A deal closes, a gong rings, everyone cheers, and the Account Executive starts dreaming of President’s Club. Sure, marketing helped—but everyone is fuzzy on the details and so their contributions go unappreciated. Here at BrightFunnel, we’re changing all that—helping marketing get credit for every dollar they contribute.
Today, we’re taking a huge leap forward towards that goal with the announcement of our Machine Learning Attribution Engine. Now, marketers will have even more options to ensure every campaign gets exactly the attribution it deserves. They’ll also get expert guidance from our Machine Learning algorithms on how to best take advantage of all these new controls.
Working with pilot customers such as Invoca, Coalfire, LionBridge, and others, we’ve already seen powerful results. Using the framework we outlined recently, the new Machine Learning methods have proven to be 3-5x more accurate than any industry-standard attribution method.
“We’re always looking for ways to be smarter about attributing our revenue. If we can’t say what’s worked in the past we can’t make smart decisions about our future. BrightFunnel has already helped us understand our business in new ways, and we expect the new Machine Learning-based features to be even better.”
Kyle Christensen, SVP of Marketing, Invoca
With Machine Learning Attribution, marketers can set weights based on nearly every factor of a deal.
- Stage – Complex deals can last for weeks or months. We may want to indicate that the “First Touch” and “Opportunity Creation” touchpoints are most important.
- Channel – Often people engage in many different types of campaigns. We may want to give more credit to an executive dinner than a drip email click, for example.
- Contact Role – There are usually multiple people involved in a deal. We may want to give more credit to campaigns that influenced decision makers.
- Campaign Status – Campaigns are not always “all or nothing.” We may want to give partial credit if someone visits your tradeshow booth, but even more credit if they schedule a demo while there.
- Time Decay – Campaigns that are fresh in people’s minds are probably more influential. You may want to give additional attribution to the campaigns that occurred just before a deal advanced or closed.
All of these new options mean that marketers can get an attribution model that’s tailored to how their business operates. Our models pre-set all the weightings based on analysis of thousands of deals, so marketers aren’t relying on guess-work. Our algorithms have already learned what works, with what types of customers, at which stage.
We believe transparency is big part of earning the trust of marketers and their stakeholders. Customers will get access to recommendations on how to set their weights, as well as visual analytics that justify those recommendations.
From our original founding, we have had the vision that AI can improve the daily work lives of marketers. We couldn’t be more excited to be taking this first step.
Would you like to learn more about how Revenue Intelligence can help your marketing team shine? Contact us and Request a Demo.