B2B SaaS marketers constantly face the pressure of proving ROI. Boardrooms are filled with questions like "What's the return on investment (ROI) of this campaign?" or "How many demo requests did the last campaign generate?" Answering these questions can be tricky, especially in B2B SaaS where the buying journey is complex and ad spend rarely translates directly into demo requests.
While some campaigns generate direct leads, most nurture demand over time. The limitations of current marketing measurement technologies further complicate things. However, despair not! This blog post will outline a framework for B2B SaaS marketers to move beyond vanity metrics and gain valuable insights into marketing performance.
Marketers are often tempted to analyze every single dollar spent on advertising. However, this approach is not only inefficient but also ultimately futile. Obsessing over every click creates analysis paralysis and hinders your ability to make strategic decisions. Sometimes, good marketing is simply about building brand awareness and creating compelling narratives, not directly tracking every interaction.
Executives and investors crave data-driven insights. A robust framework is essential for providing actionable feedback beyond vanity metrics like impressions, clicks, and even conversions. Here's how to move beyond the surface level and gain a deeper understanding of marketing effectiveness:
LinkedIn's treasure trove of B2B data offers invaluable insights into your target audience. Features like Sales Insights (launched 2021) and detailed campaign performance data (hopefully available through future integrations or APIs as well soon enough, not just Salesforce) can be game-changers for B2B SaaS marketers. The most valuable insight? Honestly, Impression Share provides a powerful indicator of brand awareness within your target market.
Several tools like Leadfeeder, Albacross, and Lead Forensics can help you understand which companies visit your website. These vendors leverage databases of IP addresses to identify website visitors. By segmenting this data based on UTM parameters, you can identify which campaigns are driving traffic and convert those high-intent visitors into leads (even if they don't fill out a form). Consider "time on page" or "average session duration" as additional filters to identify truly engaged visitors. This data, synced with your CRM via integrations or APIs, allows for targeted sales development outreach to qualified leads.
Customer Data Platforms (CDPs) are another valuable tool for B2B SaaS marketers. While some CDPs cater primarily to B2C audiences (e.g., Emarsys and Exponea/Bloomreach), others, like HubSpot and Segment, focus on B2B needs. Most CDPs rely on cookie-based data, but since this is first-party data, it's less susceptible to Google's upcoming privacy updates (which primarily impact third-party cookies).
Let's explore existing marketing attribution models within popular CRM platforms.
Salesforce Campaigns offer a seemingly straightforward solution for marketing attribution. However, there are some limitations to consider:
For more details on Salesforce attribution models, you can refer to the resources linked in the original blog post.
HubSpot's campaign attribution models also have their limitations, as detailed in their "Influenced Deals" section of the Campaigns FAQs. HubSpot's focus on marketing assets and content can be valuable, but it's important to understand its limitations:
Now that we have valuable data, it's time to make it actionable. Here's a breakdown of online and offline marketing automation setups:
Here's a simplified example of a templated online marketing automation approach:
This approach allows for automated lead nurturing and efficient marketing campaign management.
Offline marketing efforts also require data tracking. A common approach is to utilize a flag for syncs/uploads, with "Last Lead Source" as the primary indicator. Contacts, companies, and deals can be tagged, triggering workflows similar to the online approach, often facilitated by integration tools like Zapier.
Marketing teams are often bombarded with demands to "create more opportunities," "build more pipeline," or "generate more revenue." However, what do these terms truly mean in the context of B2B SaaS marketing attribution? Let's break down some key metrics and their definitions:
Demo requests are a common indicator of marketing-generated leads. However, not all demo requests can be solely attributed to marketing efforts. Sales development or outbound sales teams might have nurtured the account beforehand.
A time-based approach is recommended for attribution. When did the marketing touchpoint occur in relation to other interactions (sales outreach, lifecycle stage, etc.)?
Here's a breakdown of key metrics for marketing attribution:
These are accounts identified and nurtured by marketing that are now actively pursued by the sales team. This indicates a good fit for the product/service.
These are accounts where sales representatives have established contact with relevant decision-makers and are working towards securing a meeting. This provides valuable insight into the effectiveness of business development efforts.
"Demo Meeting" - These are opportunities that progress to a demo meeting (or similar significant next step) after a marketing touchpoint. This attribution window typically has a set timeframe (e.g., 30 days) to account for the complex B2B sales cycle.
Marketing touches can include content downloads, webinar registrations, event participation, and yes, even demo requests.
If marketing played any role in bringing the account in (regardless of prior sales touches), it should be considered "sourced" by marketing.
Remember: Sales plays a must-do role in nurturing leads and closing deals. Marketing attribution is about understanding how marketing efforts contribute to the overall sales funnel.
Here's the key takeaway: By utilizing a time-based approach and considering the full sales cycle, you can gain a clearer picture of how marketing efforts generate new and qualified leads that ultimately become opportunities.
