B2B marketing attribution is an established piece of martech in today’s technology landscape, but marketers are left wondering about the comprehensive ROI of an attribution solution. How much value would it really provide?
We don’t claim to speak for all attribution software, but we think Bizible’s attribution solution has proven to yield exceedingly high return-on-investment.
And we’re not just saying this about ourselves. The Total Economic Impact™ Study of Bizible is a commissioned study conducted by Forrester Consulting on behalf of Bizible. Forrester interviewed Bizible customers and created a representative “composite organization” by averaging all the customers’ costs and benefits from over a three-year period.
Based on the study's findings, we created the following infographic. Here’s what we discovered about the ROI of Bizible’s attribution solution.
I. 734% Return On Investment
Bizible customers reported a 734% return on investment, which takes into account the total costs associated with the marketing attribution solution. This high ROI value demonstrates Bizible’s ability to give marketers the data they need to make informed decisions that optimize spend, eliminate waste, and move the company toward their KPIs.
According to the commissioned study conducted by Forrester Consulting on behalf of Bizible in December 2016,
“Prior to Bizible, interviewed customers were using a variety of homegrown, error-prone, and resource-intensive systems and business processes to consolidate and manually analyze the historical data from their fragmented marketing channels and campaigns, leading to reactive and misinformed marketing decision making, labor inefficiencies, and inefficient and ineffective marketing spend.”
II. Payback in Less than One Month
The TEI study defined the payback period as,
“The breakeven point for an investment. This is the point in time at which net benefits (benefits minus costs) equal initial investment or cost.”
Customers break even on their investment within an exceptionally short amount of time. The costs of purchasing the product and onboarding the system are recouped within 30 days. On average, customers see major results early on based on the data Bizible generates and the actionable insights practitioners are able to immediately put to use.
III. Total Benefits (Present Value) of $4,737,895
The “present value” calculation shows the risk-adjusted benefits associated with Bizible marketing attribution. The costs of onboarding, maintaining, and running Bizible were weighed against the total benefits the composite organization realized from adopting the solution.
According to the TEI study,
“The composite organization experienced the following risk-adjusted benefits, totaling a present value of $4,737,895 over the three-year analysis.”
IV. 43% Increase in MQL Volume
Bizible marketers significantly decrease wasted spend on unqualified leads, due to their ability to better target qualified leads based on real-time customer journey data.
The TEI study explains that,
“By improving the organization’s marketing lead quality, the organization improved the percentage of marketing leads that became marketing qualified leads from 35% of all marketing leads to 50% of all marketing leads, which is an improvement of nearly 43%.”
V. $18.3 Million Increase in Revenue Contribution
When customers begin using Bizible, it leads to a drastic increase in marketing contribution to revenue. On average, the marketers studied were able to demonstrate an additional $18.3 million in marketing-generated revenue after implementing Bizible.
The Total Economic Impact™ study states,
“Using Bizible, organizations were able to increase marketing’s ability to identify, calculate, track, and report on cross-channel, multi-touch marketing attribution and performance throughout the sales cycle, improving marketing decision making, while better demonstrating marketing’s contribution to the organization’s key performance indicators (KPIs).”
VI. 36% Decrease in Cost Per MQL
Due to the availability of marketing performance data, Bizible customers are able to decrease their cost-per-MQL by an average rate of 36%. Less money spent while continuing to generate high quality leads is a valuable goal for any marketer; Bizible’s attribution solution makes it possible.
According to the TEI study,
“By acting on the real-time marketing performance data and insights delivered through the Bizible multi-touch marketing attribution solution, the composite organization reduced its cost per marketing qualified lead by 36%.”
If you’re interested in further details and insights from The Total Economic Impact™ of Bizible, you’re more than welcome to download the comprehensive study. Take a look at the facts and figures behind the stats and see the impact of Bizible’s attribution solution.