***Posted on behalf of Kimberly Galitz, Marketing Automation and Attribution Specialist at Bandwidth.***
Getting Started with Bizible Reports
When I first started using Bizible, the reports that I used most frequently were 'Bizible Persons with Bizible Touchpoints', 'Bizible Attribution Touchpoints with Opportunities', and 'Leads with Bizible Touchpoints'. The 'Bizible 101' reports were a great place to start.
Pro Tip: I always advise people to focus on building out their top 3 basic reports. Having those basic reports ready to go is critical, it allows you to answer questions quickly to stakeholders. It is very common for people to come up to your desk and ask a very specific question such as “how’d this one campaign do?” It is extremely valuable to be able to quickly pull up those reports, instead of having to go back and rebuild them.
Interpret the Data
When it comes to interpreting the data, take the question being asked and then use the data to answer the question. We use different data sets to answer different questions. We do not use different data sets to make us look the best, but to answer the question in the best way possible. For example, if you’re focused on what drives opportunity creation, we would use the W-Shaped model. If you’re looking at what drives closed/won deals or revenue, look at a Full Path or Custom Model. It is critical to know when to use different models and for what questions.
When my team first started using Bizible, we first looked at all the opportunity reports. Initially, it was hard to interpret the data because it is difficult to analyze data in an attribution model if you have not done so before.
Pro Tip: If you are not familiar with looking at a weighted attribution model, look at the data that you are used to seeing next to the Bizible model you are using.
For example, we always put the opportunity amount into a column, and then the W shape and full path model data next to it. This enabled us to see what the opportunity percentage looked like with our previous method and the Bizible method. Once you get used to viewing it the Bizible way, it all starts to make sense.
What To Do Next
Use the data to optimize your marketing efforts and make informed decisions.
Example 1: Using the data to optimize email strategy.
Certain channels are meant to be middle touch. If you are just measuring first touch or last touch, you are not going to see those middle touches receive credit. For us, email is one of those middle touch channels. Since the purpose of email is typically to nurture along the journey, not to create leads, it is very important to understand how it is performing further down the funnel. Before Bizible, we did not see how email was influencing revenue. Adding Bizible data into our mix allowed us to understand how certain email tracks were performing and their importance at certain points in the journey.
Example 2: Using the data for events.
Before implementing Bizible, we were making decisions for events based on how we felt about the event. For example, if reps didn’t think they had meaningful conversations at an event then we would not attend that event the following year. Once we started using Bizible to report on events, we started seeing that a lot of those events were actually very meaningful. Events have a very long tail. For example, there could be a touchpoint for a deal that would close 2 years later.
It also helps us make additional strategic decisions for events. For example, if most of our touchpoints were from a meeting room instead of a badge scan, that helps inform us that maybe we don’t need a booth next year, just a meeting room. With Bizible data, we are able to make more informed decisions about events.
Scaling Your Attribution Initiatives
The number one piece of advice I can give is to start small. For example, I started by introducing Bizible reporting to the events team. I built reports for them and then set up a few meetings to talk to them about the data so they could get comfortable with it. Now they are running with the Bizible reports on their own. They know how to interpret the data and speak to it, which is the key to being able to scale your attribution initiatives. Once you have that first team up and running with Bizible, you can move onto the next team. Giving everyone the power to run with the reporting and analysis themselves is super helpful. If the team adopts Bizible as a team instead of just one person running it, it will really help with your ability to scale your attribution initiatives.