DemandGen fielded a survey to establish B2B Marketing Attribution Benchmarks. The B2B Benchmark Research shows that marketing reporting matures to track more ABM & conversion at specific stages of a buyers journey.
Nearly every B2B organization strives to learn more about their buyers. Building B2B customer journey maps, studying triggers and analyzing the behavior of key stakeholders are common practices for marketing teams. The common factors for all of these marketing automation benchmarks are having actionable reporting and metrics on the campaigns that are influencing buying decisions.
The Marketing Attribution Benchmarks survey found marketers are moving to a more mature phase of measurement, driven by a need to better align with sales, gain deeper metrics around buyer stages and use them to track conversions and measure their ABM strategies. Some of the main drivers behind that push for deeper measurement include getting better and deeper metrics on which campaigns and offers are driving the best conversion rates at specific stages of the buying cycle, and which channels are having the biggest impact on revenue.
The B2B Marketing Attribution Benchmarks research found that while B2B marketers are aware that they still struggle with many areas of measurement and attribution, it is still a growing priority for 90% of respondents.
Marketing Attribution Benchmarks – Takeaways
- Marketers’ push to gain more granular metrics around buyer stages
- Top priorities for ABM programs, including individual channel and campaign metrics
- Current key metrics of focus, such as paid search and events
- Top challenges in measurement and attribution, including lack of resources and messy data
- Marketers’ future plans around marketing measurement and attribution strategies
Ability to Measure & Analyze Marketing Performance
How would you rate your company’s current ability to measure and analyze marketing performance and impact?
- 42% Needs improvement
- 30% Average
- 16% Poor / inadequate
- 11% Excellent
However, while these more specific drill downs are top goals, they also remain tall challenges for a lot of businesses to measure and get accurate attribution. Specifically, the biggest challenges revolve around measuring impact across channels and campaigns (50% of respondents) and measuring and tracking activity between specific buyer stages (43%).
The research also shows that 42% of marketing professionals believe their ability to measure performance needs improvement, while 15% said it is poor/inadequate. These results indicate little change when compared to 2018, where 40% of respondents noted their measurement skills need improvement and 14% said they are poor or inadequate.
Marketing Attribution Benchmarks – Measurement Challenges
What are your biggest challenges to measuring and demonstrating marketing performance and impact?
- 50% Inability to measure impact across channels/campaigns
- 43% Inability to measure and track activity between specific buyer stages
- 37% Not enough resources
- 37% Data is a mess
- 33% Lack of reporting
- 15% Not sure what to measure/we lack clear KPIs
- 3% We don’t know where to begin
Measurement Around B2B Buyer Stages
The B2B Marketing Attribution Benchmarks research suggests that sales & marketing alignment drives deeper measurement around buying stages and there is a greater need for marketing and sales alignment is driving mature marketers to get more granular with their measurement and attribution efforts. Thirty-one percent of respondents to the Marketing Attribution Benchmarks survey noted that improving sales and marketing alignment is increasing their focus on or need for deeper metrics — a slight dip compared to last year’s 38%.
The research revealed that marketers are getting more aligned with sales and focusing on conversions by stage. Historically, it’s always been about MQLs, but respondents pointed to some attraction around pipeline opportunity and SQLs. In terms of campaign measurement, respondents noted they are focusing most on:
In terms of campaign measurement, what are the metrics you focus on most?
- 56% MQLs
- 51% Deals closed / won
- 46% Pipeline opportunity
- 46% SQLs
- 24% Account management
At the middle of the funnel, respondents noted they are focused on lead conversion from MQL to SQL to opportunities and close/won (45%), as well as multitouch attribution for multiple channels (31%). For campaigns at the bottom of the funnel, they are focused on measurement opportunities converted to close/won (45%).
