Marketing analytics for SaaS companies: Making every touchpoint count
Director of Product Marketing
Robust marketing analytics for SaaS companies are the basis for making smart data-driven marketing decisions and accurately determining marketing ROI. In fact, CMOs spend almost 7% of their marketing budgets on marketing analytics because they understand the immense value they get from knowing exactly how their campaigns performed.
But as much as is already invested in SaaS marketing analytics tools and talent, there are still substantial gaps between what they need and what they get. In fact, a recent study by Gartner revealed that marketing analytics only influence about half of decisions. They also found that companies that use analytics to influence less than half of their decisions are often unable to prove the value of marketing, a very troubling case for marketing teams and leaders.
So why are marketing teams, even those with the latest technology, having so much trouble showing the true value they bring?
The answers range from “inconsistent data across different sources” to “difficulty accessing the data” to “not knowing what to do with the data” to “inability to perform real-time reporting and measurement” and more.
And unfortunately, the common solution is doing more of the same - even more messy data integrations and insufficient technologies that just add to the company’s tech debt.
At Sightfull, we’re aware of all the issues that organizations face when they try to effectively deploy and utilize SaaS marketing analytics (and analytics in general). Our mission is to enable them to improve their data-driven decision-making processes, without incurring additional tech debt, dealing with messy data integrations, and ending up with inconclusive signals.
2. Introducing SaaS Marketing Analytics from Sightfull
Sightfull is the first fully automated revenue analytics and optimization platform built for business users at SaaS companies, including Marketing Ops, RevOps and Sales Ops. Our various modules make it easy for users to find the answers to their most pressing business questions in just a few clicks.
After integrating with all your existing marketing and data systems, Sightfull provides hundreds of pre-calculated SaaS metrics out of the box. Business users can easily slice and dice this real-time data on multiple dimensions (region, product, customer segment, etc.) without having to ask data analysts to run queries and build reports for you anymore. In addition, Sightfull sends alerts whenever anomalies, variances and correlations are detected deep inside your data to make sure you never miss any revenue trends.
When it comes to marketing, there are tons of hard decisions that need to be made — from strategic decisions that relate to the entire GTM organization and all the way down to small tweaks that need to be made to specific campaigns.
To make those decisions, marketing and RevOps teams need real-time answers to questions such as:
- Which leads are converting to paying customers?
- Which campaigns generated the most revenue?
- Which regions and segments should we focus on?
- How can we help get accounts over the finish line?
In making these decisions, marketing’s veritable treasure trove of data is a double edged sword. On the one hand, a constant flow of new data is one of the basic products of a good marketing team. But on the other hand, having too much data can quickly become overwhelming and lead to so-called analysis paralysis. And just like leads aren’t worth much if they don’t end up as customers, data isn’t worth much if marketing can’t track, analyze and gather the actionable insights they need to make the right decisions.
The goal of Sightfull for Marketing (SaaS Marketing Analytics) is to enable marketing teams to leverage their hard-earned data and unlock its full potential. By connecting marketing data to the revenue data coming in from the rest of the GTM organization, it becomes far more accessible and actionable, allowing users to quickly make data-driven decisions on a daily basis.
Connecting lead and campaign data with the relevant sales deal data helps marketing create accurate attribution reports and assess the real impact of their activities. Making the huge amount of data on leads and campaign influences easily digestible and breakdown-able, accelerating the pace of discovery, insight and decision for business users.
Finally, through precise metrics and proactive reports, Sightfull drastically cuts down the distance between raw data and actionable insights. Marketing teams can change course on a campaign in real time or decide to quickly double-down on a new target audience, acting with data-driven confidence.
3. The New Approach to SaaS Marketing Analytics
3.1 Campaign Attribution
Track the reach, contribution, cost and return of each marketing campaign with live and historical data trends. Understand how different campaigns contribute to your sales pipeline and bookings.
3.2 Sales Enriched Metrics
Gain real-time visibility into how your marketing efforts and activities impact sales performance, deals, pipelines, and bookings. Make sure that your ideal customers are both reached and converted.
3.3 Leads and Account Performance
Measure how many leads and accounts are created, how they progress through your top-of- funnel and where they drop, the duration between key stages (e.g., MQL to Meeting), and how long it takes new accounts to go through the funnel, from lead to paying customer.
Here are a few examples of the many critical marketing questions you will be able to easily answer using Sightfull:
- Which campaigns bring leads that quickly turn into paying customers?
- How are specific accounts (ABM) progressing through the funnel?
- How many deals are attributed on first touch to specific campaigns?
- What is our ROI for each campaign over the last 4 quarters?
- Which campaigns performed the best in each region last year?
- Which channel should we invest in to win more enterprise deals?
- How do conversion rates change by stage for each product?
- Which types of leads are progressing fastest along the funnel?
- Are we creating enough strong leads to reach our annual targets?
Want to see how Sightfull's Marketing Analytics solution for SaaS companies can answer your business questions? Schedule a demo with one of our data analytics experts.