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• B2B Marketing Attribution Guide : How to Master It in 2024

  21 mai 2024, par Erin

  The last thing you want is to invest your advertising dollars in channels, campaigns and ads that don’t work. But B2B marketing attribution — figuring out which marketing efforts drive revenue — is far from easy.

  With longer sales funnels and multiple people from the same company involved in the same sales process, B2B (business-to-business) is a different ballgame from B2C (business-to-consumer) marketing.

  In this guide, we break down what B2B marketing attribution is, how it’s different, which tools you can use to set it up and the best practices.

  What is B2B marketing attribution ?

  Marketing attribution in B2B companies is about figuring out where your high-value leads come from — nailing down long customer journeys across many different touchpoints.

  

  The goal is to determine which campaigns and content contributed to various parts of the customer journey. It’s a complex process that needs a reliable, privacy-focused web analytics tool and a CRM that integrates with it.

  This process significantly differs from traditional marketing attribution, where you focus more on short sales cycles from individual customers. With multiple contributing decision makers, B2B attribution requires more robust systems.

  What makes marketing attribution different for B2B ?

  The key differences between B2B and B2C marketing attribution are a longer sales funnel and more people involved in the sales process.

  The B2B sales funnel is significantly longer and more complex

  The typical B2C sales funnel is often broken down into four simple stages :

  1. Awareness : when a prospect first finds out about your product or brand
  2. Interest : where a prospect starts to learn about the benefits of your product
  3. Desire : when a prospect understands that they need your product
  4. Action : the actual process of closing the sale

  Even the most simplified B2B sales funnel includes several key stages.

  

  Here’s a brief overview of each :

  1. Awareness : Buyers recognise they have a problem and start looking for solutions. Stand out with blog posts, social media updates, ebooks and whitepapers.
  2. Consideration : Buyers are aware of your company and are comparing options. Provide product demos, webinars and case studies to address their concerns and build trust.
  3. Conversion : Buyers have chosen your product or company. Offer live demos, customer service, case studies and testimonials to finalise the purchase.
  4. Loyalty : Buyers have made a purchase and are now customers. Nurture relationships with thank you emails, follow-ups, how-tos, reward programs and surveys to encourage repeat business.
  5. Advocacy : Loyal customers become advocates, promoting your brand to others. Encourage this with surveys, testimonial requests and a referral program.

  A longer sales cycle typically involves not only more touchpoints but also extended decision-making processes.

  More teams are involved in the marketing and sales process

  The last differentiation in B2B attribution is the number of people involved. Instead of clear-cut sales and marketing teams, revenue teams are becoming more common.

  They include all go-to-market teams like sales, marketing, customer success and customer support. In B2B sales, long-term customer relationships can be incredibly valuable. As such, the focus shifts away from new customer acquisition alone.

  For example, you can also track and optimise your onboarding process. Marketing gets involved in post-sale efforts to boost loyalty. Sales reps follow up with customer success to get new sales angles and insights. Customer support insights drive future product development.

  Everyone works together to meet high-level company goals.

  The next section will explore how to set up an attribution system.

  How to find the right mix of B2B marketing attribution tools

  For most B2B marketing teams, the main struggle with attribution is not with the strategy but with creating a reliable system that gives them the data points they need to implement that strategy.

  We’ll outline one approach you can take to achieve this without a million-dollar budget or internal data science team.

  Use website analytics to track touchpoints

  The first thing you want to do is install a reliable website analytics solution on your website. 

  Once you’ve got your analytics in place, use campaign tracking parameters to track touchpoints from external campaigns like email newsletters, social media ads, review sites (like Capterra) and third-party partner campaigns.

  This way, you get a clear picture of which sources are driving traffic and conversions, helping you improve your marketing strategies.

  With analytics installed, you can track the referring sources of visits, engagement and conversion events. A robust solution like Matomo tracks everything from traffic sources, marketing attribution and visitor counts to behavioural analytics, like clicks, scrolling patterns and form interactions on your site.

  Marketing attribution will give you a cohesive view of which traffic sources and campaigns drive conversions and revenue over long periods. With Matomo’s marketing attribution feature, you can even use different marketing attribution models to compare results :

  

  For example, in a single report, you can compare the last interaction, first interaction and linear (three common marketing attribution models). 

  In total, Matomo has 6 available attribution models to choose from :

  1. First interaction
  2. Last interaction
  3. Last non-direct 
  4. Linear
  5. Position based
  6. Time decay 

  These additional attribution models are crucial for B2B sites. While other web analytics solutions often limit to last-click attribution, this model isn’t optimal for B2B with extended sales cycles.

