In B2B marketing, being able to contribute marketing activities to sales and revenue can reap big rewards. In the State of Revenue Marketing Report, Revenue Marketers reported over 2x the ROI compared to Demand and Lead marketers.
Our CDP already supports all the standard attribution models such as first touch, last touch, W, time decay etc’ out of the box. We even introduced a machine learning Chain-Based Attribution model earlier this year.
However, when we think of Attribution, it is actually a subset of a bigger ROI equation. Attribution is not that useful until your marketing organization is measuring and tracking ROI, but in order to do this, you first have to be able to contribute marketing activities across online and offline channels to revenue. Enter: our new Revenue Contribution dashboard!
CaliberMinds Revenue Contribution module gives marketers the confidence to know where to invest their next dollar:
- Instead of measuring individual touches, it measures conversion paths.
- Instead of giving credits, it contributes revenue to channels.
- Instead of reporting on outputs (visits, clicks, downloads), it reports on outcomes (Engaged Accounts, Opportunities, Revenue).
Why You’d Use This
The Revenue Contribution dashboard is for strategic marketing decision-making. Use it to:
- Optimize your marketing mix – by optimizing your channels and campaigns to the right accounts, you can improve your marketing ROI and accelerate the sales cycle.
- Spot marketing trends – by using the Channel Cohort report, you can spot marketing trends early and often, week over week, month over month, or quarter over quarter, across all your marketing channels.
- Enable sales – by using the Opportunity Detail report, you can have a more strategic account review with sales on what marketing and sales tactics are working for what kind of buyer persona in a specific account.
How To Use
1. Start with Channel Contribution to Revenue report
In CaliberMind, channels are your sources of revenue. The Channel Grouping is the default set of labels, with each label applied to a channel or group of channels that you want to see in your reports. This report tells us which marketing channels are driving account engagement, opportunities and revenue. You can filter by segment, account tier, region, and date, and see channel contribution By Date and Historic (compared to last month, quarter, or year depending on the filter applied).
2. Continue to Channel Detail report
This report gives us a more granular view on a particular channel, for example Content or Paid Social. We can see a list view of the top touches in the channel and how they contribute to specific opportunities, pipeline and revenue so we can optimize that channel or type of touch.
3. Drill down to Opportunity Detail report
Channel Detail is great, but what if you want to drill down to specific opportunities and key accounts to see what channels, touches and cadence are pushing this opportunity to the finish line across all buyers involved in the deal? For this we have the Opportunity Detail report.
This report shows you who is touching what in each and every key account! It can also contribute dollars to touches based on the attribution model you pick on the filter (default to W). Use it to get more tactical and also share it with your sales teams (can link in Salesforce) for key accounts review.
4. Get strategic with Channel Cohort report
Channel detail and Opportunity Detail are great reports for when you need to get tactical to optimize channels and touches and understand what is working on what accounts, but what about those times when you need a bird’s eye view on how your marketing channels perform over time? Is marketing getting better or worse?
Channel Cohorts is the perfect report for that! It shows you the trend vs. the details (though you can always drill-down…) on how your marketing channels impact the number of accounts engaged, pipeline created, and eventually revenue month over month, quarter over quarter, etc. – this is the one report our VP Marketing is using when reporting to the CEO or to our board.