PitchBook tracks every aspect of the public and private equity markets, including venture capital, private equity and M&A, in order to help their clients make informed decisions. But while the company lives in a sophisticated, finance-driven space, their marketing team was still using legacy attribution to track their marketing. This led to their team making misinformed decisions that restricted their marketing-powered growth.
“We needed to look at more than last touch for attribution”
PitchBook has a complicated marketing and sales system, with buyer journeys that can be long and complex, and involve multiple contacts and dozens of touchpoints for each account.
Previously, PitchBook was using last-touch attribution to try to understand marketing’s impact and the team felt the pain. “We needed to look at more than last touch for attribution, because our sales cycles can last months or even years, with many contacts on an opportunity,” says Libby Koebnick, Marketing Analytics Manager at PitchBook. They didn’t have a good idea of how each of their efforts actually impacted downstream pipeline and revenue.
“We are finally able to connect the dots”
To gain visibility into the customer journey and to understand which of their marketing and outbound sales efforts were truly working, they bought Bizible. “Bizible gives us full funnel attribution, with both online and offline touchpoints,” says Libby. And because Bizible also tracks their sales team activity, they are confident that they can see the whole picture.
Kevin Lissandrello, Demand Generation Marketing Group Manager added, “Bizible bridges the gap between marketing initiatives and sales won opportunities. This helps justify marketing spend and secure marketing budget for future years… We are finally able to connect the dots between all the money we spend on marketing campaigns and closed-won revenue.”
All of this data means they have visibility into real outcomes. “We can clearly see ROI using Bizible,” says Kevin.
“Our budget grew by 15%”
Bizible data helped the PitchBook marketing team prove their value to their executive team. Like all CEOs, PitchBook’s CEO was more interested in the bottom line than activity- or lead-based metrics that marketing teams typically bring to the table. “Utilizing Full Path attribution from Bizible, we could accurately show our executive team the revenue we brought in last year.”
The ability to accurately show marketing’s revenue impact made a big difference.
“Guess what, our budget grew by 15% for 2018."