Have you ever gotten so excited by a pitch for martech software that you immediately circulated it around the marketing team, and then brought it to the CMO...only to have them ask you to prove the ROI of the new tech? At that point, you realize that the marketer or salesperson either never offered or wasn’t able to put numbers behind their marketing messaging.
We understand that feeling.
That’s why we built the Bizible ROI Calculator -- an easy way to quantify the massive revenue impact that a smart B2B marketing attribution solution can make.
By simply inputting a few numbers (e.g. monthly paid media spend), you’re able to see the dollar value, as well as the ROI, of marketing attribution.
How Does Attribution Create Value?
One of the primary benefits of a smart attribution solution is the ability to identify how marketing campaigns and channels are performing on a revenue basis. This allows marketers to be able to then reallocate the budget towards high performing efforts and reap the benefits.
Marketers who are not using attribution, then, are actively losing potential value -- marketing spend is being wasted on underperforming efforts.
Take paid search, for example. We’ve seen that within just one month, customers of Bizible’s attribution solution see an ROI increase of nearly 50% because of the ability to identify underperforming campaigns on a revenue basis.
The ROI Calculator will help you understand -- using your own data -- how much you can save by reducing wasted spend, as well as how much value you can add by reallocating you and your team’s time and budget to better performing initiatives.
Building the Business Case for B2B Marketing Attribution
Understanding the ROI value of attribution is one thing, making a persuasive argument is another.
Once you’ve come to the understanding that marketing attribution is critical to marketing success and that advanced marketing attribution creates more value than basic-level attribution (e.g. single touch, doesn’t connect to the CRM), the next step is to build a persuasive argument for it to the C-Suite, and in particular, the CMO -- a.k.a. the business case.
Unlike the myriad other marketing tools where the return on investment is tough to prove, the entire point of attribution is to prove the value of your marketing by connecting it to revenue. It’s not just another marketing expense, it’s an investment. In fact, it actually helps marketing teams transition their perception from a cost center to a revenue center.
It allows marketers to save money by identifying wasted spend and gives insight on opportunities for growth -- all optimized based on revenue.
Specifically, attribution provides value by improving the following areas:
- Employee efficiency (e.g. identifying the best content areas)
- Paid Media Advertising (e.g. identifying effective keywords)
- Events & Webinars (e.g. identifying conferences that are truly driving business value)
- Marketing Automation (e.g. connecting and optimizing lead nurturing sequences based on CRM data)
Marketing attribution also improves intangibles, like the relationship between the sales and marketing team (e.g. aligning the messaging of outbound calling with marketing efforts, shared goals). It also helps the organization be seen as a modern, forward-thinking company that’s using the most advanced, sophisticated data to optimize the B2B customer journey.
Want an in-depth description of how attribution improves these areas? We built an easily digestible and shareable three-page guide designed to help you sell through to your marketing team. Download the guide to Building the Business Case for Advanced B2B Attribution below!