How do you rank lead sources and adjust your budget allocation accordingly by channel?

We track our spend and pipeline influence (multi-touch pipeline attribution by marketing activity) and by marketing channel to determine the pipeline ROI. We can then extrapolate bookings ROI by applying our win rate to understand which marketing channels are most effective in generating pipeline and revenue for the company.

The first step in ranking demand generation lead sources is understanding what success looks like. What KPIs are you using to evaluate the channel (e.g., conversion rate)?

Once you have established how you will measure success, I recommend setting up tracking and reporting to support ongoing analysis. This is not a “set it and forget it” process. You should constantly evaluate performance and shift the budget allocation accordingly based on what’s working and what is not working. Furthermore, you should consider segmenting the data to better understand the performance.

This should be a recurring exercise for budget allocation. This will allow you to utilize the budget in a smarter way.