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  Use a CRM to integrate customer data from multiple sources

  Use your CRM software to integrate customer data from multiple sources. This will give you the ability to get meaningful B2B marketing insights. For example, you can get company-level insights so you can view conversion information by company, not just by person.

  Done effectively, you can close the loop back to analytics data by integrating data from multiple teams and platforms. 

  Implement self-reported attribution

  To further enhance the data, add qualifying questions in the lead signup process to create a hybrid attribution model. This is also known as self-reported attribution.

  

  Your web analytics platform won’t always be able to track the source of certain visits — for instance, “dark social” or peer-to-peer sharing, where links are shared privately and are not easily traceable by analytics tools.

  Doing self-reported attribution is crucial for getting a holistic image of your customer journey. 

  However, self-reported attribution isn’t foolproof ; users may click randomly or inaccurately recall where they first heard about you. So it’s essential to blend this data with your analytics to gain a more accurate understanding.

  Best practices for handling B2B prospect data in a privacy-sensitive world 

  Lastly, it’s important to respect your prospects’ privacy and comply with privacy regulations when conducting B2B marketing attribution.

  Privacy regulations and their enforcement are rapidly gaining momentum around the globe. Meta recently received a record GDPR fine of €1.2 billion for insufficient privacy measures when handling user data by the Irish Data Protection Agency.

  If you don’t want to risk major fines (or customers feeling betrayed), you shouldn’t follow in the same footsteps.

  Switch to a privacy-friendly web analytics

  Instead of using a controversial solution like Google Analytics, use a privacy-friendly web analytics solution like Matomo, Fathom or Plausible. 

  These alternatives not only ensure compliance with regulations like GDPR but also provide peace of mind amid the uncertain relationship between Google and GDPR. Google Analytics has faced bans in recent years, raising concerns about the future of the solution.

  While organisations governed by GDPR can currently use Google Analytics, there’s no guarantee of its continued availability.

  Make the switch to privacy-friendly web analytics to avoid potential fines and disruptive rulings that could force you to change platforms urgently. Such disruptions can be catastrophic for marketing teams heavily reliant on web analytics for tracking campaigns, business goals and marketing efforts.

  Improve your B2B marketing attribution with Matomo

  Matomo’s privacy-by-design architecture makes it the perfect analytics platform for the modern B2B marketer. Matomo enables you to meet even the strictest privacy regulations.

  At the same time, through campaign tracking URLs, marketing attribution, integrations and our API, you can track the results of various marketing channels and campaigns effectively. We help you understand the impact of each dollar of your marketing budget. 

  If you want a competitive edge over other B2B companies, try Matomo for free for 21 days. No credit card required.

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• 7 Fintech Marketing Strategies to Maximise Profits in 2024

  24 juillet 2024, par Erin

  Fintech investment skyrocketed in 2021, but funding tanked in the following two years. A -63% decline in fintech investment in 2023 saw the worst year in funding since 2017. Luckily, the correction quickly floored, and the fintech industry will recover in 2024, but companies will have to work much harder to secure funds.

  F-Prime’s The 2024 State of Fintech Report called 2023 the year of “regulation on, risk off” amid market pressures and regulatory scrutiny. Funding is rising again, but investors want regulatory compliance and stronger growth performance from fintech ventures.

  Here are seven fintech marketing strategies to generate the growth investors seek in 2024.

  Top fintech marketing challenges in 2024

  Following the worst global investment run since 2017 in 2023, fintech marketers need to readjust their goals to adapt to the current market challenges. The fintech honeymoon is over for Wall Street with regulator scrutiny, closures, and a distinct lack of profitability giving investors cold feet.

  Here are the biggest challenges fintech marketers face in 2024 :

  • Market correction : With fewer rounds and longer times between them, securing funds is a major challenge for fintech businesses. F-Prime’s The 2024 State of Fintech Report warns of “a high probability of significant shutdowns in 2024 and 2025,” highlighting the importance of allocating resources and budgets effectively.
  • Contraction : Aside from VC funding decreasing by 64% in 2023, the payments category now attracts a large majority of fintech investment, meaning there’s a smaller share from a smaller pot to go around for everyone else.
  • Competition : The biggest names in finance have navigated heavy disruption from startups and, for the most part, emerged stronger than ever. Meanwhile, fintech is no longer Wall Street’s hottest commodity as investors turn their attention to AI.
  • Regulations : Regulatory scrutiny of fintech intensified in 2023 – particularly in the US – contributing to the “regulation on, risk off” summary of F-Prime’s report.
  • Investor scrutiny : With market and industry challenges intensifying, investors are putting their money behind “safer” ventures that demonstrate real, sustainable profitability, not short-term growth.
  • Customer loyalty : Even in traditional baking and finance, switching is surging as customers seek providers who better meet their needs. To achieve the sustainable growth investors are looking for, fintech startups need to know their ideal customer profile (ICP), tailor their products/services and fintech marketing campaigns to them, and retain them throughout the customer lifecycle.

