Marketing automation technology has transformed B2B companies’ abilities to run and optimize multiple high volumes of complex campaigns. Without it, it would be impossible to scale the kind of detailed tracking and reporting that is necessary for delivering and optimizing customized, dynamic buyer journeys.
In the context of B2B marketing, attribution is the process of understanding what actions or engagements with your brand were responsible for driving leads through the sales funnel until closing a deal. Through designing attribution models, marketing and sales can determine what actions are generating business results and make data-driven decisions about where to invest for more effective nurture strategies.
But building an attribution model for today’s buyer journeys is no easy task. Long sales cycles mean it is hard to pinpoint which engagements with your brand are truly impactful. Leads interact with your brand on a variety of channels, and it can be difficult to identify the right dials to tune to drive multiple decision makers down one sales funnel.
It has long been accepted that enterprise purchase decisions are not typically made by individuals, but by buying groups of individuals with different roles, considerations, and inputs into decision-making processes. However, many B2B companies have failed to align their Demand Generation motions with this reality and continue to acquire and nurture individuals instead of buying groups. As a result, organizations are failing to optimize the true revenue opportunity and return on marketing investment from lead generation. According to data from the Sirius Decisions Command Center, 98% of automation qualified leads (AQLs) fail to convert to actual revenue.
In contrast, buyer group-based lead qualification is driving the future state of Demand Generation strategies. Here are some tips for how to build a Demand Generation model that identifies and nurtures buying groups.