Modern marketers know they get better outcomes when they make decisions based on data instead of intuition. To efficiently invest in marketing spend, they need accurate attribution models that show which campaigns are generating the most leads and revenue. They also need funnel metrics to achieve maximum operational efficiency and drive continuous process improvement.
The marketing team at TripActions — all-in-one travel, expense, and corporate card solution — was looking for a big-picture view of funnel performance and better attribution models to achieve greater process and investing efficiency. The team had been using a hybrid solution built on the CRM, plus basic funnel and attribution tools from other solutions in a tech stack that includes dozens of disparate products.
The TripActions marketing team switched to Full Circle Insights to get the funnel metrics and attribution models it needs to engage in analytical marketing rather than relying on intuition or anecdotes. SVP of Growth and Systems Ryan Schwartz says Full Circle Insights is among the top three solutions in his tech stack now because it lets him demonstrate how marketing contributes to revenue and opportunities.
Why Enterprises Need to Get Marketing Attribution and Funnel Metrics Right
It’s important to understand that a term broadly used in the B2B sector, “marketing attribution,” has two components: campaign attribution metrics and funnel metrics. That’s not always clear in the solutions marketplace, which emphasizes campaign attribution metrics while skipping the funnel metrics component, possibly because so few solutions are designed to deliver accurate funnel metrics.
But both sets of metrics are critical for achieving efficiency, as the TripActions marketing team knows. Campaign attribution metrics show how marketing influences opportunities and revenue, which helps marketing leaders allocate spend more efficiently. With a good marketing attribution solution, marketers can assess campaign touches and assign credit. Different attribution models provide the insight marketers need to ensure campaign performance supports the overall marketing strategy.
Funnel metrics allow marketers to achieve process efficiency. By monitoring how leads flow from the top of the funnel through each stage to closed/won business status, marketers can make sure the volume, velocity, and conversion rates are in line to hit targets. They can identify and address bottlenecks, missed handoffs, and other process issues to continuously improve efficiency.
How Better Attribution Models and Funnel Metrics Drive Better Business Decisions
When Schwartz joined TripActions, he was familiar with Full Circle Insights’ capabilities since he’d used the software in a previous role at another company. With native CRM architecture, multiple trips through the funnel, point-in-time funnel reports, strong influence, and attribution models, and rich funnel stage and velocity metrics, Full Circle Insights ticked all the boxes.
After deploying Full Circle, TripActions saw a significant improvement in conversion rates and speed-to-lead metrics. Full Circle’s out-of-the-box and customizable attribution models enabled the team to invest more efficiently, using data to determine how to allocate spend. The big-picture view of funnel performance lets TripActions practice analytical marketing.
With Full Circle Insights, the TripActions team is also able to create accurate marketing forecasts. Schwartz says he develops granular models that accurately predict funnel stage volumes and velocities. He uses these metrics to keep teams on track and creates forecast models to enhance decision-making around demand gen, budgets, campaigns, and people at every funnel stage.
TripActions’ experience demonstrates that B2B marketers who embrace both sides of the efficiency equation — using attribution metrics for more efficient investing and funnel metrics to achieve more efficient processes — can thrive. With Full Circle Insights, TripActions can lead the travel management market instead of chasing it.
