Answering Business Questions Using CaliberMind Reports
- Answer questions using CaliberMind reports
- Q: Where should we be focusing our marketing spend based on the attribution data?
- Q: How do we measure pipeline attribution by industry/segment?
- Q: What content on a given product/industry is producing the best ROI?
- Q: Which campaigns on a given product/industry is producing the best ROI?
- Q: What inbound keywords, campaigns and channel engagement are producing the best ROI?
- Q: What combinations of tactics are providing the best ROI?
Answer questions using CaliberMind reports
Q: Where should we be focusing our marketing spend based on the attribution data?
When focusing marketing spend one approach is to identify the top and the bottom performers for a set of metrics or particular visualization.
The Pipeline Attribution by Stage trending view will provide insight into which months had the best win rate or highest volume of attributed dollars. Filtering to the top (or bottom) month can show what make of investments were responsible for that month. Using the the Campaign Performance table sort by Effectiveness or Win rate.
Breaking it down, questions to ask. Are there channels to remove from consideration to focus on variable activities or remove unwanted outsized influence? Attribution by Campaign Type provides a scale as to which selections to group or remove from the report based on the question trying to be answered.
Does a certain month have more "sourced" or "influenced" contribution? The summary widget or individual campaign performance table helps determine touches leading to attribution and where the fall in relation to opportunity created date, i.e. "pre/sourced" or "post/influence"." Are there common activities that contacts are engaging with pre vs post opportunity creation? Can we confirm that tactics intended to create awareness or progress opportunities are aligning with attribution?
Are there outliers we want to remove when looking at Attribution by Account or by Opportunity?
Bringing in campaigns with positive results outside of CaliberMind, like email metrics, web engagement or CRM conversion data points, and analyzing their attribution or engagement can be helpful in understanding total impact. Measuring these campaigns across channels over time can help to develop benchmarks for effectiveness at driving account engagement or creating attributable pipeline. Looking at top performing campaigns historically can shape guidance for future investments.
Q: How do we measure pipeline attribution by industry/segment?
Defining the prioritization of industries should focus on any unfulfilled gap in total addressable market and whether that segment is worth pursuing based on propensity to buy and current industry penetration.
Determine where the funnel needs attention. Marketing's aim is to get accounts from the Engaged status to Qualified Account. Bench marking or finding the average qualification rate over the last 4-5 quarters is an easy way to get to a starting point on whether a segment is performing or needs attention. Feedback from sales on common rejection reasons or stalled opportunities can help determine whether lower funnel conversion or lack thereof is a result of targeting.
Prioritize best converting segments. If Manufacturing has the greatest percentage of Marketing Qualified Accounts (MQA) or conversion to customers and still has the largest gap in addressable market there would be reason to prioritize that industry.
Prioritize top ASP (Average Selling Price) or LTV (Lifetime Value). If the Wholesale segment represents a greater return for a given customer than it may be worthwhile to invest more in targeting this industry, even when it may not be the best converter.
Q: What content on a given product/industry is producing the best ROI?
Driving engagement across products. Conversions and wins increase when marketing is engaged with an account or opportunity. The higher the attributed percentage of pipeline the more engaged contacts there are by product opportunity. Understanding which activities correspond to greater percentage of attributable pipeline will allow more targeted investment by product or program.
Product or Program level investments by attribution. The percentage of pipeline attributed by activity helps determine which campaign type are receiving the most engagement by product or program. This analysis could be extended to a target account or campaign list.
Assessing impact. Across the product or product family tables the Average (Attribution) per Campaign is a helpful measure for grasping the output of campaigns that have created engagement..
Timing. The break out by Sourced (Pre-Opp) and Influenced (Post-Opp) can help indicate which product opportunities have engagement early vs late in the sales cycle. Late stage engagement would be an opportunity to disseminate offers for sales enablement or target contacts tied to opportunities. Campaigns with attribution leaning towards pre or post opportunity creation will engaged different functional roles. This can help inform a content or email marketer's tactics and who they target and when.
ABM Approach. One of the measures of a successful ABM campaign is warming up or engaging a group of contacts or accounts . Activities like brand awareness measured by clicks or content downloads or progressing opportunities and contacts already converted can be reported on in CaliberMind. The average attribution per campaign is a helpful comparison metric, especially for program tactics targeting same group of accounts. Accounts attributed over accounts touched forms the efficiency metric at which a campaign can turn engagements into pipeline. For organizations that target buying groups or don't have a true lead to opportunity process this is great method for proving ROI.
Q: Which campaigns on a given product/industry is producing the best ROI?
Campaign Cost. While it's likely your organization doesn't have costs for every campaign those with available data can serve as a benchmark for similar efforts. The Revenue Categorization pie on the right of the dashboard will provide insight on how many campaigns have or do not have cost data and the associated ROI. Pursuit of campaigns with higher ROI is apparent but important when comparing performance of one tactic like Events or isolating two content syndication campaigns for comparison. Adding costs to the salesforce campaign is the primary method to bring in cost and associated ROI in CaliberMind. (Note: the ROI estimate looks at actual bookings/cost.)
Q: What inbound keywords, campaigns and channel engagement are producing the best ROI?
First touch importance. While attribution models include multi touch views and those weighted towards buyer propensity, the first touch is still important indicator in driving engagement and pipeline. This view provides insight into those first touch channels that engage, create and progress pipeline. Tactics used to bring accounts awareness of offerings should bubble up towards the top of engagement ranks by channel. Generally those correspond to campaigns with greater reach or ability to grow the contact database. Further down the funnel formal engagements should grow including consumption of assets tied to consideration and purchase.
Finding the right ABM approach. The right approach to segmenting your target account list is one that aligns with an initiative's goals and current account penetration. Measuring the effectiveness of activities based on where accounts are in their journey helps define success of a targeted campaign. Default filters like Account Segment, Tier or creating a custom List of segmentation of your choosing can help assess the engagement, opportunity creation or progression of pipeline all in one view.
Channel Contribution. The tables below the bar charts can help you determine the most effective channels based on your goals and help form conversion benchmarks. Whether it's understanding new customer acquisition or the engagement to opportunity ratio these tables inform that understanding at a summary level or specific to an ABM list. For a refresher on the power of lists and how to create view our knowledge basis chapter on the subject.
Q: What combinations of tactics are providing the best ROI?
Breaking down a customer journey. The idea of a customer journey is well understood but in practice how easy is it for a marketer to provide an example of an account or zoom out to a summary level for a given time period. The Journey Attribution view helps not only visualize this journey across a number of filter categories but also forms averages for number of touches to lead, opportunity or close and the typical position of those campaign types.
Account approach and adjusting the model. Visualizing the flow or aggregating journeys across the entire account base may create noise or may not make sense depending on the variation across account segments. One way to account for this is filtering down account attributes or creating an account list for a specific subset. The later allows you to extrapolate insights for targets and zoom in on a timeframe where campaign activities involve these accounts.
Toggling between multi touch attribution models helps answer different questions. The W-Shaped model will emphasize engagements near opportunity creation, primary contacts or those tied to the primary campaign of an opportunity. The Even-Weighted model will illuminate all touches across stages and the Chain-Based model will increase attribution value based on engagements with the highest propensity for creating or progressing opportunities.