Deal Creation Attribution

Eleven11
Top Contributor

Our team has a custom propety called "Deal Origin" that we use to track what sales/marketing effort was responsible for that deal being created. Typically the last interaction we had with a contact before the deal was created. 

 

Examples:

  1. Free Demo Request 
  2. Resource Library (lead visited our free resource library and sales followed up with someone who downloaded and it lead to a demo)
  3. Webinar (contact raised their hand on a webinar poll and said they wanted a demo, and sales created a deal)
  4. Email promo

The goal of this property is to help us identify which efforts are directly tied to more deals being created (more demos being requested). The issue we've come across is that we now have way too many options to select from. 42 different sources. This is too many for sales to wade through when manually creating a deal record. 

Are there better, more automated ways of tracking this and reporting on which efforts are driving deal creation? I know there are attribution reports, but those don't tell us exactly what is driving deal creation and there is the "Original Source" property under the deal that tracks where the associated contact came from (Organic search, offline, etc.), but that's more like first touch rather than what lead to the creation of a deal. 

Any tips or best practices?

0 Upvotes
7 Replies 7
TiphaineCuisset
Community Manager

Hi @Eleven11 

 

Thank you for reaching out! 

 

I want to tag some thought leaders regarding this - @Josh @warrendavey @AdamLPW @Mike_Eastwood any tips or best practices you could share with @Eleven11 on reporting on and identifying the sources of deal creation? 

 

Thank you!

Tiphaine


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Josh
Recognized Expert | Platinum Partner

Hi @Eleven11,

 

My initial suggestion is to try and bucket the sources a bit more conservatively. If there are different demo types, emails, webinars, etc. you could see that information in the analytics or potentially have a secondary source property. Some of these sources could also be tagged automatically through workflows.

 

Along with 42 being a hassle for sales reps, it also makes it difficult to make informed decisions based on the data. If your selections were more limited you could draw more concise conclusions and then dig further into the data for your highest performing sources. 

 

Without a lot of detail, those are my initial thoughts!

 

Josh

 

Thanks for the ping @TiphaineCuisset!




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Josh Curcio

HubSpot support and inbound marketing for OEMs, contract manufacturers, and industrial suppliers.
HubSpot Platinum Partner & HubSpot Certified Trainer

Eleven11
Top Contributor

Thanks @Josh! Great thoughts. I do agree we need to simplify. The thinking originally was that if we were more specific, we would know exactly which efforts to increase. However, since sales reps on opening deals on the fly while on a call, it's not realistic to expect accurate data if the field has so many options to sort through/consider on the call.  

When you mention analytics, which analytics/reports do you have in mind? Assuming we weren't using this "Deal Origin" property at all, if a sales rep opens a deal manually, which reports can we rely on to know what sales/marketing activity to credit for that deal?

 

 

Josh
Recognized Expert | Platinum Partner

Hi @Eleven11,

 

If the rep creates the deal manually, you'll need to rely on them to record the source (ideally through a property of some sort). 

 

As far as analytics goes, I would create reports based on closed deals and the associated contact activity. Even if a rep creates a deal manually if the individual did engage on the website and HubSpot knows who they are, you can pull together data. For example, I might pull a report that pulls the number of closed deals in which an associated contact has engaged with a demo page (either through form submission or page view).

 

Josh




Did this post help solve your problem? If so, please mark it as a solution.

Josh Curcio

HubSpot support and inbound marketing for OEMs, contract manufacturers, and industrial suppliers.
HubSpot Platinum Partner & HubSpot Certified Trainer

Mike_Eastwood
Key Advisor | Gold Partner

Hi @Eleven11 

 

We had a similar challenge with one of our clients using HubSpot Service Hub. They have 76 Categories and Sub Categories for Support Tickets. 

 

What we did is created a Category, then Sub Category (which cannot be done in HubSpot out of the box). When a Support Person wants to categorise a Ticket they click a button in the CRM that opens a window with a form.

 

In the form there is a dropdown select list with a Category (19 Categories) and a second dropdown with a dynamic select list for the Sub Category (if there is one).

 

The Category and Sub Category are actually in one [long] select list in HubSpot which means we can still use the native reporting features in HubSpot. 

 

And, in addition, you could use workflows to automate categorisation as @Josh suggested.

 

Let me know if this is useful and I can show you how we built the integration.

Mike

 

p.s. thank you for the mention @TiphaineCuisset 

Eleven11
Top Contributor

@Mike_Eastwood Thanks for the idea! 

 

The issue with the numerous options is that sales is manually opening deals and usually while on a call and we need to simplify the process/options.

Our goal with this "Deal Origin" property is to be able to have data on which sales/marketing activity are resulting in deals being created/closed. We can run reports and say that deals that were opened after someone raised their hand on a webinar are created twice as often as deals that are created when someone fills out a demo request form on our website, but they are 10% as likely to close. 

Are there any other ways you know of that companies are tracking where a deal came from (besides the original source of the contact)? 

Mike_Eastwood
Key Advisor | Gold Partner

Hi @Eleven11 

 

Historically HubSpot has been Contact focussed (Workflows on Deals are comparitively recent) so I would look for Contact Properties (for Contacts that have a Deal Associated) and use the various fields in the Contact to gather intel.

 

Have you played with Lead Scoring (assuming you have an Pro HubSpot Account)?

 

More complex attribution is achievable with Custom Code... but that would require some detailed analysis and planning... and then some code to be written.

 

I agree, it best to automate where possible – nobody likes to record detailed logs on interactions especially Sales People (and me).

 

Mike