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2018

In the August edition of the Fearless Forum, we're diving deeper into the topic of marketing attribution. In a recent challenge on Purple Select, a lot of Marketo users signaled they struggled with proving marketing's impact to their organization. In order to shed some light on how the experts are successfully proving their marketing impact everyday, we asked Libby Koebnick of PitchBook to help us understand how she's leveraging Marketo + Bizible.

 

Q1: Can you describe how marketing attribution works at your organization?

Web visits and form fills are captured via Bizible’s tracking scripts, and offline activities, including prospecting, are tracked via Salesforce activities. Our model takes all these touchpoints, connects them to and normalizes them in the buyer journey, and attributes a percentage of revenue back to them. This allows us to see how marketing and sales are contributing to our bottom line.

 

Q2: How did you manage your marketing attribution efforts before implementing Bizible?

Before Bizible, we were using a siloed last touch attribution model. This means we would attribute an entire contract to a single action of a single individual on that account. Since we’re a B2B SaaS Company with enterprise subscriptions, that model doesn’t make much sense for us. Now we use a custom Bizible attribution model that takes into account all the touchpoints of all the individuals involved in the conversation of the sale.

 

Q3: Can you share a specific benefit you’ve seen from implementing marketing attribution?

Our Bizible attribution models have showed us that over half our potential clients’ early interactions with us are via pitchbook.com. Citing this data, we successfully petitioned leadership for the resources to redesign our entire website.

 

Q4: How do you use Bizible with Marketo?

The way we get Bizible to see Marketo campaigns is to tag all the links in our emails with UTMs that Bizible will parse out when it captures landing pages from web visits. We just have to make sure all our links direct to our website or other pages that have the Bizible tracking script on them.

 

Q5: What are some unique ways you’re using Bizible with Marketo?

We started using in-platform forms in social media, which are super effective, but they don’t allow us to add Bizible tracking scripts. We found a workaround by using a Marketo campaign triggered by the form fill that creates a Salesforce activity task with the appropriate medium, source and campaign values. Bizible then turns those activities into touchpoints under the correct channel and subchannel.

 

Here's a closer look at how Libby leverages a campaign trigger in Marketo to turn activities into touchpoints in Bizible:

Screen Shot 2018-08-27 at 3.37.21 PM.png

Bizible Touchpoint.png

 

Q6: What was the most challenging part of choosing/implementing/building out your attribution model?

The most challenging part is getting our entire organization to correctly and consistently use UTMs. Web visits are bucketed into channels by building rules around landing page UTMs. Every time someone uses a new UTM (such as a new channel) or has a typo in their link, I have to create a new rule in Bizible.

 

Q7: How did you decide on the particular attribution model you’re using?

We are using Bizible’s Full Path model that attributes 22.5% of the revenue to each of the following buckets:

  1) First touch

  2) Lead creation

  3) Opportunity creation

  4) Close

The remaining 10% is attributed to the other touchpoints prior to the closed deal. Our old last touch attribution model was attributing 100% to the opportunity creation touchpoint. The Bizible model gives us context to the sale, more like account based marketing. We can see how the account first learned about PitchBook, how we warmed them up over time, and what eventually contributed to the win.

 

Q8: What advice would you give to Marketo users who are considering more advanced attribution?

Start collecting Bizible touchpoint data now! Bizible will naturally collect touchpoints, so by the time you’re ready to build your model you’ll already have your data. It takes a long time to build up historical data, and you don’t need an attribution model to start tracking touchpoints.

 

No attribution model is going to be completely right or wrong, and you can always adjust as you go. The model we went with was the most logical, considering our sales process, and the output passed the gut check.

 

When you put it all together, here's what attribution data looks like in Bizible Discover:

Overview-Board-Screenshot-for-Discover.png

 

We hope you enjoyed reading about how PitchBook is setting themselves up for success when it comes to proving their marketing impact. For even more tips and tricks on best practices, check out our brand new edition of the Fearless Forum which features a special video by Marketo Champion Juli James!

In the April edition of the Fearless Forum, we received a lot of questions about how to use Marketo Engagement Programs. So we sat down with Chris Saporito of Paycor to discuss how he executes successful engagement programs within Marketo to onboard new clients.

 

Q1: What led you to develop an engagement program?

A: We decided to revamp the way that we are onboarding clients because we had a gap in the quality of the current process. Our service organization wants to combine automation and personal touches to make the process as seamless and easy as possible. By adding sophistication to the automation and mixing in personal touches we hope to improve the efficiency and quality of the onboarding process. The ultimate goal of the project is to reduce the number of no-starts that we have, meaning the clients don’t make it through onboarding and we lose the business.

 

Q2: Could you describe the engagement program you created for onboarding new clients?

A: Our engagement is a series of emails that are triggered throughout the onboarding process for new clients. We created a new custom object in SFDC and synced the object to Marketo so that we can key off of the values. There are 7 emails in the series that we use the custom object for to tell Marketo which dates to fire the emails and which versions of the emails to fire. Most of the emails are standard for all clients, where we do some tokening within the emails, but the fourth email in the series is critical for onboarding. The custom object that we created has a field that we can populate with the information that is needed from the client. So, when the email is triggered, we are dynamically sending a specific email based on what the client has or has not given us yet. This is important because the data and documentation are critical to have before the client can process payroll. Also, within the series of emails our client service department has a specific cadence where they are mixing in emails and phone calls with the client to ensure that the client is on track and has a good user experience.

