Getting Started with Marketo Bizible for Marketing Attribution

In today’s marketing landscape, tracking and measuring the performance of various channels is crucial for success. This is where Marketo Measure, formerly known as Bizible, steps in. Designed to give businesses a clearer picture of how their marketing strategies contribute to revenue, Bizible helps Marketing Operations (MOPS) professionals and startups make informed decisions.

But how do you get started? Let’s break it down.

What is Marketo Bizible?

Marketo Bizible is a marketing attribution solution that tracks and evaluates the effectiveness of your marketing efforts across different channels. From first interactions to closing deals, Bizible gives you the data-driven insights you need to understand which channels, campaigns, and touchpoints are driving revenue.

In a nutshell, Bizible answers the crucial question: Which of your marketing tactics are paying off?

Why is Attribution Important?

Marketing attribution is the process of assigning value to each marketing touchpoint in the customer journey. These touchpoints can include everything from social media interactions, blog visits, paid ads, to a click on an email link.

Why should you care? Well, without attribution, you’re flying blind, unsure of which campaigns or channels are responsible for your success—or failures. Bizible makes this process more transparent by capturing insights like:

• First Touch (FT): The first interaction a customer has with your brand.
• Last Touch (LT): The final interaction before a lead converts.
• Opportunity Creation (OC): The key interaction that turns a lead into a serious opportunity.
• Customer Close (CW): The final stage, where a prospect becomes a customer.

Focusing solely on first or last touch can lead to an incomplete picture. Bizible, however, supports multi-touch attribution, so you can track the entire journey.

Attribution Models to Help You Succeed

To truly measure the effectiveness of your marketing strategy, you need the right attribution model. Bizible provides several, and here are a few:

• U-Shaped Model: This model emphasizes both the first and lead-creation touchpoints, giving them equal credit, with some credit sprinkled across intermediary touchpoints.
• W-Shaped Model: Adds opportunity creation to the mix, splitting credit among three key touchpoints: first touch, lead creation, and opportunity creation.
• Full Path Model: Tracks the entire journey, from first touch to customer close, giving equal credit to all key touchpoints along the way.

These models give you the flexibility to assign credit where it’s due, based on what matters most to your business goals.

Practical Features of Bizible

So, what can you do with Bizible beyond just attribution? Here’s a quick look at its practical applications:

1. Pre-built Dashboards: Bizible provides out-of-the-box dashboards that make reporting easy. Want to know which channels drive the most revenue or see a breakdown of your marketing spend? It’s all there.
2. CRM Integration: Bizible integrates seamlessly with your CRM, such as Salesforce, enabling deeper insights and the ability to create custom reports directly in your CRM environment.
3. Multi-Channel Tracking: Bizible captures touchpoints across all marketing channels, whether digital (like paid ads and social media) or offline (like events and sales meetings).
4. Campaign and ROI Tracking: Need to know how much revenue a specific campaign generated? Bizible’s ROI tracking tools provide a clear picture of your marketing investments and their returns.

Why Bizible is Perfect for Startups and MOPS

For startups, Bizible is a game-changer because it offers clarity on where to invest limited marketing resources. You can see which channels are effective for early growth, optimize your spend, and refine your strategies based on concrete data.

For MOPS professionals, Bizible simplifies the complexity of marketing operations by providing actionable insights. Whether you’re managing a huge team or running solo, Bizible’s dashboards and attribution models help you optimize performance across every stage of the funnel.

Getting the Most Out of Bizible

To make the most of Bizible, ensure you set it up correctly. Connect your CRM and configure your attribution model to match your business’s unique needs. Regularly review dashboards to spot trends and make data-driven adjustments.

Final Thoughts

Getting started with Marketo Bizible doesn’t have to be overwhelming. Whether you’re working in a startup or managing complex marketing ops, this tool gives you the power to understand your marketing impact and refine your strategies accordingly.