnel throughout the quarter. Stage Analysis within BrightFunnel is the easiest way to compile a lead-to-opportunity inventory report.
From this example of Company C, we can see how many leads/contacts entered the “known” stage over the course of the quarter and how leads progressed from stage to stage. We can see that this company has a strong progression from Engaged lead to MQL, with a 47% progression rate. And if needed, we can even get granular with these stages to see which source campaigns are pushing those leads from stage to stage.
By relying on this set of reports, which are easily accessed from within BrightFunnel, your end-of-quarter reporting will turn a daunting task into an informative exercise that helps marketers answer how effective their campaigns have been.