CEO, Principal Consultant
14/10/2021
Reporting may just be the toughest nut to crack in Marketo.
Add this to it being one of the most unanticipated jobs on the marketing to-do list and you get a stream of Marketing departments with the same problem – not seeing the results that they want out of Marketo.
This blog will help you to learn about the fundamentals of reporting in Marketo; essential principles that you can build on and use to your advantage.
1. Utilise multi-touch
Generally speaking, most marketers start with first touch attribution and stop there, presuming that multi-touch options would be complex or expensive.
First touch attribution measures the first marketing touchpoint only, concentrating reporting on one channel or activity. And, at a time when the average customer requires 56 touchpoints before making a purchase, can we really focus on the first?
Multi-touch attribution allows you to work out which channels aren’t working and which are worth spending more valuable effort on to get those big wins. Maybe it all starts with the website but it’s the Facebook post that pushes them over the line and converts them into a sales ready lead.
We can help. Contrary to popular belief, multi-touch attribution tools don’t always require an expensive tool. However, for the more mature Marketo user, the likes of Adobe Marketo Engage’s Bizible is the perfect step up.
2. Go live
Consolidated dashboards will present your analytics in a live view for anyone in the team to check real-time results for themselves. This will not only save heaps of time usually spent creating weekly or monthly reports to the CMO, but it will also improve productivity levels overall – response times in tailoring content or channels accordingly will be hugely reduced.
We can help get you set up with a custom Marketo dashboard to centralise activities with always-on reporting – saving you time and reporting on what matters most to your team
3. Make the most of revenue cycle modelling
Take your marketing to the next level. Using revenue cycle models will allow you to see all the stages of your entire funnel – you can follow a new lead from first touch all the way to them becoming an actual customer or see recycled leads come back in the funnel at different stages.
Thanks to Marketo’s intelligent revenue models, you can start to identify the lead velocity through the pipeline and importantly the conversion rates that aren’t quite cutting it – a huge plus if you know the sticking point in the process isn’t Marketing generated leads!
Don’t forget to keep models simple though – overcomplicating can lead to lost leads. You can always organise further down the line with smart lists and reports if more detail is required.
We can help take your lead attribution model to go beyond just the Marketo statistics and tie in revenue influence. To really get to know your customer’s journey touchpoints why not download our complementary customer journey mapping guide.
4. Tried and tested is best
Don’t leave it all to chance. Although sometimes it is good to find the best way through trial and error, Marketo reporting is not one of them. Marketo has best practices for reporting for a reason – follow them and you will get the most out of your system. For more information on Marketo practices or if you need something tailored to your needs – get in touch with your experts.
Marketing reporting shouldn’t be an obstacle or dreaded task, it should help your team and marketing practices to thrive.
We can help you to understand and monitor marketing performance, what is working for you and how Marketo Engage can help you to get the level of detail and ROI you are looking for from your reporting.
