The best marketing teams have risen above being a cost center and moved on to become a revenue driver. Making that transition is no easy task in today’s business environment of shrinking marketing budgets and extraordinary channel noise. Organizations need a clear understanding of what channels and programs are performing to allocate budgets correctly. Download our SBI Magazine Special Issue: Revenue Attribution.
Judging success purely on open rates, website visits, content downloads, or even marketing-qualified leads no longer cuts it with your peers in sales—and certainly not in the corner office. To truly measure impact and value, you must demonstrate how marketing’s contribution to revenue ties back to the collective and individual touch-points in the buying process. That means pushing the envelope with industry-leading strategies and technologies.
Measuring Revenue Attribution
A dizzying array of tools is at your disposal—as many as 3,874 marketing technology solutions, according to chiefmartech.com. But few of them allow you to track, or even predict, marketing’s contribution to revenue. Tracking revenue attribution with standard CRM reporting or even marketing automation platforms can be difficult if not seemingly impossible.
It’s high time to rise above spreadsheets and reports that are cobbled together from disparate systems. Here’s a snapshot of two tools that can help you effectively measure marketing’s impact on revenue. Both platforms are designed to integrate with existing CRM and marketing automation systems, and provide reporting and analytical power that in the past have been all but absent in the B2B marketing space.
BrightFunnel: Plan Future Actions to Optimize Revenue Creation
BrightFunnel has taken a step beyond reporting results and attributing revenue to marketing efforts. It also aids in planning future actions and optimizing for revenue creation. By evaluating KPIs such as funnel velocity, conversion rates, and average sales price, BrightFunnel harnesses the power of predictive analytics to make the most of campaigns and tactics.
Bizible: Track Revenue Back to Exact Marketing Sources
Bizible is a marketing analytics technology that allows companies to accurately track revenue dollars back to the exact marketing sources along the buyer’s journey. Easily measure and optimize marketing by return on investment.
Realizing the Benefits
Technology is never a replacement for good strategy and flawless execution. Know you’re signing up for disciplined tagging of campaigns across all channels to realize the benefits. Technology tied to great strategy and execution can bring forth meaningful insights into the total marketing impact.
Would you like a hand with revenue attribution to make marketing more scientific? Plan a workshop with the SBI team of marketing experts in Dallas at The Studio, SBI’s multimillion-dollar, one-of-a-kind, state-of-the art, executive briefing center. The immersive sessions accelerate your adoption of revenue attribution and put you on the right path with a solution and implementation plan.