Tracking the ROI of marketing campaigns is a common challenge for SaaS companies. Long sales cycles, multiple stakeholders and touchpoints make it extremely difficult to build an accurate picture of how marketing campaigns are performing, and how much revenue they generated down the funnel.
While it's easy to track clicks and leads, once an opportunity is created, it's necessary to aggregate data from multiple sources in order to understand what marketing efforts contributed to the deal.
We help SaaS startups build a comprehensive approach to track campaign touches from lead to closed/won deal, and to understand how marketing programs are impacting annual recurring revenue.
There are different models available to track campaign attribution. There is no right or wrong one, it all depends on the funnel structure and sales model.
The first-touch model helps understanding what programs are being effective at generating the initial awareness and top-of-the-funnel conversions.
The last-touch model is focused at the programs that were able to convert the existing leads or MQLs into opportunities. It tracks the campaign engagement that happened before the opportunity was created on the CRM.
The multi-touch model equally distributes the credit for the deal across every campaign interaction. If for example the account was impacted by 4 campaigns, each one will take credit for 25% of the total amount of the opportunity.
For SaaS companies the main complexity with tracking marketing attribution is to make sense of all the touch points that affect multiple stakeholders within the same account. Aggregating the campaign interactions at the account level is necessary to understand how marketing impacted pipeline and revenue.
In order to setup account-based analytics and attribution, a company must have a process in place to track interaction from initial lead generation to MQL to opportunity and revenue.
At SaaSMQL we specialized in implementing processes and strategies to track account-based analytics and to gain full visibility of the impact of marketing programs on ARR.