VWO Webinar: Here’s How You Turn Your Channel Metrics Into Revenue
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In this webinar, we are partnered with planning and attribution expert, Bizible, to discuss ways to tie your marketing strategy with the metric that really matters—your revenue.
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VWO Webinar: Here’s How You Turn Your Channel Metrics Into Revenue
- 1. Optimizing Indicators to Nail Your Goals Utkarsh Rai Growth Marketer, VWO Jordan Con Manager, Product Marketer, Bizible
- 2. #AskVWO
- 3. Marketing Data: Siloed in Channels EVERY CHANNEL HAS DIFFERENT SUCCESS METRICS EVENTS Optimize EMAIL Optimize PAID MEDIA Optimize WEB Optimize SALES DEV Optimize Badge scans/ registrations Open rate, click rate CPM, CPC, CPL Pageviews, bounce rate Calls, emails sent MEASURE PLAN
- 4. ...Which Causes Problems 1. Siloed Data 2. Inaccurate ROI Reporting 3. Bad Marketing Decisions
- 5. Marketing Data: Siloed in Channels EVENTS Optimize EMAIL Optimize PAID MEDIA Optimize WEB Optimize SALES DEV Optimize MEASURE PLAN REVENUE ALIGN CHANNELS TO REVENUE
- 6. Plan, Engage, and Measure for Revenue MEASURE PLAN REVENUE ENGAGE Optimize
- 7. Version A Version B
- 8. *Confidential – Do Not Distribute Version A: Growth Version B: Revenue Growth Clicks 2000 1700 CTA Clicks 110 120 Standard A/B Test Metrics
- 9. *Confidential – Do Not Distribute Standard A/B Test Metrics My test generated 10% more CTA clicks! OK
- 10. *Confidential – Do Not Distribute Version A: Growth Version B: Revenue Growth Net New Contacts 75 90 Net New ABC Contacts 45 45 SMB/MID Contacts 20 30 COM/ENT Contacts 25 15 Demand Gen
- 11. *Confidential – Do Not Distribute Demand Gen My test generated 66% more ENT contacts! Nice!
- 12. *Confidential – Do Not Distribute Version A: Growth Version B: Revenue Growth Net New Opportunities 57 43 Revenue $825,000 $475,000 Full Funnel
- 13. *Confidential – Do Not Distribute Full Funnel My test generated 75% more revenue Awesome! Here’s more budget to do it again!
- 14. *Confidential – Do Not Distribute Applying this across channels
- 15. Why are we testing? What’s the ultimate goal?
- 16. Plan, Engage, and Measure *Confidential – Do Not Distribute MEASURE PLAN ENGAGE Optimize
- 17. ● What are your indicators of success? ○ In other words, what action do we want people to take? ● Who do we want to take the action? ● What’s the ultimate goal? Step 1: Plan
- 18. 1. Create your hypothesis, your version B a. I.e., If I use different headline copy on the homepage, will it increase revenue from the homepage? 2. Design test — how will you achieve the goals you set out for Step 1? 3. Launch test! Step 2: Engage
- 19. Good: Lift Do your indicators correlate with aggregated revenue lift? (i.e., Are you beating your benchmarks?) Step 3: Measure Better: Influence At the opportunity level, are opps that are exposed to version A more or less likely to become revenue than version B? Best: Revenue Attribution Bizible + VWO—connect your experiment to revenue attribution and directly draw the line to revenue
- 20. Step 3: Measure Digital Marketing Field & Offline Marketing Data Collection (Bizible Person) JavaScript Ad API Connections Marketing Automation Chat View- Through Call Tracking CRM Campaigns Activity Tracking • Auto capture cost & ROI data • No UTMs necessary • Track all email campaigns & programs • Track campaigns & responses • Direct mail, events, syndication • Can pivot on multiple outcomes Track pre- anonymous activity • Auto track outbound calls & emails • Custom config. • Track all anonymous & known sessions • Track organic (SEO), direct, web referral • Landing page & form URL data • Auto capture UTMs and referral data Bizible Person Record Creates 1st Party Marketing Data Touchpoint Credit Sales Dev • Track inbound calls A/B Testing
- 21. Step 3: Measure 26% 22% 20% 10% 7% 5% Demo Opportunity CreationMQL Lead Creation Deal/ Revenue Anonymous First Touch SEO Version B
- 22. Step 3: Measure 26% 22% 20% 10% 7% 5% Demo Opportunity CreationMQL Lead Creation Deal/ Revenue Anonymous First Touch SEO Version B ● This person clicked on a CTA when served Version B ● Registered as a click ● Registered as a CTA click ● Will become an opportunity ● Becomes part of a deal with closed won revenue
- 23. Step 3: Measure 20% MQL Version B 1. Version B of the experiment generated 20% of that deal’s revenue 2. Aggregate all of Version A and Version B revenue 3. Determine the winner based on revenue
- 24. Think about all the tests and optimizations you made this year... ● What were you trying to achieve? ● Was your success metric tied to business impact? ● Could you prove the revenue impact? Takeaways
- 25. Thank You! Q&A