As a follow up from the September 8th, 2021 “Measuring ROI for Your Unique Business Needs – Beginner” webinar, you can find answers to questions that we couldn't get to during the live Q&A section here. If you have further questions, feel free to post them in the comments section. You can watch the recording and access the other resources discussed in the webinar here.
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Question
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Answer
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We are a Marketo and Bizible customer. How does ROI reporting compare between the two?
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With out-of-the-box Marketo reporting, you can drill down between first touch and multi touch. Bizible allows you to break down your attribution reporting into several different models (FT, LT, Multi-Touch, U Shape, and even a custom attribution model). Bizible also makes it easier for you to track your paid channels through UTM tracking. Additionally, Bizible does not require contact roles to be associated to the opportunity to understand attribution. Marketo is a great tool to start your ROI reporting journey and Bizible can really help you get to that next level.
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Can you retroactively change those variable costs on a program and have your reporting update automatically?
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Yes, with Marketo Engage's period cost functionality, you can go back into the setup tab of your programs and change the variable cost at any time. Your reporting will update accordingly once that change has been put into place.
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Why does it always jump 1 month ahead when adding period costs?
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If there is no prior period cost, the months will be rolled forward to the next one that has been defined to assume that all net new program member acquisition will be associated to the month where a cost was incurred since no prior period costs were defined.
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What is the best report type to show program acquisition?
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I would use the program performance type. It allows you to drill down into which programs are generating the highest numbers of net new members. In order for this report to work though you need to make sure you're appropriately capturing acquisition programs, period cost and program membership.
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With the 4.2 release Marketo can now add people to dynamics campaigns
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Yes, this is correct. You can now add people to Microsoft Dynamics campaigns.
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How/where do you input revenue to be counted in the program analyzer?
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In order for revenue to be counted in the Program Analyzer report, you need to have the revenue captured in the opportunity in your CRM. You also must have contact roles associated to the opportunity so that you can attribute the person to the revenue. You must also need to ensure you’re leveraging period costs in your Marketo programs and that you’re indicating program success in your program statuses.
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Is there an easy way to calculate the fixed period costs? I know each company is different, just wasn't sure if you had a formula to help us follow.
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As I mentioned in the presentation, calculating fixed costs can be very challenging and like you said, different for every organization. That is why I recommend focusing solely on variable costs as you are getting started in your ROI reporting journey.
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How to set up FTA vs MTA models
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There are lots of different steps that go into building FTA and MTA models. Marketo has a great eBook that really dives into the different attribution models and how to set them up that would be a great place for you to start. You can access it here.
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