It’s a harsh realization for marketers, but it’s true: in this day and age, vague claims about branding and awareness are no longer enough to justify an investment in many marketing initiatives.
It’s not that these aren’t worthwhile goals (after all, selling a product becomes a lot more difficult when no one’s ever heard of it). But we’ve entered a new era of marketing accountability, where marketers need hard data to show what’s working and what’s not, and to prove their contribution to overall ROI. So how do you prove that your efforts are actually bringing in results?
Enter, closed-loop ROI reporting.
With marketing automation, you can tie prospects back to the campaigns that originally created them, providing insight into individual campaign performance (and hopefully giving marketing a share of the glory). Even if the prospect did not convert on that first point of contact, tracking can retroactively identify that initial touchpoint and attribute the lead back to its source.
The implications here are huge: not only can marketers prove their worth and justify the investment of budget in their initiatives, they can also use this information to improve their efforts and increase their impact on the bottom line. See where the best leads are coming from, prioritize outlets and channels accordingly, and have your automation platform send you regular reports to keep yourself updated.
Still a little unsure of how it all works? Check out the graphic below for a visual explanation of how closed-loop ROI reporting works with marketing automation. And be sure to download our free eBook, How Automation Works: A Visual Guide, for more helpful visualizations.