Doing marketing across different platforms is highly used in modern marketing, and if you aren’t doing this, you have a huge opportunity, but some would also say you are missing out. However, it doesn’t comes without any problems, one of them is attribution. Wrong attribution is a huge problem because it makes you allocate budgets to the wrong places and generally focus on the wrong channels. But if you are using HubSpot, you are once again covered by its many great features. They have a solution for this, which is called multi-touch revenue attribution. We will discover how this feature can help you optimize your marketing strategies and maximize your ROI on your marketing efforts
Why Multi-touch Revenue Attribution Can Help You Gain More Revenue
Multi-touch revenue attribution is a game-changer for understanding the impact of your marketing efforts on revenue generation. By analyzing the entire customer journey and attributing revenue to each touchpoint, you can gain valuable insights into which marketing channels are driving the most sales. This, in turn, allows you to make more informed decisions about where to allocate your marketing budget, leading to a bigger return on investment and easier to show to the board, client or your boss.
What are the Benefits of Multi-touch Revenue Attribution in Correlation to Marketing
Multi-touch revenue attribution offers several key benefits that can elevate your marketing efforts. Firstly, it provides a more comprehensive view of the customer journey, helping you understand how different marketing channels and tactics work together to drive conversions, as mentioned above. Secondly, it allows you to identify high-performing campaigns and channels, which makes it possible to optimize your marketing efforts. Lastly, it helps you justify marketing spend by showcasing the direct impact of your efforts on revenue generation, making it easier to secure budget and resources for future campaigns.
A Step-by-Step Guide to Set it Up
Marketing Hub Enterprise users can examine the closed-won revenue attributable to a particular page, blog post, or marketing email using multi-touch revenue attribution reporting. To navigate to your content, follow these steps:
- Website Pages: Access your HubSpot account and go to Marketing > Website > Website Pages.
- Landing Pages: Access your HubSpot account and go to Marketing > Landing Pages.
- Blog: Access your HubSpot account and go to Marketing > Website > Blog.
- Email: Access your HubSpot account and go to Marketing > Email.
Select an email, blog post, or page by clicking its name. In the Performance tab, you’ll find Revenue data at the top if there are any interactions from contacts linked to closed-won deals during the specified timeframe:
- Attributed Revenue: the revenue from closed-won deals resulting from interactions with the content, including page views, form submissions, CTA clicks, and marketing email clicks. Hover over the revenue amount and click Quick view for a detailed breakdown of influenced contacts and deals. Learn more about various revenue attribution models.
- Deals Influenced: the number of closed-won deals impacted by the content. Hover over the deal count and click Quick view for a detailed breakdown of deals.
- Contacts Influenced: the number of contacts linked to closed-won deals that engaged with the content. Hover over the contact count and click Quick view for a detailed breakdown of contacts.
To customize the report data:
- To filter by a specific time period, click the Date range dropdown menu and choose a time range.
- To modify how revenue is calculated, click the Attribution model dropdown menu and select a different attribution model.
An Example Where It’s Relevant for a Company
Consider a B2B software company that offers a project management tool. They invest in various marketing channels, including content marketing, social media, email campaigns, and paid search. By implementing multi-touch revenue attribution within HubSpot Marketing Hub, the company can analyze how each of these channels contributes to revenue generation throughout the customer journey. This insight enables them to optimize their marketing strategy, focusing on the most effective channels and tactics, which can increase the conversion rate of their efforts.
How Radiant Can Help You Utilize Features within HubSpot
Radiant is a 5/5 star rated HubSpot Partner with 20 reviews, we have 1 of only 10 official HubSpot trainers in the Nordic. We have implemented HubSpot and its features for more than 40 companies. To make a long story short, we are HubSpot nerds, we know how to utilize it and create a better foundation for growth in various B2B industries. So, if you have any questions regarding HubSpot, its features or Radiant don’t hesitate to contact us.