Data-Driven Marketing ROI with HubSpot's New Advanced Reporting Tools
by Growth Marketing Firm, on Mar 1, 2023 12:37:46 PM
Having tools in your tech stack that can tie your marketing efforts to revenue - AND provide insights so you can pivot in real time - is more valuable now than ever.
And HubSpot gets that.
So, on March 1, 2023, HubSpot will release “Advanced Marketing Reporting” - an umbrella term that covers the use of two new powerful HubSpot tools available as of that date in Marketing Hub Enterprise:
Let’s get into why this is needed specifically now.
Why Advanced Marketing Reporting Now?
Marketing teams have found it to be harder and harder to measure the effectiveness of their campaigns and understand which assets are driving conversions.
So, HubSpot made it easier (and way more efficient!) by adding these two new tools to their already robust reporting systems and analytics tools.
By combining these two new features, enterprise marketing teams can get super granular with all their unified data for specialized, advanced reporting and insights.
This advanced data can then be used to:
- measure the effectiveness of marketing campaigns
- track revenue generated by every marketing effort and customer interaction
- make informed decisions about future marketing strategies
“Advanced Marketing Reporting” is what happens when you combine HubSpot’s two new tools to strategize and gain insight into how specific conversion paths and marketing assets affect your bottom line.
So, let’s get a look at the new tools, shall we?
Multi-Touch Revenue Attribution
Multi-touch Revenue Attribution is designed to help businesses assign credit to marketing tactics and teams with built-in attribution modeling based on the impact on revenue.
This tool enables businesses to measure success across seven different multi-touch attribution models, providing deep insights into the effectiveness of marketing campaigns.
Here are some of the key features and benefits of HubSpot's Multi-touch Revenue Attribution tool:
- Attribution modeling
- Seven different models
- Macro revenue insights
- More robust data decision-making
Here’s a closer look at these features.
Attribution modeling is a method used to figure out how much credit to assign to each marketing channel and tactic for contributing to a desired outcome or conversion, such as a sale, a lead, or a form fill.
This method provides a clear understanding of how different marketing efforts contribute to overall results, enabling businesses to make data-driven decisions about future campaigns and allocate resources more effectively.
Seven different models
With Multi-touch Revenue Attribution, companies can measure success across seven different multi-touch attribution models:
- Position-based, and more.
This provides a comprehensive understanding of the effectiveness of marketing efforts and helps businesses make informed decisions about future campaigns.
Macro revenue insights
Multi-touch Revenue Attribution is great for understanding macro revenue insights.
It enables businesses to answer questions such as:
- Which campaigns generated the most new leads
- What marketing assets created the most deals
- Which social media channels influenced the most revenue
- Which campaigns generated the most revenue
By using data to provide deep insights into the effectiveness of marketing campaigns, Multi-touch Revenue Attribution helps businesses make better decisions about future campaigns.
With it, businesses can identify the most effective marketing tactics, allocate resources to the campaigns that generate the most revenue, and more.
Customer Journey Analytics
Customer Journey Analytics helps businesses determine the impact of each interaction a contact has by analyzing conversion rates, the time between touchpoints, and more.
By analyzing a variety of data like these, this HubSpot tool enables companies to gain deeper insights into their customer’s journey toward their business.
Here are a few key features of HubSpot's Customer Journey Analytics tool:
- Impact analysis
- Micro conversion rate insights
- Deeper insight into the customer journey
- Better decision-making
Let’s get a more detailed look at these features.
Customer Journey Analytics provides factual information about how each marketing interaction a contact has impacts revenue.
The tool literally analyzes (and can project) conversion rates based on the time between touchpoints.
This data can be used to identify which interactions are most valuable and allow businesses to allocate resources accordingly.
Micro conversion rate insights
Customer Journey Analytics helps businesses understand micro conversion rate insights to enable businesses to answer questions such as:
- What would be the impact on sales if we stopped running paid ads?
- Do our leads from comarketing sources need more nurturing to become SQLs?
- Are our nurturing flows from last month's webinar working?
- Where do customers fall off in our multi-step application process?
Deeper insights into the customer journey
By analyzing a variety of data, this tool provides deeper insights into the customer journey by showing you how each interaction contributes to that journey overall - and it identifies areas where improvements can be made.
By providing deeper insights into the customer journey, Customer Journey Analytics helps businesses:
- make better decisions about future campaigns
- identify which interactions are most valuable
- allocate resources to the most effective campaigns to help save (and prove) marketing ROI
HubSpot's Customer Journey Analytics tool is set to be a game-changer for businesses looking to gain deeper insights into the journey their customers make on the way to their businesses.
And it helps improve the customer experience, which we all know increases revenue.
A Tale of Two Tools: Next-Level Insights
By combining HubSpot's new tools, Multi-touch Revenue Attribution and Customer Journey Analytics, businesses can recession-proof their marketing efforts by gaining comprehensive reporting, deeper insights into the customer journey, data-driven decision-making, and justifying their marketing budgets.
These tools enable businesses to make more informed decisions about future campaigns and ensure that their marketing efforts are generating a clear return, even in times of economic uncertainty like these.
To find out more about HubSpot's new updates and features, talk to us.
We’re HubSpot Diamond Solutions Partners, and we’ve got a team of experts in the top 2% of HubSpot providers globally - ready at all times to provide onboarding, optimization, and advanced support for all things HubSpot, including CMS migration and website design and development on HubSpot CMS.