In all my research on marketing technology thus far, I’ve noticed an underlying theme that just won’t go away.
Nobody uses just one marketing tool to get the job done.
Marketers work with stacks — groups of products that combine to provide the results they need — and not just across different marketing tactics, but within the same category.
Take analytics, for example.
An integrated campaign across multiple channels — from digital ads, social media, mobile apps, and marketing automation through to web analytics, and CRM — might require four or five separate tracking tools.
The data a marketer receives from this analytics stack is potentially fragmented, and a considerable amount of time and effort is spent trying to piece together an end-to-end picture of the customer journey.
Today, Datameer has announced its new Multi-Channel Marketing Analytics application to solve this problem. With this one tool, Datameer aim to provide marketers with an integrated view of all their data — from campaigns across every channel — to truly understand the behavior of leads that convert to customers. This is an emerging hot space in martech: insta-unicorn Domo plays here, as do Beckon and Origami.
But monitoring the entire funnel is difficult. I wondered: What are the biggest issues companies have in measuring everything from lead generation to result?
“Marketing executives are using multiple systems to execute integrated campaigns, and prospects interact with multiple campaigns across a variety of these systems,” said Azita Martin, chief marketing officer at Datameer. “However, the biggest issue marketers face is that they analyze customer interactions within the silo of each system. There is no easy solution out there that enables them to easily combine all types of data from CRM, marketing automation, web analytics, digital ads and social media ads to get a true understanding of the lead to customer journey in the sales funnel.”
Martin showed me the new Multi-channel Marketing Analytics platform in action. While a couple of the charts it produces did remind me a little of the London Underground map, there is no doubt that the information being provided is impactful and succinct.
The lead-to-purchase flow diagrams, in particular, illustrate perfectly how each interaction with a client — from emails to white papers, advertising to blog posts, giveaways to case studies — affects the buying process. Marketers can easily follow the path each client takes and see quickly which combination of materials and processes, across both the marketing and sales departments, affects the outcome.
Datameer is pulling in data from a wide variety of sources to make this happen, and that requires some sophisticated data management and signal deduplication.
”We pull data from Salesforce, Marketo, Google Analytics, Adwords and all social media ads including Twitter and LinkedIn,” Martin said. “In doing so, we have determined which system is the single source of truth for each data point. For example, Salesforce is used for the opportunity stage, including which leads become customers, while Marketo is used for campaign data.”
As a result, the product blends previously siloed and varied information into one solution, from which marketers can view a number of ways. Users can leverage Datameer’s 70+ prebuilt connectors extending the capabilities of the analytics app.
In addition, once business executives have identified the combination of the top-performing lead sources and marketing campaigns that convert leads into customers, users can then drill down into those top-performing channels.
For example, if your website is the top channel in the customer journey, you can see the common path on the website visited by leads that become customers versus those that do not, and optimize your website accordingly. You can also identify specific assets in that channel that have contributed the most to opportunities or closed deals, and compare that among other assets by dollar value of deals, number of deals, and conversion speed.
B2B marketers have big challenges ahead of them, especially when it comes to working out which actions result in positive outcomes.
”Marketers want to understand what channels, assets, and combinations of campaigns convert leads to customers,” Martin said. “By understanding the ‘journey’ of the leads that have become customers, Datameer helps marketers understand precisely that. Armed with that information, marketers can design nurture campaigns that encourage more leads to take the optimal path to conversion. It also enables them to focus their budget and resources on the right channels and assets.”
The product itself was borne out of an internal need for Datameer to better understand its wins and losses. The results so far?
“We have quadrupled the pipeline we generate each quarter for our sales team, using our own solution to understand our own lead-to-customer journey,” Martin said.
Datameer’s Multi-Channel Marketing Analytics application is available now.