While George hit a big birthday and is sulking about the lack of attention such a big occasion garnered, Kevin didn’t even get an invite!
Thankfully reporting in B2B marketing shouldn’t cause you anywhere near as much drama!
This week, we’re continuing to deepdive into how to improve your reporting by looking at some common topics that come up when it comes to reporting on B2B marketing activities.
We talk about our approach to funnels, sales and marketing alignment, attribution and much more.
In this episode of “The B2B Playbook” podcast, we’re diving into the topic of reporting and how to improve it as a business scales.
The Concept of Funnels
We talk about the concept of funnels and explain that while the traditional view of a funnel with stages of awareness is outdated, it can still be useful to represent information in a funnel format and highlight different metrics relevant to each stage of awareness.
Coordinating with the Sales Team
We emphasize the importance of coordinating with the sales team and offer a few ways to improve this relationship:
- Meeting with sales leads to establish shared metrics and reporting cadence
- Providing a system for sharing qualitative insights between the teams
- Building a shared report that clearly outlines responsibilities, metrics, and qualitative feedback
- Regularly reviewing and updating the report with the goal of improving the HIRO metric (High intent revenue opportunity)
The Importance of Testing and Experimentation
In addition to coordinating with the sales team, we also discuss the importance of testing and experimentation in reporting. By regularly testing and experimenting with different metrics and attribution models, businesses can gain a better understanding of what is driving growth and make data-driven decisions. We recommend starting with a simple attribution model and gradually increasing complexity as data allows.
Attribution models are a key part of reporting, as they allow businesses to accurately assign value to marketing efforts. Without attribution, it can be difficult to determine which tactics are driving the most value and ROI. We recommend experimenting with different attribution models to find the one that best fits the business and provides the most accurate and useful insights.
Overall, this episode provides valuable insights on how to improve reporting and optimize B2B marketing workflow. By coordinating with the sales team, regularly reviewing and updating reports, and experimenting with attribution models, businesses can cement their position as experts in their field and drive growth.
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