  

  The good news for fintech marketers is that the market correction is leveling out in 2024. In The 2024 State of Fintech Report, F-Prime says that “heading into 2024, we see the fintech market amid a rebound,” while McKinsey expects fintech revenue to grow “almost three times faster than those in the traditional banking sector between 2023 and 2028.”

  Winning back investor confidence won’t be easy, though. F-Prime acknowledges that investors are prioritising high-performance fintech ventures, particularly those with high gross margins. Fintech marketers need to abandon the growth-at-all-costs mindset and switch to a data-driven optimisation, growth and revenue system.

  7 fintech marketing strategies

  Given the current state of the fintech industry and relatively low levels of investor confidence, fintech marketers’ priority is building a new culture of sustainable profit. This starts with rethinking priorities and switching up the marketing goals to reflect longer-term ambitions.

  So, here are the fintech marketing strategies that matter most in 2024.

  1. Optimise for profitability over growth at all costs

  To progress from the growth-at-all-cost mindset, fintech marketers need to optimise for different KPIs. Instead of flexing metrics like customer growth rate, fintech companies need to take a more balanced approach to measuring sustainable profitability.

  This means holding on to existing customers – and maximising their value – while they acquire new customers. It also means that, instead of trying to make everyone a target customer, you concentrate on targeting the most valuable prospects, even if it results in a smaller overall user base.

  Optimising for profitability starts with putting vanity metrics in their place and pinpointing the KPIs that represent valuable business growth :

  • Gross profit margin
  • Revenue growth rate
  • Cash flow
  • Monthly active user growth (qualify “active” as completing a transaction)
  • Customer acquisition cost
  • Customer retention rate
  • Customer lifetime value
  • Avg. revenue per user
  • Avg. transactions per month
  • Avg. transaction value

  With a more focused acquisition strategy, you can feed these insights into every company level. For example, you can prioritise customer engagement, revenue, retention, and customer service in product development and customer experience (CX).

  To ensure all marketing efforts are pulling towards these KPIs, you need an attribution system that accurately measures the contribution of each channel.

  Marketing attribution (aka multi-touch attribution) should be used to measure every touchpoint in the customer journey and accurately credit them for driving revenue. This helps you allocate the correct budget to the channels and campaigns, adding real value to the business (e.g., social media marketing vs content marketing).

  Example : Mastercard helps a digital bank acquire 10 million high-value customers

  For example, Mastercard helped a digital bank in Latin America achieve sustainable growth beyond customer acquisition. The fintech company wanted to increase revenue through targeted acquisition and profitable engagement metrics.

  Strategies included :

  • A more targeted acquisition strategy for high-value customers
  • Increasing avg. spend per customer
  • Reducing acquisition cost
  • Customer retention

  As a result, Mastercard’s advisors helped this fintech company acquire 10 million new customers in two years. More importantly, they increased customer spending by 28% while reducing acquisition costs by 13%, creating a more sustainable and profitable growth model.

  2. Use web and app analytics to remotivate users before they disengage

  Engagement is the key to customer retention and lifetime value. To prevent valuable customers from disengaging, you need to intervene when they show early signs of losing interest, but they’re still receptive to your incentivisation tactics (promotions, rewards, milestones, etc.).

  By integrating web and app analytics, you can identify churn patterns and pinpoint the sequences of actions that lead to disengaging. For example, you might determine that customers who only log in once a month, engage with one dashboard, or drop below a certain transaction rate are at high risk for churn.

  Using a tool like Matomo for web and app analytics, you can detect these early signs of disengagement. Once you identify your churn risks, you can create triggers to automatically fire re-engagement campaigns. You can also use CRM and session data to personalize campaigns to directly address the cause of disengagement, e.g., valuable content or incentives to increase transaction rates.

  Example : Dynamic Yield fintech re-engagement case study

  In this Dynamic Yield case study, one leading fintech company uses customer spending patterns to identify those most likely to disengage. The company set up automated campaigns with personalised in-app messaging, offering time-bound incentives to increase transaction rates.

