Getting Started with Marketo’s Marketing Performance Insights
As a Marketo customer, you're likely familiar with its powerful capabilities for marketing automation. However, there's one gem that often flies under the radar: Marketo’s Marketing Performance Insights (MPI) tool. This underrated feature provides fast, actionable insights into your marketing engagement, pipeline, and revenue. Let's dive into how you can get started with MPI and why it's a game-changer for your marketing strategy.
Why Use Marketing Performance Insights?
MPI is designed to help you make data-driven decisions by offering a comprehensive view of your marketing performance. Here are a few reasons why you should leverage this tool:
Getting Started with MPI
It takes less than 5 minutes to get actionable data out of MPI! Let’s dig into each section.
Engagement Insights
The Engagement section gives you a detailed look at how your audience is interacting with your marketing campaigns. Great for demand gen and lifecycle marketers to understand what activities foster top-of-funnel engagement.
To ensure you are measuring your audience engagement effectively:
Adjust the Dashboard Settings: By default, MPI pulls data based on the program cost date. However, most companies don’t utilize Period Costs. To get around this, change the “View Program Success by” setting to use the activity period.
Note: if you don’t use Period Costs, you may not see any data in this section until you change this setting!
And that’s it! Now you can adjust the filters at the top to play around with different views:
This gives you immediate insights into new names and program successes from your Marketo programs. Think of this as your baseline Lead Gen and Demand Gen top-of-funnel view.
Pipeline Insights
This is where it starts getting juicy. The Pipeline section gives you a straightforward view into how your marketing efforts influence pipeline.
Optionally, you can also add opportunity filters here.
For example, if marketing is only measured by New Business opportunities, consider adding an Opportunity Type = New Business filter.
Now you are ready to use the Pipeline dashboard! Play around with different views to understand how marketing activities are influencing pipeline creation.
Revenue Insights
The Revenue section is almost identical to the pipeline section, except for the obvious: we’re shifting to look at Bookings instead of Pipe Gen.
To ensure you are measuring your revenue influence effectively:
Just like in the Pipeline dashboard, update your Revenue settings to only include marketing activities that happened before the opportunities became Closed Won:
Add any relevant opportunity filters (e.g. Opportunity Type) and start exploring your Revenue Influence data!
Getting Started
Now that you have MPI ready to go, try looking at it from multiple lenses. You can view overall contributions vs trending influence, look at different opportunity types or stages, or even slice and dice by first-touch vs multi-touch.
Speaking of, let’s do a quick overview of first-touch vs multi-touch:
“First-Touch (FT) attribution answers a simple business question, ‘Which programs are good at acquiring profitable new names?’
Multi-Touch (MT) answers a complicated business question, ‘Which programs are most influential in moving people forward in the sales cycle over time?’”
Quoted from Adobe Experience League at https://experienceleague.adobe.com/en/docs/marketo/using/product-docs/reporting/revenue-cycle-analytics/revenue-tools/attribution/understanding-attribution
From a technical perspective, FT comes from Acquisition Program, and MT comes from Program Success.
Conclusion
Marketo’s Marketing Performance Insights tool is an under-utilized powerhouse that can transform the way you understand and optimize your marketing efforts. And the best part is, if you’re a Marketo customer, then you already have it!
Follow this guide to start driving increased engagement, more effective pipeline management, and increased revenue through your MPI insights. Start leveraging MPI today and see the difference it can make in your marketing strategy.
SKIP THIS PART IF YOU ARE NOT A MARKETO ADMIN👇
If you are a Marketo admin, the following operational information may be helpful:
Configuring Admin Settings
Marketo’s Admin section has additional settings that allow you to tailor MPI to better suit your company’s specific needs.
Admin > Program Analysis:
The Attribution section of this page allows Marketo admins to adjust the attribution behavior as it relates to contact roles. The default behavior works best for organizations with defined and required contact roles on opportunities. Take a look and see which option is the best fit for you:
By default, only programs with Period Costs are included in MPI. Since most companies don’t use Period Costs, MPI allows you to override this setting. You can do this at the channel level, or the individual program level.
To do this at the channel level, go to Admin > Tags and edit the channel you would like to include in MPI. Change the Analytics Behavior settings to “Inclusive”:
For individual programs, go to the Setup tab and change the Analytics Behavior to “Inclusive”:
