In today’s show, Sarah details how to apply the discipline of revenue attribution to marketing. Why this topic? CEOs, CMOs and CROs need to understand what marketing activities most effectively influence bookings. Once you can quantify those activities, you can then attribute revenue to them and better assess their value to the organization. This is the gateway to calculating ROMI (Return on Marketing Investment).
Below is a timestamped summary of the show segments and topics covered.
Segment 1: Revenue Attribution Value
- Definition of Revenue Attribution. minute 2:37
- The value of Revenue Attribution. minute 3:30
- CEO mindset about Revenue Attribution. minute 5:25
Skip to minute 2:41 to listen to Sarah’s definition of Revenue Attribution:
“When we look at that entire journey, it’s one that has so many different touch points and influencers along the way. That’s why communication, alignment, and consistency have to be established between the sales and marketing leadership. This is critical to the success of any revenue attribution investment…”
Segment 2: Revenue Attribution Process
- Integrating Revenue Attribution into your organization. minute 6:28
- Getting started. minute 8:45
- Best practices for closing the loop with sales ops. minute 10:17
Skip to minute 7:34 to watch Sarah discuss the talent function of Revenue Attribution:
“When I look at my team, I’m looking for analytically literate people. And what I mean by that is, they can report on the data but they can also tell a story and use it to create meaningful action plans that aren’t just a one-hit wonder. And so the talent piece is actually fundamental and foundational to everything you do with revenue attribution…”
Segment 3: Revenue Attribution Implementation
- Stage progression for implementing Revenue Attribution. minute 12:13
- What technology is required. minute 13:55
- Working with sales to achieve alignment. minute 15:56
Skip to minute 16:16 to hear Sarah give advice on working with sales to achieve organizational success:
“I want to be the ride or die marketing leader for the sales leader and I want them to feel like they can text me at any moment, and they do. I guarantee when I walk out of this studio I will have texts from our Head of Commercial Sales, Enterprise Sales and our Head of Sales. I want them to feel like there’s an open door to communicate and ask for things. And not just obviously at my level but every level on my team...”
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