Account Based Marketing Attribution

1. Account Based Marketing Attribution The results of ABM's procedure from traditional demand generation tactics have made a huge difference in the B2B space - and for the better. But we have made a lot of progress in our marketing journey and the journey of B2B clients has become more and more complex as we progress. There are more channels available (online and offline) for sharing, and likewise more devices for sharing, which makes it difficult or nearly impossible for marketers to track their customers' journey. This is where account-based marketing referral can help. Doing account-based marketing without attribution is like taking a goal without a specific goal that you cannot validate. It is only accurate if you do not have the correct data attribution for ABM. The key is to see that a buyer today is never a single person / individual advancing along your funnel, but rather a group of decision makers, with different vulnerabilities that we compile into accounts. And marketers cannot be effective if they are tracking "leads" rather than tracking accounts through the funnel. Why is account-based attribution important? Account-based attribution is a technique for organizing data. It's about linking your efforts directly with profits so you can optimize the right results. Tweet this! In most B2B organizations, the marketing team and the sales force have their separate statements, and the two rarely overlap. But this needs to change. Your marketing team should pay attention to sales data because it holds the ultimate key to success - revenue. You want to be able to grow your pipeline marketing, which is the expansion of all stages of the funnel, rather than focusing on just one phase of it. By using a full-touch / multi-track referral analysis to measure the ROI of their efforts, ABM practitioners can make better decisions regarding their budget allocations. With sprawling competition and tight budgets, marketers are asked to show measurable results i.e. data to show that marketing is doing its job and getting better every day. In this article, we bring you 5 reasons why your ABM efforts could fail on the face without the aid of attribution.

2. 1. Track your marketing and sales enablement efforts The reason why full-path referral is considered the holy grail of ABM is because marketers focus more on the bottom of the conversion funnel. Marketing closely monitors and cares about the opportunities that will convert into customers, and spends a significant amount of time and invests in sales-enabling techniques to close them. By adopting full path referral, ABMers have the ability to see clearly in the final stage of the funnel, which a W-shaped multi-touch referral cannot provide. A full referral is the next stop for marketers in their B2B tech effort. When multi- touch tracks first touch, convert leads, and touchpoints to create opportunities across the buyer journey, full referral helps marketers understand touch points in the bottom funnel that are most effective in converting opportunities to customers. Often times, the portion of the "opportunity" to "closing the customer" is laden with an inconspicuous series of content downloads, outgoing calls, development emails, sales guarantees, and personal presentations. Adoption of a referral can help 2. Multi-channel assignment makes a big difference Having multiple marketing channels (both online and offline) calls for universal channel referral so we can determine the impact of every customer interaction from search keywords to conference booth demos. Nowadays, marketing automation, offline marketing, and simplified referral forms like web analytics will not solve it. Understand this - how are you supposed to allocate marketing budgets without an exact comparison between online and offline channels like conferences? Maybe you're working twice as hard and investing a higher return on conferences compared to AdWords; Without multi-channel attribution, you'd never know. Omnichannel referral allows marketers to see and evaluate their efforts from one unified lens - the same way it will test their target audience. According to Engagio, “Advanced referral solutions allow offline hotspots to easily track and refer revenue credit through integration with CRM, where marketing reports are uploaded offline.”

3. 3. Optimization of paid media and budget allocation for campaigns and channels The primary benefit of referral is that it links everything to return and profits; It is much easier to identify which functions work well and which areas need further improvement. Paid media consisting of paid social posts, display ads, and pay- per-click campaigns tend to have a strong impact at the top of the conversion funnel. Hence, it is important to have a referral solution to track this anonymous first interaction. For example, a potential customer comes to your website, reads an article or two, and leaves without submitting a form. They come back later with one of your display ads and participate in our next webinar. Usually, a display ad gets credit without tracking the anonymous first touch. However, in reality, it was the promoted social engagement that brought the potential customer to your site in the beginning. Opening this information will show you the paid media campaigns that attract the most leads and help you track which of those leads are converting. Most importantly, it will help you improve your spending. Likewise, the same should be done for campaigns and channels. If you are investing in new channels and want to know what works, B2B marketing referral should be your answer. Whether you run a direct mail campaign or outbound call, or have increased your spend on LinkedIn, attributing these activities to revenue will clarify a lot about your desired results. The calculation and attribution trips to demonstrate value and return on investment are very important aspects that complement the ABM stack. Hence, remember to focus only on attribution and account metrics, rather than lead-based ABM analytics. 4. Communication and matching between teams According to the Pipeline Marketing Status Report, 86.7% of marketers with a multi-touch referral model in place said they had a good relationship with their sales force. With the help of attribution, marketing teams can identify which parts have a direct impact on the bottom line. Sales and Marketing teams must work together to create and distribute the most impactful content that is not based on guesswork and links focus directly to ROI. It is profitable for both sales and marketing teams to work together in order to move leads down the funnel toward opportunities and eventually customers. Moreover, the attribution makes

4. it possible for everyone on board to speak the same language. Instead of reporting on page views and social shares, the marketing team, just like the sales team, can now report revenue numbers. 5. You can determine the true cost of each lead Wouldn't it be nicer knowing that you didn't just waste your money on something counterproductive? With account-based referral, marketing teams can determine which channels provide the highest quality to leads, and also reveal the cost per lead (CPL) for these channels. Typically, marketers set a single limit for CPL but leads coming from certain channels have a chance to convert at a higher rate and thus require a higher limit. One size doesn't fit all. Using one limit for all channels will spend a lot of money on low-quality leads and leads Concluding thoughts The TOPO Account-Based Technology report ranks account-based marketing and referral metrics as the second most important ABM category after account data. Attribution links sales and marketing efforts with desired results. For example, a team will not function efficiently if the marketing manager improves upon one metric and her team improves on another metric. Quickly review your marketing metrics and find out where your colleagues are taking responsibility. From there you can decide whether or not you want to go to an advanced referral solution. Not only does the sales and marketing function fit in