How to Attribute Accurate Channel ROI with MKTO Programs

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How to Attribute Accurate Channel ROI with MKTO Programs

Hi folks,

 

A team I'm working with is shifting to a new Marketo structure. So far we've been moving towards a few things:

  1. Channel level attribution Programs and Campaigns to help with understanding Channel ROI, to be refreshed Quarterly. Spend per channel will be associated on a quarterly basis. For example (we have more Channels than what's seen here):
    1. Channel_Setup.png
    2. Member statuses for advertising include things like "Clicked" for clicking on an Ad or "Filled Out Form" if they filled out a form directly on the channel that then syncs to MKTO
    3. The intent of these programs/campaigns is to get a holistic understanding of where our Leads are coming from and associated ROI - they will not be associated with MQL, SQL, and other milestones

  2. Content programs are simple and contain the assets (e.g. emails) for the program as well as Campaigns to attribute Statuses like "Viewed" (viewed page) or "Downloaded" (filled out form to download the asset). For example:
    1. Content_Setup.png
    2. Attribution for MQL, SQL, etc. will always be attributed to the content, NOT the Channel (the Channel can be viewed through the stamped UTM data, however)

  3. We are also stamping UTM, Referrer, and Original Search Engine information on Campaign Members in SFDC (and then erasing the values on the Lead to prevent false attribution) to see which Channels sourced traffic/form fillouts for individual assets

The benefit of this structure is that it's highly scalable. Content is evergreen and does not need to be refreshed quarterly. Content campaigns are two campaigns rather than a Campaign or program per channel interacting with the content (e.g. 15+ per asset depending on how many Channels you're tracking). Channel Campaigns are refreshed quarterly, but could be done less frequently depending on business needs. This is a lift given that MKTO doesn't allow for Program/Campaign data uploads, but things can at least be cloned and updated.

 

The company is not in a place where it's ready for/has budget for Bizible - things are more nascent at the moment. This is always an option longer term and/or a data warehouse solution.

 

Our current challenge is this: How do we get true ROI for Channel Programs in MKTO/Campaigns in SFDC in a multi-touch way?

  1. Channel programs in MKTO and SFDC campaigns can have quarterly costs associated easily
  2. When looking at SFDC reporting, we can pull reporting on Opportunity $ associated with the Channels
  3. HOWEVER, if a Lead has engaged with multiple Channels in a single quarter before becoming an Opportunity, we risk double counting the Opportunity value
  4. We're trying to avoid this to get a true picture of ROI and struggling to find a solution

For example, Lead engages through Channel A and Channel B. Lead is then a Campaign Member of Campaign A and Campaign B (associated with the Channels) in SFDC. The Lead becomes an Opportunity worth $100k. When we pull reporting on the contribution of Channels to creating Opportunities, the Opportunity value of $100k will be attributed to BOTH campaigns rather than each Campaign being worth $50k. This skews getting a true picture of ROI for each Channel. 

 

We are looking into implementing Full Circle Insights for milestone/Content attribution, but are not sure that it will solve for Channel ROI as a separate use case and something we want to see a multi-touch model on separately.

 

Thanks in advance for any thoughts/assistance, or guidance towards other Community threads that may help!

 

Cheers,

Julia

 

P.S. @Justin_Norris1 looping you in per your excellent answer on attribution here in case you have any thoughts. Thanks!