Pipeline Visionaries Being Led Astray: First- and Last-Touch Attribution
This episode features an interview with Bill Macaitis, Founder & CEO, SaaS CMO Pro, where he shares growth strategies for SaaS and AI companies. His past roles include CMO positions at Slack and Zendesk, and SVP of Marketing at Salesforce.
Bill joins the podcast to discuss findings from a recent survey of over 300 B2B marketers that gives insights into marketing strategies and budgets. He shares what they learned about marketing versus sales budgets, the most common attribution model, and more.
Key Takeaways:
- Companies that are growing the fastest, invest the most in marketing. While cause and effect of that correlation is unclear, it’s an interesting finding.
- Pipeline generation was one of the most tracked metrics for CMOs, which is a nice move away from only looking at MQLs or leads. Unfortunately, awareness was rarely tracked, making it hard for marketing teams to invest in long-term initiatives.
- A lot of companies, 65 percent, continue to use first or last touch attribution models.
Quote:
- So, what we learned is a lot of companies, I think especially in their earlier stages - percent still use first- or last- touch. It's kind of crazy. I'm still shocked by it. I remember my time at Salesforce, I was running the marketing ops team at that point, along with a couple other teams, and I just did a deep dive into attribution. Like I really wanted to understand like, hey, how many touches are people having with us before they became a lead? And then how many touches before they became a customer? What we would see is people would have 10, 20, 30 interactions or touches with us before they became a lead, and then they'd have like another 20 or 30 before they became a customer. And just imagine giving all the credit to the very first or last thing. And by the way, it's one of the reasons Google got so big was because a very common last touch thing is they will search on your company name. Branded search, right? And it's like, oh, like the SEM guys are like, this is amazing, right? We need to spend more on Google because they're producing these massive deals. And it's like, well wait, what about all the stuff in the middle?
Episode Timestamps:
*(03:48) Marketing Strategies and Budgeting
*(22:31) Attribution Models in Marketing
*(26:44) Top Metrics for B2B SaaS and AI Companies
*(31:06) Marketing's Role in Revenue and Expansion
Sponsor:
Pipeline Visionaries is brought to you by Qualified.com. Qualified helps you turn your website into a pipeline generation machine with PipelineAI. Engage and convert your most valuable website visitors with live chat, chatbots, meeting scheduling, intent data, and Piper, your AI SDR. Visit Qualified.com to learn more.
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