Understanding and reporting marketing revenue performance often requires complicated and manual processes, such as pulling data from costly integrations and spreadsheets, patching together reports, and relying on analysts.
According to Forrester, ‘77% Marketing decision makers main concern is not being able to measure the results’.
If you are trying to get in a new market or driving a new product launch, you will want to measure the current campaign performance across audience segments, target market geographies, effective channels to market, effective programs and revenue performance. This is where Marketo Performance Insights (MPI) can help you analyse performance with little effort. MPI helps you optimize your channel mix for maximum effectiveness, as well as uncover long-term trends to spot consistent winning strategies to make more informed decisions and right investments. An independent add-on to the already purchased marketo instance, it does not require to be integrated with any other analytics products. MPI is applicable to all Marketo customers to get value quickly, but, it doesn’t come free.
MPI is certainly changing the way marketers perform revenue and campaign attribution. With only just a handful of metrics, that align with your team’s performance management strategy, you can derive engagement, pipeline and revenue drilldowns. Here is a quick reference –
- Engagement: Effectiveness of your program, nurture can be measured. You can also measure audience engagement based on the success event.
- Pipeline: Channel performance can be measured based on first touch and multi touch metrics such as new opportunities, pipeline created, pipeline open, expected revenue.
- Revenue: Shows the channel performance based on first and last touch metrics. It has metrics like opportunities won, revenue won, cost per opportunity won.
These dashboards can totally be customized and sliced and diced to suit the analysis needs. You can select the metric you want to view & the performance duration and it will be represented in the form of graphs (illustrated below).
MPI, provides marketers a view of campaign performance from top-of-funnel engagement to revenue impact with features like:
- Minimal setup
- One click access
- Flexible filters
- In built dashboards
- Effective optimization
Having said that, there are some prerequisites to setup and leverage MPI, mainly, channels, success rate, acquisition program, acquisition date, program cost, attribution strategy and opportunities.
Zensar has enabled strategic clients in building Campaign strategies based on insights provided by MPI, to the extent of hyper-personalized experience opportunities. The dynamic reports have proved successful in the quarterly business reviews. It also helped clients in making informative decisions around their business by calculating success rate across different channels, programs and campaigns. In summary, MPI can help derive powerful reports without going through complicated integrations. Ready to optimize your marketing budgets and need to gain insights on how to do so?
Speak to our marketing experts today.