By Josh Hill October 2, 2014
“Why is ‘Web’ not a lead source? Web is not a lead source because visitors to your website may be there for a variety of reasons.”Similarly, a whitepaper is not a “source” of a lead. As I pondered this question for a great solution, I went into my friend Jeff Coveney’s presentation on Lead Sources at the 2014 Marketo Summit. I found his idea that you could track the Source and the Asset detail one part of the puzzle, especially for naming Sources and for First Touch, Last Touch tracking. I wanted to develop this system further, so I kept working at it. One way to look at this situation is to ask, “What is the origin of the Lead and where were they going?” I like to think of this as the Origin and the End Point. If we take a look at this image, we can see that a Channel Origin can go to more than one End Point. I might promote my event on a PPC platform while also using my in-house list and an outbound call campaign. Longer term and large marketing programs might use five or ten promotion platforms to get the word out. And it is a good idea to remember that your promotion channels are promotion platforms, just as if you were standing up in the town square and had a loudspeaker. There are several platforms in that square and each one has a different audience. Thus, Google AdWords has one, very large group, while your trade association has a smaller, focused platform. With this understanding, I began working out the best methods to understand the data we could collect that would explain how well marketing was doing. When we came to PerfectoMobile, we needed to look at how to separate Lead Source data from Content request data in Marketo and Salesforce. Thus, we created a new attribution concept: Offer and Channel.
“When designing tracking models, I try to picture myself as the lead recipient and supply them with the most valuable information for follow up: Why did the lead respond, and how did they find out about us.”Immediately I saw the simplicity she crystallized for all marketers who need closed loop attribution. This goes right back to elementary school essay lessons: the 5Ws and the 1H: Who, What, When, Where, Why, and How. Let’s take a closer look at how this concept works. Most marketing automation platforms (MAPs) take care of the Who and When because those are baseline features. Tracking things like the What, Why, Where, and How are a bit trickier. Usually those items have to be tracked and setup by the user (meaning you) with Forms, hidden fields, and URL parameters. A system like Marketo will let you track the Offer and the Channel via the Program concept. Yet, in Marketo you can only choose Channel or Offer with the Program Channel Type. For Perfecto, we chose to track Offer at the Program level. In your MAP, the flow could look like this, with URL parameters driving data collection in your MAP. We will talk about how that is done in more detail next time. Once you understand these concepts, the hard part is putting together a system that lets you track each of these touches and report on them. Marketo already handles the Who and the When. The individual touch data will be used to answer the questions Perfecto posed at the outset:
|Question||How We Answer It|
|Did that newsletter sponsorship generate better webinar attendance than our benchmark?||
|How much did that cost?||Program Cost DataSFDC Cost Data|
|Did a particular tactic lead to revenue and did that get associated to the content?||Use a campaign or RCE cross tab to show Offer X used Channel Y to obtain 58 leads and 4 opportunities with $120,000 in pipeline|