  

  With fully automated re-engagement campaigns, this fintech company increased customer retention through valuable engagement and revenue-driving actions.

  3. Identify the path your most valuable customers take

  Why optimise web experiences for everyone when you can tailor the online journey for your most valuable customers ? Use customer segmentation to identify the shared interests and habits of your most valuable customers. You can learn a lot about customers based on where the pages they visit and the content they engage with before taking action.

  Use these insights to optimise funnels that motivate prospects displaying the same customer behaviours as your most valuable customers.

  Get 20-40% more data with Matomo

  One of the biggest issues with Google Analytics and many similar tools is that they produce inaccurate data due to data sampling. Once you collect a certain amount of data, Google reports estimates instead of giving you complete, accurate insights.

  This means you could be basing important business decisions on inaccurate data. Furthermore, when investors are nervous about the uncertainty surrounding fintech, the last thing they want is inaccurate data.

  Matomo is the reliable, accurate alternative to Google Analytics that uses no data sampling whatsoever. You get 100% access to your web analytics data, so you can base every decision on reliable insights. With Matomo, you can access between 20% and 40% more data compared to Google Analytics.

  

  With Matomo, you can confidently unlock the full picture of your marketing efforts and give potential investors insights they can trust.

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  4. Reduce onboarding dropouts with marketing automation

  Onboarding dropouts kill your chance of getting any return on your customer acquisition cost. You also miss out on developing a long-term relationship with users who fail to complete the onboarding process – a hit on immediate ROI and, potentially, long-term profits.

  The onboarding process also defines the first impression for customers and sets a precedent for their ongoing experience.

  An engaging onboarding experience converts more potential customers into active users and sets them up for repeat engagement and valuable actions.

  Example : Maxio reduces onboarding time by 30% with GUIDEcx

  Onboarding optimisation specialists, GUIDEcx helped Maxio cut six weeks off their onboarding times – a 30% reduction.

  

  With a shorter onboarding schedule, more customers are committing to close the deal during kick-off calls. Meanwhile, by increasing automated tasks by 20%, the company has unlocked a 40% increase in capacity, allowing it to handle more customers at any given time and multiplying its capacity to generate revenue.

  5. Increase the value in TTFV with personalisation

  Time to first value (TTFV) is a key metric for onboarding optimisation, but some actions are more valuable than others. By personalising the experience for new users, you can increase the value of their first action, increasing motivation to continue using your fintech product/service.

  The onboarding process is an opportunity to learn more about new customers and deliver the most rewarding user experience for their particular needs.

  Example : Betterment helps users put their money to work right away

  Betterment has implemented a quick, personalised onboarding system instead of the typical email signup process. The app wants to help new customers put their money to work right away, optimising for the first transaction during onboarding itself.

  

  It personalises the experience by prompting new users to choose their goals, set up the right account for them, and select the best portfolio to achieve their goals. They can complete their first investment within a matter of minutes and professional financial advice is only ever a click away.

  Optimise account signups with Matomo

  If you want to create and optimise a signup process like Betterment, you need an analytics system with a complete conversion rate optimisation (CRO) toolkit. 

  

  Matomo includes all the CRO features you need to optimise user experience and increase signups. With heatmaps, session recordings, form analytics, and A/B testing, you can make data-driven decisions with confidence.

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

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  6. Use gamification to drive product engagement

  Gamification can create a more engaging experience and increase motivation for customers to continue using a product. The key is to reward valuable actions, engagement time, goal completions, and the small objectives that build up to bigger achievements.

  Gamification is most effective when used to help individuals achieve goals they’ve set for themselves, rather than the goals of others (e.g., an employer). This helps explain why it’s so valuable to fintech experience and how to implement effective gamification into products and services.

  Example : Credit Karma gamifies personal finance

  Credit Karma helps users improve their credit and build their net worth, subtly gamifying the entire experience.

  

  Users can set their financial goals and link all of their accounts to keep track of their assets in one place. The app helps users “see your wealth grow” with assets, debts, and investments all contributing to their next wealth as one easy-to-track figure.

  

  7. Personalise loyalty programs for retention and CLV

  Loyalty programs tap into similar psychology as gamification to motivate and reward engagement. Typically, the key difference is that – rather than earning rewards for themselves – you directly reward customers for their long-term loyalty.

  That being said, you can implement elements of gamification and personalisation into loyalty programs, too. 

  Example : Bank of America’s Preferred Rewards

  Bank of America’s Preferred Rewards program implements a tiered rewards system that rewards customers for their combined spending, saving, and borrowing activity.

