July 16, 2020 •Cole Geitner
Marketers have been making guesses and assumptions for as long as their teams have existed. There has never been a single source of information for marketers that tells the entire story of what is driving your business and helping discover new avenues of revenue.
This is especially true for the B2B world. After a lead is generated by marketing and it gets handed over to the sales team, any trace of the marketing effort that drove that lead is erased. In other words, does your business know not only what keywords in paid search are driving the most Marketing Qualified Leads (MQLs), but which keywords convert the most leads to actual opportunities that eventually lead to closed won deals?
Which blog article leads have the shortest sales cycle?
What paid search campaigns bring in customers with the largest amount of revenue expansion 12 months from now?
You get the idea.
How do you measure marketing attribution?
Whether you are an eCommerce store focused on dropshipping or you are a SaaS company in rapid growth, knowing what channels are driving your top line revenue is vital for survival.
In short, attribution platforms look at the entire ecosystem of traffic coming to your site and when they complete conversions that you are tracking as success metrics. From there, they analyze those conversions and distribute credit based on which touchpoints were involved in the process.
That brings us to lead attribution. This is a specific type of attribution reporting for businesses that don’t have an eCommerce site. In other words, lead attribution allows marketers to see exactly which marketing efforts are driving the most revenue opportunities on their website and it gives insight into how to scale/forecast that revenue.
HubSpot Revenue Attribution Reporting
With the DemandJump platform, all HubSpot users can now see exactly what marketing efforts are driving the most qualified leads, as well as revenue from closed won deals. Take a look at the DemandJump Partner example below. Once you start to understand exactly which channels are driving performance, your marketing team can double down on those efforts and drive even more revenue. That is exactly what this DemandJump Partner did from April to May to June. All of these channels drove a similar amount of leads, but the revenue came from a select few campaigns. Now, their sales pipeline is seeing explosive growth for the first time thanks to our account based attribution.
Looking at sales performance from the channel level is just the beginning. With channel drilldowns, you can go all the way down to a specific campaign and even keyword level to really understand what is actually driving performance.
Here is an example from our own marketing team at DemandJump:
We had two paid search campaigns that were both driving leads at an extremely efficient rate. We were spending similar amounts and on the surface level, Google Ads attribution reporting would tell us to keep it that way. After integrating our HubSpot instance into our data engine, it turns out that one of those two campaigns was driving 99% of revenue opportunity, even though it spent the same amount as the one that drove 1% of revenue. Since then, we have completely shifted budget to the productive campaign, focusing on keywords that are driving performance and we are now seeing an influx of qualified leads, compared to before.
I’ll be blunt. Tracking success on leads driven across your channels is wasting your time and budget. End of story.
I could drive endless leads for our customers, but if it doesn’t open opportunities for closed deals, we are putting their dollars in the blender. Armed with lead attribution data from our HubSpot dashboards, our customers no longer just track total leads driven. Rather, we can track which deals are most likely to close, and which channels are driving the most top line revenue for your business with contact-level attribution.
What Can You Learn From HubSpot Lead Attribution?
You know, I am pretty passionate about this stuff. Out of all of DemandJump’s features, I usually choose to write about what we bring to the attribution game. That’s because DemandJump, from our company’s inception, has been about honesty, transparency, and providing companies with real recommendations (example below), not just throwing numbers over the fence.
That is why when you partner with DemandJump, you also get powerful insights into the data you are seeing. You will eliminate the guesswork when you have a team over at DemandJump dedicated to ensuring you are finding every great opportunity using your data. Get a free assessment today or sign up for a 30 day trial.