Marketing Attribution Benchmarks – Sales Metrics
When asked what metrics sales uses to measure marketing impact at the middle of the funnel, respondents to the Marketing Attribution Benchmarks survey highlighted:
- 45% Lead conversion from MQL to SQL to opportunities and closed/won
- 36% I’m not measuring marketing in the middle of the funnel
- 31% Multi-touch attribution for multiple channels
- 15% Conversion velocity
B2B Marketing Program & Campaign Metrics
The rise of ABM has led marketers to conduct separate measurement and attribution strategies on top of traditional inbound funnel metrics. Currently, 89% of respondents said they are measuring both.
In addition, 34% are doing separate measurement and attribution for ABM programs, while 40% stated they plan to within the next 12 months. Primary ABM metrics include:
Individual Campaign & Engagement Metrics Top Priorities In ABM Programs
- 55% We’re struggling to tie anonymous account engagement to known stakeholders
- 38% We’re struggling to map leads to their corresponding accounts
- 17% We’re struggling to tie ABM initiatives to closed/won business and revenue
However, challenges around measuring account engagement remain as 55% of respondents said they’re struggling to tie anonymous account engagement to known stakeholders.
Marketing Attribution Benchmarks – ABM Program Metrics
What are your primary metrics for measuring account-based marketing?
- 54% Influenced pipeline
- 41% Individual campaign and channel metrics
- 40% Conversion of engaged account to opportunity
- 36% Marketing Qualified Accounts (MQA)
- 33% Overall number of engaged accounts
- 31% Velocity of engaged accounts from opportunity creation to revenue
- 30% Acquisition costs
- 20% Incremental sales with existing customers
- 14% Customer Lifetime Value
Marketing Attribution Benchmarks – Challenges
Challenges With Data, Lack Of Resources Still Bumps In The Measurement Road
Aside from tracking specific activity between buyer stages, channels and campaigns, marketers are also still struggling with data quality when demonstrating marketing performance and impact. Specifically, 37% said they don’t have enough resources — compared to 41% last year
When asked how they are currently reporting marketing results, more than half (59%) use reports from web analytics, 58% use reports generated from marketing automation systems, and 54% use reports from CRMs. Key areas respondents are currently tracking include:
Web traffic (76%)
How are you currently reporting on your marketing results within your organization?
- 59% Reports from web analytics
- 58% Reports generated from marketing automation system
- 54% Reports from CRM
- 49% Manually with Excel-based reporting
- 42% Reports from email platform18% Dedicated measurement and attribution solution
What are some of the drivers increasing your focus on or need for deeper metrics?
- 67% Desire to show marketing’s impact on pipeline and revenue
- 61% Push to show ROI from all marketing investments
- 32% Interest in tracking velocity, progression between funnel stages
- 31% Improving marketing & sales alignment
- 30% Need to track specific investments by channel
Marketing Attribution Benchmarks – ABM Program Metrics
Marketing measurement and attribution continues to be both a priority and a challenge for most B2B marketers today. However, teams are making a big push to better align sales and marketing efforts and gain deeper metrics around buyer stages. This indicates a mature effort to track conversions across specific stages and weave these insights into ABM programs. Some of the drivers behind that push for deeper measurement include: Interest in tracking velocity/ progression between funnel stages (32%).
Respondents also noted a greater need to start measuring ROI by channel, as well as cross-channel engagement in the future. When asked which metrics they would like to use in the next 12-18 months, respondents said ConclusionROI by channel (56%).
Which of the following metrics would you like to use in the next 12-18 months?
- 56% ROI by channel
- 50% Cross Channel Engagement
- 45% Cost of Customer Acquisition
- 42% Deeper ABM metrics
- 41% Closed-won deal analysis
- 39% Customer Lifetime Value
Specifically, the areas marketers cited as driving their increased focus on deeper metrics include a desire to show impact on sales pipeline and revenue 67%:
- 50% of respondents said their biggest challenge to measuring marketing performance is the inability to measure impact across channels/campaigns.
- 56% of B2B Marketer’s focus on Marketing-qualified lead