 

Q3: What was the process like to build out the engagement program using custom objects to trigger emails in Marketo? How long did it take?

A: The entire process for the project took about 3 months due to some internal prioritization. It took some Salesforce development work to build the custom object and to dynamically populate it to meet the needs of the business. Also, during the process we were able to get a temporary Marketo Sandbox to test out these processes, which had a learning curve in itself. Once we had the custom object built I was able to easily sync it to the Marketo sandbox and begin QA’ing the processes. Within a couple of weeks of QA’ing and working out the kinks we were ready to pull the trigger on the program.

 

Q4: Before using the SFDC custom object, had you tried to create a similar engagement program in Marketo only?

A: We have an email series that we ran out of Marketo for a few years to help client onboarding. The issues that we ran into were that it was difficult to customize the process due to some nuances of our business. By creating a custom object and doing some of the complex decisions in SFDC, it made it possible to pass that information to Marketo and create a better experience for the client.

 

Q5: What was the most challenging part of building and executing the program?

A: The most difficult part of this project was figuring out what all was needed to build this out. There was a learning curve since this was the first time that we had built something like this. Also, with the customization there was definitely some trial-and-error to get it to where we wanted it. Anytime that you have multiple organizations within a business working together for the first time it can be difficult but overall, I think it was a great success.

 

Q6: What advice would you give to Marketo users who are creating engagement programs?

A: I would recommend with any project and especially projects of significance, understand what the ask is. Truly understanding what the project needs to accomplish before determining how to build it is critical to creating the best product that you can. Something else that is crucial to projects like this is to give yourself plenty of time to QA. Test everything and then test is again, that’s the best way to make sure these projects have the smallest chance of error when they launch.

 

We hope you enjoyed reading about Paycor’s new Engagement Programs. To start building your Engagement Program today, check out Josh Hill's 5 step guide to building a successful Engagement Program in Marketo.

In the feedback from the June edition of the Fearless Forum, we received a lot of comments asking for ABM success stories. We spoke with Kyle McCormick, Marketing Systems Manager at Palo Alto Networks, to learn what steps you need to take to achieve success with an ABM campaign.

 

What are the key steps to launching a successful ABM campaign?

The first and most important step to launching a successful ABM campaign is to define the main stakeholders and everyone’s level of involvement.  At a minimum, this list should include marketing operations, sales leadership and IT (SFDC product owners). Depending on the size of your company and who manages accounts and contacts, this list might be significantly larger and could include sales operations, sales enablement, and business development to name a few. Once these stakeholders are aligned on objectives, timelines, and success metrics for the campaign, the last box to check is determining which accounts will be targeted and how they will be flagged within the systems. When selecting accounts, start small by focusing on 20-30 accounts at most.  If you choose too many accounts, you will not be able to devote the attention needed to nurture those accounts through the sales cycle.

 

How do you pick the accounts to use for the campaign?

At my previous company, we took a three-step process for selecting our accounts. We first asked our enterprise sales managers to select the top 25 accounts they would like to target. As you would imagine, we were quickly inundated with an overwhelming number of accounts. It would be unrealistic to select all of them and we knew we needed to focus on just 20-30 accounts. Secondly, we leveraged Mintigo to aid in our account selection process by analyzing current customer data. Using their predictive model, we scored the accounts our sales managers sent and then chose target accounts with an “A” grade that were in the 99-100 percentile. Lastly, we got official sign off from all stakeholders to make sure everyone was on the same page as to which accounts would be selected. After receiving approvals, we ended with roughly 30 targeted accounts.

 

What steps are critical to success?

The most important step to ensure success is preparing and aligning systems prior to launch. At my previous company, we leveraged our sales operations team and pioneered a company-wide cleanup effort to remove duplicate accounts, contacts, and leads prior to launch to ensure we were not targeting accounts we already actively had in the sales cycle. Understanding sales operations’ processes and best practices were necessary to effectively measure the success of our ABM efforts. We also would not have been able to launch an effective program without engaging our information technology/systems team early (and often) to ensure our field-level tracking requirements were understood, tested, and in place prior to launch.

 

How do you align with other teams critical for campaign success?

Leveraging and integrating technologies, specifically Mintigo and Marketo, can play an essential role in aligning the sales and marketing teams. Understanding and sharing the power of predictive analytics with the sales team helped everyone realize the potential opportunity for account penetration. As previously mentioned, we were able to keep our IT/IS teams aligned with our goals by communicating early and often within the process.

 

What are some challenges you’ve had to overcome?

The biggest challenge at my previous company was getting global buy-in across all functional teams. Everyone talks about sales and marketing alignment, but it is bigger than just a catchphrase. You need to ensure your IT/IS teams are on board with changing fields in Salesforce and Marketo, and you need to make sure individual stakeholders are on board. The second most challenging obstacle was the account selection process. We went through a massive cleanup effort to remove duplicates, but duplicates will always remain, and it is important to regularly check and clean the database. We had to go through multiple iterations of combing through selected accounts to ensure we were not selecting current customer or partner accounts. 

 

 

About Kyle McCormick

 

 

LinkedIn: https://www.linkedin.com/in/kylehmccormick/

Community Page: Kyle McCormick

 

Have any questions or other ABM success stories to share? We would love to hear them in the comments below.

 

This content is featured in the August edition of the Marketo Fearless Forum: Edition 03 . Feel free to check it out for more best practices, tips and tricks, and product updates!

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