At Bizible we often get asked, “What are the levels or phases of marketing attribution?”
Because we’re the #1 B2B marketing attribution provider, we’ve been able to look across our customer base and a number of reports from SiriusDecisions. The result is the creation of the following maturity model.
Measuring revenue at any organization is incredibly important. You’ll make better decisions about your marketing, secure a seat at the revenue table with sales and the CEO, and grow the company faster.
Marketers at higher levels in the maturity framework are leveraging marketing attribution data and insights more effectively. While getting to a high level is the ultimate goal, try and move up a level every 3 - 6 months depending on where your company is at and how large it is.
Let's dive right into this framework. Best of all, it's not overly complicated.
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Level 1: Awareness of Need For Revenue and Attribution Data
This is all about collecting data for the first time. It’s a huge step! You’ve recognized the need but not yet taken action on the data. Plan on a sales cycle of data collection and another sales cycle to start operationalizing the data.
Level 2: Growth In Adoption of Attribution Reporting
At this level the most basic level of reporting is being used but at least a dollar amount is being assigned to marketing.
The average B2B deal has more than 100 touchpoints and in this stage you’re assigning 100% of the credit to just one touch. You’re likely reporting out of marketing automation system or Salesforce campaigns.
Reaching this level is more of a cultural shift as performance will not change significantly. The recognition of assigning revenue to touchpoints is there. Sometimes companies skip this level altogether and immediately go to Level 3.
Level 3: Assigning Revenue To All Marketing Touches and All Marketing Channels
This intermediate level is associated with assigning revenue attribution to all marketing touches throughout the funnel, including marketing touches during sales stages. Furthermore this covers all marketing channels.
In addition, the entire marketing team is using attribution reporting. Getting to this stage usually requires a dedicated attribution provider.
Level 4: Customizing Attribution Reporting and Connecting To Other Data Sources
The advanced level is about taking the attribution data and reporting and customizing it deeply for your organization.
This includes custom attribution models, unique reporting and dashboards in BI systems, and merging attribution data with other data or systems (e.g. web analytics or finance tools).
Level 5: Strategic Decision Making Based On Marketing Attribution
Very few companies are currently at this stage. Attribution by nature measures the past. The only reason to measure the past to is to inform the future. This level is using attribution data to strategically plan for the future across all areas and levels of marketing, such as with our Revenue Planner product.
It provides the ability to use revenue, touchpoints data, and predictive modeling to make strategic decisions.
There you have it, a short but effective way of mapping your journey towards marketing attribution maturity. Learn more about revenue attribution by reading the ebook below.