When it comes to measuring your marketing attribution, do you sometimes feel like you’re stuck looking in the rearview mirror? While many businesses are holding their marketing org responsible for future planning and forecasting spend — they’re often stuck relying on backward-looking marketing measurement techniques and antiquated data.
This makes it hard for marketers to get a gauge on what’s working and what’s not, which makes reporting campaign performance and allocating budget even harder. In fact, a recent Forrester report found that the single biggest challenge for B2B marketers is attributing program spend to revenue results.
So what’s a marketer to do?
Enter marketing attribution technology —or Marketing Performance Management (MPM) as Forrester has named the category. This group of emerging technologies can help govern goal setting, monitor campaign performance and optimize marketing’s contribution to revenue.
How MPM Can Improve Your Attribution
In the past, marketers have had to rely on clunky spreadsheets or data platforms that weren’t specifically built with a marketer’s needs in mind. However, with the new wave of marketing performance management tools, marketers start proving their value to the organization.
According to Forrester, “B2B marketers that deploy MPM report many benefits, including visibility into cross-channel marketing performance, visual indicators of progress against key performance indicators (KPIs) through customizable real-time dashboards, insight-loaded lead-to-revenue metrics and powerful attribution models.”
These type of deep-dive reports are finally enabling marketers to do what so many struggle to — calculate and demonstrate return on marketing investments. Additionally, MPM helps B2B marketers tell the story of marketing performance in term of bottom-line business impact.
The Future of Reporting
To better understand how marketing can better serve the business, it’s time for marketers to adopt MPM. One of the benefits of a MPM tool is that it can provide comprehensive marketing and sales lead-to-revenue management metrics and powerful multi touch attribution to enable long-term structural program changes. Not only that, but it finally lets marketers go into future-state planning instead of being stuck looking at metrics in a rear view mirror.
Want to learn more about marketing performance management? Download this Forrester report to learn a third party perspective on the power of marketing attribution.