BI for Marketers Part One: Pipeline Influenced by Marketing

November 8, 2018 Laura Kirkland

Pipeline Influenced by Marketing


What is Pipeline Influenced by Marketing? 

Pipeline influenced by marketing is a metric that reveals which marketing programs and/or channels influenced a lead that went on to become an opportunity.

What does it tell me?
At a high level, it shows marketing is having an impact.  Specifically, it shows which marketing programs and/or channels are sourcing opportunities for sales.  It confirms which of your marketing efforts are successful at moving prospects to sales. 

One important aspect about this metric is understanding that it does not track all the way to closed-won (revenue), and that's fine. It is still important to review this metric for full understanding of what is happening along the buyer journey. It is common practice to also track revenue influenced by marketing to see which efforts are impacting prospects that make it across the finish line to closed-won. 

Track it by:

First-touch impact

  • All the pipeline credit goes to the program that acquired the record.
  • This attribution method is focused on the sourcing channels. It excludes non-sourcing channels like email send or nurture, since a record cannot be sourced from these channels.

or track it by

Multi-touch Impact

  • Pipeline credit is evenly split across all programs in which a record reached a success status and eventually became an opportunity.
  • Not exclusive to sourcing channels. Channels may be any that the record engaged with along the funnel (may be email send or nurture).


How do I ensure my marketing automation platform is set up to track this accurately?
As the saying goes, you have to walk before you can run.  It pays dividends to take a moment and ensure your MA platform is configured to report the data correctly. Here are 5 things to consider: 

Align lead sources to channels correctly
This is key for first-touch attribution to make sure you are correctly analyzing what sourcing channels have had most impact. 

Align acquisition program to program name
This is also key for first-touch attribution. Ensures clarity in reporting.

Attach contacts to opportunities
This is the link to seeing which programs and/or channels records engaged with throughout the buying cycle.

Define successes within channels and programs
This is primarily multi-touch specific. This becomes key when you want to start analyzing all the things happening throughout the buying cycle. A record must reach a success status in the program for attribution to be credited in multi-touch attribution.

Implement an advanced reporting tool
Consider this especially if you have goals of multi-touch attribution. Basic reporting tools may get you first-touch attribution, but you will likely need an advanced reporting tool to go beyond first-touch to multi-touch.
 

About the Author

Laura Kirkland

As Elixiter's Marketing Manager, Laura focuses her creative talents on making sure the team's marketing programs flourish and grow. She enjoys solving the big strategic types of challenges and finds satisfaction in creating innovative solutions that didn't previously exist. She loves being outdoors and exploring the beauty Montana offers whether it’s in a boat on a river or hiking a new trail. Laura is always learning something new - currently she is focusing on long distance running and refining her swing dancing skills.

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