How do B2B paid media marketers know whether their campaigns and strategies are up to snuff? Do they have the martech they need to compete in today’s advertising environment? Do they employ the strategies they need to optimize their ad spend? These are all questions that a scorecard like this can help marketers answer.
Each category progresses from preliminary paid media items to strategies, tools, and campaigns that are more advanced. There are no A-F scores. Instead, this scorecard is only meant to help marketers gauge where they're headed when it comes to paid media marketing.
An average score is between 20-35, and advanced marketers will score upwards of 55-65 points on this scorecard. The categories -- martech, medium, attribution, and measurement are four key areas that each paid media specialist should focus on. Three subcategories also serve to increase the depth of topics on the scorecard as well.
Download the scorecard by following the link or clicking the image below.
Marketing technology is the foundation upon which a paid media strategy is built. It generally begins with marketing automation of some type and progresses through media platforms, and other data-centric technologies.
The six martech items on the paid media scorecard are as follows:
- Marketing automation
- Media platform analytics
- Data enrichment technologies
- Attribution solution
- Predictive technologies
- Account-based marketing technologies
Each of these items are weighted according to their importance and/or difficulty to implement. These technologies form the basis for the various mediums of paid media advertising, represented in the next section of the scorecard.
By “medium” we’re referring to the various types of paid media advertising available. This includes traditional mediums, such as paid search and display advertising, but it also includes ABM paid media platforms that help to facilitate more targeted campaigns.
The items within this section include:
- Paid search
- Paid social
- Traditional media buying
- Account-based marketing platform
There are seven types of campaigns available to paid media marketers, and each one has it’s own level of specificity and complexity associated with it. Some types of campaigns require additional pieces of martech or different types of data tracking in order to enable their success. The seven campaigns listed in the scorecard are:
-- Persona-based campaigns
-- Keyword-based campaigns
-- Brand campaigns
-- Competitor campaigns
-- Interest-based campaigns
-- Stage-based campaigns (TOFU, MOFU, BOFU)
-- Account-based campaigns
An attribution solution is a critical piece of martech for any paid media manager. It comprehensively tracks all touchpoints across all channels and displays that information inside the company’s CRM. This creates a data environment that can apply across all channels, while still enabling data hygiene best-practices. This way, isolated ad platform data is no longer siloed, and each touchpoint can be compared to the down-funnel results -- namely, opportunities and revenue.
The most advanced attribution solutions are able to provide the user with multiple types of models that track touchpoint data across the entire funnel.
The scorecard items associated with an attribution solution are:
- Anonymous first-touch tracking
- Lead-create touch tracking
- Opportunity-create touch tracking
- Closed-won touch tracking
- Tracking of all middle touchpoints between journey stages
- Attribution data organized by account in the CRM
There are four types of attribution models that are commonly used by paid media marketers. They range from single-touch models (first-touch, lead-create, or last-touch) to complex full-path modeling systems that track touchpoints throughout the entire funnel, attributing revenue credit in a weighted fashion.
The four types of models used by paid media marketers are:
-- Single-touch attribution model
-- U-shaped, multi-touch attribution model
-- W-shaped, multi-touch attribution model
-- Full-path, multi-touch attribution model
Measurement is one of the pivotal roles of a paid media marketer. Without proper measurement and reporting practices, the only metrics you have going for you are near the top of the funnel. Void clear connections between the impressions/leads you generate and the revenue that results down the funnel, it’s very difficult to prove the value of an ad spend.
Furthermore, paid media marketers who are supporting an account-based marketing strategy have additional reporting needs because all of their results have to be tied back to a specific account list.
The types of measurement necessary for paid media marketing include:
- UTM parameters
- Lead-to account mapping
- Cross-channel analytics
- Touchpoint volume (engagement)
- Lead / account engagement scoring
- Predictive analytics
Cost and conversion metrics tend to be the paid media marketer’s go-to forms of reporting. While these are helpful, of course, there are deeper, more granular metrics that can be derived from the use of an attribution solution that tracks individual touchpoints and allows that data to be sorted, organized, and modeled in helpful, unique ways.
Types of metrics that paid media marketers should use include:
-- Cost per 1000 impressions (CPM)
-- Cost per click (CPC)
-- Cost per lead (CPL)
-- Cost per MQL
-- Prospect-to-lead conversion (on paid media channels)
-- Lead-to-opportunity conversion (on paid media channels)
-- Capable of calculating any/all of the following metrics:
Revenue by keyword
Opportunity by paid media subchannel
MQLs by campaign
Download the scorecard to see how your marketing strategies compare in all of these areas. Ultimately, the main goal for advanced paid media marketers is to connect all of their marketing activities to down-funnel conversions and revenue generation. This helps to prove value, optimize spend, and make better marketing decisions.