The essence of ROI attribution within Salesforce Marketing Cloud

In an era where marketing strategies are becoming increasingly complex and the pressure to prove ROI is mounting, we are here to assist businesses in navigating these challenges. Many companies are faced with the challenge of accurately measuring the effectiveness of their marketing efforts and determining the ROI of each channel. This is essential to understand which channels contribute most to generating quality leads and ultimately to revenue growth. The goal is to gain a holistic view of customer and prospect interactions with marketing campaigns, and to use these insights to support strategic decisions.

In this blog, we delve deeper into how we measure the effectiveness of marketing campaigns and allocate ROI within Salesforce Marketing Cloud. With a focus on customer interactions, the use of UTM parameters, and connected campaigns, we demonstrate how we gradually move closer to a 360-degree view of customers and generate valuable insights. With these insights, you can make more data-driven decisions.

Whether you are a distributor of solar panels or a manufacturer of processed wood, you will always invest in various marketing channels, including email marketing, social media advertising, and search engine optimization, to increase brand awareness and generate more traffic to your website and opportunities.

Challenge

You are faced with the challenge of accurately measuring the effectiveness of your marketing efforts and determining the ROI of each channel. You want to understand which channels contribute most to generating quality leads and ultimately to revenue growth. However, you lack the necessary insights and tools to achieve this.

Solution

At HAVIK, we understand the importance of accurate attribution and ROI allocation in the success of marketing efforts. Together with our clients, we set up an attribution model within Salesforce Marketing Cloud to measure the effectiveness of your marketing campaigns and allocate ROI accurately. We do this through the following steps:

1. Analysis & Governance

First and foremost, it is important to have visibility into the channels through which you communicate and how new leads or upsell opportunities arise. This allows you to create a clear and consistent structure that can be used by all parties involved in advertising or other marketing/sales activities.

2. Attribution Model with UTM Parameters

To begin, we use UTM parameters to make a clear distinction between different attribution models, such as first touch and multi-touch attribution. By adding these parameters to our campaign links, we can track customer and prospect interactions with our marketing campaigns from the initial touchpoint to conversion.

3. Connected Campaigns

Next, we use connected campaigns within Salesforce Marketing Cloud to get an integrated overview of the different touchpoints. Touchpoints can be broadly perceived, ranging from events to newsletters, offline sales activities, direct marketing, etc. By connecting all campaigns, channels, and touchpoints, we can create a holistic view of the customer journey and understand the impact of each interaction on the final ROI.

4. Reporting

The key findings are presented, and results of the attribution model are shared, with a focus on measuring ROI and optimizing marketing efforts. Over time, you can also incorporate your costs to gain a 360-degree view of the total ROI of your campaigns.

Value Added

Thanks to this approach, we have realized significant value for our clients. Firstly, we provide them with a deep understanding of the effectiveness of their marketing campaigns, enabling them to make better-informed decisions about their marketing budgets and strategies. Additionally, we create a 360-degree view of customers by tracking and analyzing their interactions with our campaigns, enabling our clients to provide personalized and relevant marketing experiences, leading to higher engagement and conversion. In short, by using a thoughtful approach to attribution, you can optimize your marketing efforts and maximize their ROI.

Results

Gain a deep understanding of the effectiveness of your marketing campaigns and the contribution of each channel to the final ROI.
Allocate your marketing budgets more effectively and optimize your strategies for maximum impact.
Create a 360-degree view of customers and provide personalized marketing experiences, leading to higher engagement and conversion.

Interested in how we can improve your marketing efforts by using a thoughtful approach? Let’s have a chat!

Havik

The Essence of Effective Marketing Attribution and ROI attribution within Salesforce Marketing Cloud