Every marketer wants to know which spending across the customer funnel had the biggest impacts on generating leads, closing sales, or reaching other goals.
Attribution service Bizible sifts through marketers’ data — sales records, customer relationship management files, ad networks, web sites and the like — to show which parts had what kind of impact. It’s a look back at the completed information, to determine what efforts should receive more credit.
The platform has offered that analysis through five out-of-the-box models that are designed for different use cases. In those use cases, the weight given to a specific component — such as product demonstrations — was fixed.
But a client company may want a custom weighting, CEO Aaron Bird told me, because it knows something the data doesn’t show, such as “demos almost always lead to closing a sale.”
This week, Bizible launches what it says is the first do-it-yourself custom attribution service for B2B businesses, backed by machine learning recommendations. Some other B2B attribution services offer custom modeling, Bird said, but only when their clients employ the services’ staff to set it up on a case-by-case basis.
Clients can manually set their own percentages to weigh specific parts of the funnel differently, giving customized credit to various parts of marketing, advertising or sales efforts.
Machine learning makes recommendations as to weighting, based on an automated analysis of the relative impacts. Here’s a screenshot of the new custom modeling, showing the five fixed models, plus the machine learning recommendation and a field for customization:
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