July 31, 2020 •Cole Geitner
What is Lead Source Attribution?
Before diving into lead source attribution specifically, let's quickly define marketing attribution as an overarching topic. Attribution is the process of assigning credit of a sale, opportunity, or any other type of conversion to the channel or channels that aided the conversion. For example, if somebody were to click on your Paid Search campaign for running shoes, Google Ads would be attributed to that eventual sale.
For B2B companies, attribution becomes even more important. Lead attribution is the process of analyzing what channels and campaigns are sourcing leads across all stages of the sales funnel. By analyzing what channels drive the most closed won opportunities your team can pour money into the right marketing campaigns every time. There is even value in seeing what campaigns drive the most closed lost leads. For example, if there are two campaigns driving the same amount of Marketing Qualified Leads (MQLs), one may be driving closed won deals and one may have deals that fizzle out after one phone call. This is vital information for any company to know how to plan your budget.
How Lead Source Attribution Can Help Lead Generation
There are many things to consider when trying to increase quality lead generation in an impactful way. One of the most important, if not the most important, factors to consider is how you attribute those leads to campaigns across all your marketing channels. Without an organized, Multi-touch lead attribution model, it is impossible to know what is truly driving your success.
Many companies fall into Pareto’s Principle, otherwise known as the 80/20 rule. Pareto’s Principle in marketing means that 80% of your leads/sales come from 20% of your content/keywords. Without a detailed map of what that content is and how it is impacting your pipeline, it is impossible to continue to scale your lead generation to the next level.
There are countless examples of DemandJump customers using our lead source attribution models to help drive additional opportunities and revenue. In the screenshot above, this customer started using DemandJump’s attribution solution in April. Since then, their sales pipeline has seen an exponential increase, just by knowing where to put every marketing dollar with the highest likelihood of winning deals.
How to Start Lead Source Attribution
The DemandJump platform makes it easy to start utilizing Lead Source Attribution in your daily workflow. We have multiple integrations with CRMs and every major ad platform. With these integrations, your information is added quickly and we start analyzing your lead generation pipeline from day one. Not only that, but you will also get support from a dedicated advisor whose purpose is to help find those opportunities to optimize and give strategic advice on what to do next through our recommendation interface. You may even get the chance to work with me, one of those advisors!
The point I am trying to make is that DemandJump allows marketers to make smarter decisions easily and more effectively than any other system on the planet. With easy to set up integrations and an extremely high level of service, we have vaulted companies to new heights by acting on insights from the DemandJump platform. Contact us for more information or start a free trial and see it in action for yourself.