  

  The program incentivises all customer activity with the bank and amplifies the rewards for its most active customers. Customers can also set personal finance goals (e.g., saving for retirement) to see which rewards benefit them the most.

  Conclusion

  Fintech marketing needs to catch up with the new priorities of investors in 2024. The pre-pandemic buzz is over, and investors remain cautious as regulatory scrutiny intensifies, security breaches mount up, and the market limps back into recovery.

  To win investor and consumer trust, fintech companies need to drop the growth-at-all-costs mindset and switch to a marketing philosophy of long-term profitability. This is what investors want in an unstable market, and it’s certainly what customers want from a company that handles their money.

  Unlock the full picture of your marketing efforts with Matomo’s robust features and accurate reporting. Trusted by over 1 million websites, Matomo is chosen for its compliance, accuracy, and powerful features that drive actionable insights and improve decision-making.

   Start your free 21-day trial now. No credit card required.

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• Join us at MatomoCamp 2024 world tour edition

  13 novembre 2024, par Daniel Crough — Uncategorized

  Join us at MatomoCamp 2024 world tour edition, our online conference dedicated to Matomo Analytics—the leading open-source web analytics platform that prioritises data privacy.

  • 🗓️ Date : 14 November 2024
  • 🌐 Format : 24-hour virtual conference accessible worldwide
  • 💰 Cost : Free and no need to register

  Event highlights

  Opening ceremony

  Begin the day with a welcome from Ronan Chardonneau, co-organiser of MatomoCamp and customer success manager at Matomo.

  View session | iCal link

  Keynote : “Matomo by its creator”

  Attend a special session with Matthieu Aubry, the founder of Matomo Analytics. Learn about the platform’s evolution and future developments.

  View session | iCal link

  Explore MatomoCamp 2024’s diverse tracks and topics

  MatomoCamp 2024 offers a wide range of topics across several tracks, including using Matomo, integration, digital analytics, privacy, plugin development, system administration, business, other free analytics, use cases, and workshops and panel talks.

  Featured sessions

  1. Using AI to fetch raw data with Python

  Speaker : Ralph Conti
  Time : 14 November, 12:00 PM UTC

  Discover how to combine AI and Matomo’s API to create unique reporting solutions. Leverage Python for advanced data analysis and unlock new possibilities in your analytics workflow.

  View session | iCal link

  2. Supercharge Matomo event tracking with custom reports

  Speaker : Thomas Steur
  Time : 14 November, 2:00 PM UTC

  Learn how to enhance event tracking and simplify data analysis using Matomo’s custom reports feature. This session will help you unlock the full potential of your event data.

  View session | iCal link

  3. GDPR with AI and AI Act

  Speaker : Stefanie Bauer
  Time : 14 November, 4:00 PM UTC

  Navigate the complexities of data protection requirements for AI systems under GDPR. Explore the implications of the new AI Act and receive practical tips for compliance.

  View session | iCal link

  4. A new data mesh era !

  Speaker : Jorge Powers
  Time : 14 November, 4:00 PM UTC

  Explore how Matomo supports the data mesh approach, enabling decentralised data ownership and privacy-focused analytics. Learn how to empower teams to manage and analyse data without third-party reliance.

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  5. Why Matomo has to create a MTM server side : The future of data privacy and user tracking

  Panel discussion
  Time : 14 November, 6:00 PM UTC

  Join experts in a discussion on the necessity of server-side tag management for enhanced privacy and compliance. Delve into the future of data privacy and user tracking.

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  6. Visualisation of Matomo data using external tools

  Speaker : Leticia Rodríguez Morado
  Time : 14 November, 8:00 PM UTC

  Learn how to create compelling dashboards using Grafana and Matomo data. Enhance your data visualisation skills and gain better insights.

  View session | iCal link

  7. Keep it simple : Tracking what matters with Matomo

  Speaker : Scott Fillman
  Time : 14 November, 9:00 PM UTC

  Discover how to focus on essential metrics and simplify your analytics setup for more effective insights. Learn tactics for a powerful, streamlined Matomo configuration.

  View session | iCal link

  Stay connected

  Stay updated with the latest news and announcements :

  • Twitter : @MatomoCamp
  • YouTube : @MatomoCamp
  • Official website : matomocamp.org

  Don’t miss out

  MatomoCamp 2024 world tour edition is more than a conference ; it’s a global gathering shaping the future of ethical analytics. Whether you aim to enhance your skills, stay informed about industry trends, or network with professionals worldwide, this event offers valuable opportunities.