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dmastin
by: HubSpot Product Team
HubSpot Product Team

Deal Create Attribution: A New Way to Measure Marketing’s Impact [Part 1 of 2]

“How many conversions did marketing generate?”

 

Every tenured marketer has been asked this question, as well they should. After all, what’s the point of website traffic, webinar attendance, or opened emails if they’re not driving toward a meaningful goal or KPI?

 

Thanks to multi-touch revenue attribution reporting, marketing and sales leaders alike can tie the conversions they generated to revenue. Meanwhile, further upstream, contact create attribution reporting helps marketers understand which efforts created contacts in the first place. (Contact creation is often used interchangeably with ‘lead generation.’)

 

But to get newly created contacts to convert to customers, there’s a whole lot of nurturing involved. As a marketer, whether you’re in charge of generating MQLs, SQLs, or another lead status entirely, there’s often a key milestone to delineate the success of a marketer: generating deals for sales.

 

To help marketing leaders understand which of their efforts is creating open deals, HubSpot has introduced Deal Create attribution reporting.

 

Why HubSpot created an attribution report to specifically answer what led to created deals

 

The attribution landscape is massive -- and still growing, as of the publication of this blog post. While (user-friendly) revenue attribution software solutions have been around for nearly a decade, one of the biggest reasons the number of attribution vendors is still growing is because marketers need to measure their success against an ever-growing list of goals. Look no further than the fact that G2 added a mobile attribution category just to account for software solutions that best map the customer journeys of mobile app downloads. If Kings of Leon releasing their album on crypto wasn’t enough proof that we’re living in the future, the fact that there’s enough demand for a mobile attribution platform to warrant its own G2 category should be.

 

Jokes aside, the idea that there’s more to attribution reporting than just revenue is exactly why after countless hours of customer interviews, we honed in and built such a specific attribution report.

 

This blog post will walk you through how to use the deal-create attribution report. With proper analysis, this report can help you identify which marketing efforts successfully create deals (hence the name), regardless of the outcome of the deal. Not only can this report help to optimize your middle-of-the-flywheel (or ‘MOFU’) efforts, but you can take these insights to re-create more campaigns that generate more deals for sales to eventually close.

 

Requirements

 

  • Marketing Hub Enterprise
  • Deal create attribution measures contact journeys up to the moment the deal they’re associated with is created. For the purpose of deal create attribution analysis, we recommend creating deals (and associating contacts to the deal) at the moment you want to stop tracking the journey. For many marketers, this is sometimes called the ‘marketing-sales handoff.
  • If you’re trying to measure the journey of customers or closed-won deals, we recommend checking out our revenue attribution report.

Advice to Maximize Value From the Report

 

  • Host your website on HubSpot — we automatically categorize the types of pages your visitors view so you can see if blog, landing page, knowledge articles, listing pages, or general website pages are generating more contacts.
  • If you are hosting your website on another CMS like WordPress, you can still use our report. To ensure HubSpot can identify or categorize the different types of page views your visitors see, follow our tracking code instructions.
  • Connect your ad accounts to HubSpot to ensure these interactions receive credit.
  • Connect your social media accounts to HubSpot to ensure these interactions receive credit.
  • If your sales team generates contacts through email efforts, install HubSpot’s sales extension to track when these contacts are created and give your team credit.
  • Use HubSpot’s contact lifecycle stage property to mark when your leads reach important milestones.

Functionality Walk-Through

 

There are multiple ways to leverage HubSpot’s deal-create attribution, including on the deal record itself.

 

That’s right: every deal, regardless of stage, has two embedded deal-create attribution reports on the sidebar. You can toggle between the content that led to that deal being created or see a timeline of when the interactions that led to that deal being created happened. ‘Show all interactions’ will package this information neatly into a table that can be saved to a dashboard. ‘Open attribution report builder’ will take you directly to the builder and filter the attribution report to just show that one deal. Both of these are great for account-based marketers who want to examine or cut the attribution data in different ways. 

 

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But where the magic happens is inside the attribution report builder. You can find the deal-create report under the custom reporting menu within Attribution Reports, located either through your dashboard or under Reports Home:

 

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Select Attribution, Deal Create, and hit next. You will be taken to the Explore tab, which will offer example reports of how to view the different ways your marketing efforts are creating deals. You can click view to see the different dimensions:

 

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Like all of HubSpot’s attribution reporting, you can learn about the specific attribution models we support:

 

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Once you feel comfortable with how to interpret the models, click Configure to begin building your report.

 

Let's go step by step through using and understanding each filter and dimension feature.

 

Chart type

 

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The reports will default to "Bar," but you can toggle to different Chart types depending on your visual preference. The Pie Chart and Donut Chart display what percentage of contacts were created by a particular marketing effort. In this example, you can quickly tell that landing pages accounted for nearly 44% of deals created:

 

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Date filters

 

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Deal create date allows you to see all the deals created within a selected time frame. The custom date range allows you to choose any range that doesn’t come out of the box.

 

Filters

 

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I will define the most commonly used filters among other HubSpot users and why they are important to consider using when building a deal create attribution report:

Deals allows you to choose an individual deal or multiple deals. You can then see all of the interactions, content types, etc. the contacts associated to the deal(s) engaged with before the deal was created. (If you change the data dimension to "Deal," you will see the names of the deals on the x-axis.)

 

Deal pipelines allow you to filter deals based on the pipeline they’re associated with. This is great for organizations with multiple sales channels or larger organizations.

 

Campaigns is one of the most used filters, as this allows you to filter your attribution report to only include the interaction, assets, sources, and deals that were impacted by a specific campaign. If you’re associating multiple assets to a campaign, this can make the report even stronger, as you can begin to quantify the strengths and weaknesses of your campaign.

 

Last but not least, Asset type is the most popular and most powerful filter, as this allows you to hone in on specific assets. Whether you want to hone in on a specific asset, only want to analyze the assets you manage, or you want to remove noise, familiarizing yourself with this filter is key to generating rich attribution insights.

 

Blog continued in Part 2...