When my father was in college, he had a friend who was blind. A friend made a deal with him – he bought a car that they could share. Prey? When my father’s friend wanted to date the girl, my father relinquished other responsibilities and was assigned a driver. Sometimes they went to an empty place for fun and his friend drove around – he flew around at a frivolous speed, but his friend shouted and shouted to prevent the disaster.
Although we expect such risky behavior at university (based on what we have heard, of course not on the basis of our own experience), going blind is by no means the management of the marketing department. Fortunately, today we have access to the marketing attribution software needed to see clearly which channels, content, and campaigns are working … and which aren’t.
KPIs are important
When we start a career as a distributor, we tend to rush into the accelerator pedal and rush directly to driving programs and campaigns. We learn to use marketing channels. We learn about content, creativity and CTAs. Over time, we master marketing metrics such as views, clickthrough rates, and marketable sales leads. We still miss something. We read a lot of things, but none of them are really interested in the CEO – the pipeline and the revenue.
For most, our first step in light was one-touch assignment, which CRM often allowed. We could now assign a revenue credit to one campaign that appears to trigger an important event, such as a product purchase. Useful, but also unrealistic in the context of a B2B shopping trip with tens or even a hundred or more customer contact points. So, about ten seconds after using one-touch attribution, we realized its limitations in B2B marketing. We still flew dark.
We needed visibility throughout the journey – every buyer touch point, every channel, every content asset, and every campaign that changed (or didn’t change) anything. Only with this complete picture can we hope that we will optimize our marketing set at every stage of the purchase in order to grow the business. And, of course, we had to be able to do it in a modern and automated way that does not involve spreadsheets and weekends.
The challenge of multi-touch assignment
Marketo (now Marketo Engage), automation providers began to offer ways to meet this multi-touch attribution challenge. Over time, Bizible emerged as a leading attribution solution for B2B marketers. Bizible now maintains this leadership position as part of the Adobe Experience Cloud, where you can take advantage of unique integrations with Marketo Engage and other Adobe software.
So what is the value of flying blind? What is it worth knowing what works and what doesn’t? As it turns out, the value is huge. We see this with our Bizible customers every day, and as we work with prospects to develop financial businesses for Bizible, we regularly arrive at ROI figures that are as convincing as you can find for any type of software. That makes sense when you think about it. As marketing teams grow to maturity and have done well in the mechanics of engaging buyers, there is really nothing more valuable than knowledge to help you tune that engagement for maximum impact and return on investment. As one Bizible customer put it succinctly, “Bizible helps us understand where to put our marketing dollars.”
Monetary value of investment in allocation software
While we love to share customer success stories and create business cases with individual Bizible prospects, we know that many marketers are looking for a more general description of the potential monetary value of an investment. attribution software. To this end, we commissioned a full economic impact study (TEI) from Forrester. Forrester’s TEI methodology provides a proven, industry-recognized approach to valuing technology investments. The results are based on customer interviews and Forrester’s own independent analysis and expertise. In this case, Forrester interviewed five Bizible customers, ranging from a US company of $ 50 million a year to a global company of $ 52 billion.
So what did they find? What is the return on investment in today’s B2B marketing attribution? Forrester found an almost fourfold return on investment in Bizible with a payback period of less than one year. Marketing teams were able to earn 15% more qualified leads and millions of dollars incrementally and revenue while saving time with Bizible automation. In the meantime, the marketing costs of the sales opportunity were reduced by 17%, freeing up money for even greater growth.
Forrester TEI from Bizible
After all, it’s no wonder that many B2B marketing executives see Bizible as part of a book designed to achieve their professional success. While flying into the dark can be exciting, every marketer and marketing team needs time to move on. Those who wonder how they ever did their job any other way. B2B marketing attribution software is available today to understand the entire B2B buyer’s journey and link marketing to the pipeline and revenue. With the new Bizrest Forrester TEI study, marketers now have a powerful new way to communicate this value to their business stakeholders and budget owners.