Last year, Datapipe won first place in the Stackie Awards for the representation of its marketing stack. Regarding the stack, Scott Brinker of Chief Martech wrote, “This is a beautifully thought out marketing stack. It’s organized primarily by flow across the buyer’s journey, which keeps the customer in mind throughout its architecture… The synthesis of these different lenses into a cohesive design is remarkable.”
This year, although the stack has remained relatively the same, Datapipe made one small change that is transforming its view of Marketing’s impact throughout the sales cycle.
David Vogel, Digital Marketing Manager at Datapipe, says the company was happy with the functionality and coverage of its stack, but they wanted to improve the ability to track and attribute all marketing touchpoints to leads, opportunities and revenue within Salesforce.
For that reason, they implemented B2B marketing attribution.
Datapipe, a cloud management provider with a longer sales cycle, was relying on first-touch attribution to make decisions, but they knew that their single-touch model was undervaluing the nurturing and remarketing tactics used to progress leads through their funnel. This is known as model bias and it plagues marketers and decision-makers at companies both large and small.
To solve this problem, David began evaluating attribution solutions. Eventually, the team chose Bizible and made it the core of their marketing analytics and tracking.
“We now are able to measure the impact of all online and offline marketing touchpoints,” David said. “And, we use U-shaped and W-shaped modeling to fairly credit individual tactics for the leads/opps/revenue they’re driving. We’re in B2B analytics heaven.”
With U-shaped and W-shaped attribution models, a lead is tracked through the entire funnel, and a percentage of revenue credit is given to the major conversions along the way. For U-shaped attribution, 40% of revenue is given to the first touch and lead creation touch, with 20% divided among the touches in between. For W-shaped attribution, 30% revenue credit is assigned to the first touch, lead creation and opportunity creation touchpoints, with 10% allocated to the touches in between.
This helps marketing see its impact on the bottom line, while optimizing for the channels and content that converts the best.
As this year’s Stackies show, marketers continue to move toward multi-technology stacks instead of relying on a single platform. Although this allows for increased customization and functionality, it often leads to segmented tracking and patchwork reporting.
Say your LinkedIn data for the month shows you drove 5 customers, Google Adwords also says you drove 5 customers, but your CRM only shows 5 total customers for the month.
This siloed and inconsistent data makes it impossible for marketers to make confident decisions. Which platform do you trust? Do you allocate more budget to LinkedIn or Adwords? Problems like these are why it’s necessary to rely on attribution data as a single source of truth.
Datapipe highlights this nicely in the visualization of its marketing stack.
All website touches are tracked through Bizible, while offline touches are tracked through Salesforce campaigns. With Bizible’s Salesforce integration, the online and offline touchpoint data can be flowed together and tracked to resulting leads, opportunities, and revenue.
This means that every interaction is accounted for, conversions are accurately tracked, and the marketing team can now make confident decisions based on revenue.
To learn more about B2B marketing attribution, download the intro guide below.