In the digital era which we currently find ourselves in and with the rapid development of technologies and systems, attribution is still a significant challenge for marketers.
According to a survey we recently conducted with B2B Marketing, 30% of respondents placed attribution throughout the marketing-driven customer journey and sales outcome as being one of the top three marketing challenges. It appeared alongside customer acquisition, filling the top of the funnel with a higher volume and better quality leads and ensuring sales converts its opportunities.
Our survey also revealed that attribution is the number one priority for B2B marketers when it comes to the focus of their marketing programmes in terms of new prospects.
Mapping touchpoints and everything in between
As challenging as it might be, attribution plays a pivotal role in helping marketers map their multiple touchpoints and everything in between. But this is only possible if they’ve tapped into the power of predictive marketing. (For more information about the role of predictive marketing in the world of B2B marketing, read ‘What does predictive marketing mean for B2B brands?’)
We all know that the customer journey is key, but if you haven’t built your systems so that they’re centrally connected to a data management platform, you cannot join up the dots, fully understand buying behaviour or have your prospects’ and current customers’ journeys mapped out. And without the ability to track and capture data from your leads and customers, you won’t have the data you need to fuel your predictive marketing. As a result, it will be virtually impossible for you to see which of your channels and activities are delivering the best results and what the end game is most likely to be.
Finding the optimum solution
Attribution is very much linked to battle gaming, which you can read all about in this blog. You can pull levers up and down within your data management platform to find the optimum situation – generating the maximum return on your marketing investment with minimum resource. It’s what we did for one of our clients, global giant, Pitney Bowes. We compared their calling with their email and their programmatic activity and boosted their sales pipeline by $1.5 million in just 60 days. You can find out how we did it from Pitney Bowes former VP Marketing, Andrew Ford, here.
About the author
Jon Clarke is the CEO of Cyance and one of the guest speakers at B2B Marketing’s Ignite event on June 22. Jon will be discussing the subject of this blog in further detail, plus other key predictive marketing issues, at the forthcoming conference.