Introducing Lead Source Analytics
Today, Vertify is announcing the launch of a new feature: Pivot by Lead Source. It’s the second automated pivot in Marketing Impact Analytics but received the highest demand amongst our users. We believe it’s going to be revolutionary for companies grappling with questions around where to invest their marketing dollars next.
We all know that a lead source generated in the CRM is oftentimes inaccurate. We also know that it is extremely time consuming and nearly impossible to close the feedback loop back to marketing by tying the actual lead source to its impact on revenue. We set out to create Pivot by Lead Source after our customers started asking us if we could help them tie the real lead source detected by our system to channels that are performing and their impact to revenue. We wanted to take the guesswork—and, frankly, a lot of the actual work—out of cumbersome spreadsheet processes. And we wanted you to be able to do it all on a single, integrated platform you already know and trust.
We support companies globally across the Vertify ecosystem. And we know that they experience pain points at very specific moments in the lead source analysis process: identifying the true lead source, associating it to the right channel, and analyzing average days to close. With Pivot by Lead Source we’ve created the tools to help you solve them all that ultimately improves the buyer’s journey.
Identifying the “True Lead Source”
One of the most important questions for marketers—and revops teams—is, “Can I trust the lead source data?” Unfortunately, the answer is also one of the most elusive. You might be calling sales reps or, if you can afford it, relying on a data or marketing analyst to fill in the answers. You’re collecting lead source data from frustratingly manual sources. They might be outdated, inaccurate, or unreliable. In the end, you’re left with the uneasy feeling of delivering reports knowing it might be the wrong data for either your reporting or your own analysis.
With Pivot by Lead Source, you’ll have access to real-time lead source data on every channel—from events to webinars to emails. We take a scientific approach to true lead source tracking using rigorous analysis. You can make marketing spend decisions with confidence.
Associating to the Right Channel
According to our analysis, the average B2B company has 4 active channels. Those channels typically have 3 active lead sources. The top performing channel typically represents 60-75% of attributed revenue. Now you can understand why being able to associate lead sources with channels is important in terms of making more data driven decisions for marketing. But it’s often the case that leadership teams lack visibility into these additional details to have some comfort in the decisions they make with each new campaign.
For example: If you’re running several multi-touch campaigns, which lead source is most impactful to revenue? But is that different from which lead source and channel combo leads to revenue faster? How do you decide which lead source and channel combo to run and when?
Pivot by Lead Source makes it easy for you to check in on the lead source and channel combination that accelerates time to revenue, makes up the most effective mix, and helps to decide what to do next. From there, your marketing team can communicate with leadership about updates to make to your campaign strategy and how that can impact future forecasting efforts.
Analyzing Days to Close
Lead source analysis doesn’t happen just once, and it doesn’t happen in a vacuum. Marketing teams are constantly benchmarking, forecasting, scenario modeling, leveling, campaign optimization, and more. These touchpoints are hugely important, but they don’t need to take a ton of time. Pivot by Lead Source streamlines the process by taking into consideration more than just static revenue impact in all your spreadsheets and systems. It makes it easy to regularly check in on timeliness of a lead source and to make sure your channels are where they need to be based on accelerating time to revenue.
Pivot by Lead Source is unlike anything else on the market. No other product provides this combination of revenue marketing impact and average days to close. No other product offers the same kind of real-time data. And no other product is as integrated with the Marketing Automation Platform and CRM in an automated fashion.
With Pivot by Lead Source, marketing managers can finally get clear answers to questions like, “How effective is this lead source?” and “What lead source works well with certain channels?” They can iterate on their campaign planning using the other pivot selections that break down marketing effectiveness by product, and will soon be able to understand the impact of those decisions in the forthcoming geography, industry and job title automated pivots.
Using Pivot by Lead Source, marketing ops can generate reporting to get a high-level and detailed view of lead source analytics that spans marketing and sales. If a marketing ops person is ever tasked with pulling so much data together—they can be sure they’re doing so efficiently and accurately because it will be done automatically and using innovative tracking, not manual input.
Thanks to Pivot by Lead Source, marketing leaders can easily benchmark lead sources across channels to determine which one(s) drives the largest percentage of attributable revenue which then helps to make decisions on marketing mix.
Pivot by Lead Source will be indispensable across marketing and revenue operations teams —freeing up time for you to focus on your marketing strategy, your product, your company’s growth.
And that’s always been our goal at Vertify.
We are solving problems for revenue teams.
A company of marketers and data geeks building solutions for marketers.
Marketers creating products for marketers.
We build products to address challenges at various stages of growth, because we ourselves have faced those same challenges as we’ve grown.
This story started with our own lead source tracking. It continued last year with the launch of automated pivots in Marketing Impact Analytics. And it continues this year with the launch of Pivot by Lead Source.
I can’t wait to share how this product evolves, and for what we build next.
If you’re interested in learning more about Pivot by Lead Source, we’d love to connect with you. Find some time with our team here.
Author: Wayne Lopez | CPO | Vertify