I never understand the data discrepancies I find in various reports in Marketo RCE.
In a Program Opportunity report I look at New Names introduced by Program.
Then in a Lead report I look at Leads introduced by Lead Source.
The two numbers for any give program are drastically different. Can anyone help me understand why?
Leads are all the people in the database. So when you look at leads by source, you are looking at all your database, grouped by the "lead source" field.
New names in the program are the specific leads that entered your database through this program. So it's normal they are much fewer than the lead source. It would make sense that the "lead source" of these new names relates somehow to the program or the program type.
Expanding a little on what Greg said, I will try to explain why Marketo makes the distinction by leads in a program and new names generated by the program.
Once you've setup Marketo, you've hooked it up to your CRM and you start running campaigns, you will also start bringing in revenue. Since it's important to know which programs are bringing in the revenue, you can choose either of two methods; First Touch attribution or Multi Touch attribution.
In First Touch attribution you look at the program that brought in the lead and attribute 100% of revenue towards that program. In Multi Touch attribution you look at all the programs that a lead has been succesfull in and distribute the revenue evenly among those programs. So in a First Attribution model, it's important to know which programs brought in the new leads (and revenue).
It can also be good to track the programs that brought in the new leads to compare the revenue sourced by Marketing to the revenue sourced by Sales.
Also, take a look at one of my favorite Marketo videos of all time by: Sessions – The Marketing Nation Summit, April 13-15, 2015 – Marketo (by Heidi Bullock and Lizzy Funk)
Thanks both responses but I'm not sure how they answer my questions. I'm very familiar with first touch vs. multi-touch. It is the entire reason we switched to Marketo. But that attribution I thought related to opportunities and opportunity value (and revenue). Are you suggesting that lead allocation is also first vs. multi touch? And if so which report or metric then is reporting on first touch vs. multi touch. Are new names "first touch" and leads multi-touch?
FYI Robert Stanley
It's equally important but a different measure of success. There could be campaigns that are very succesfull at driving revenue and have a high ROI, there could also be campaigns that have low revenue but bring in a lot of new names.
New names are a good metric since it's equally important to move leads through the funnel, as it is adding new leads to the funnel.