{"id":19968,"date":"2022-11-30T18:40:55","date_gmt":"2022-11-30T18:40:55","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/11\/30\/channel99-will-help-marketers-measure-the-performance-of-channels-and-vendors\/"},"modified":"2022-11-30T18:40:55","modified_gmt":"2022-11-30T18:40:55","slug":"channel99-will-help-marketers-measure-the-performance-of-channels-and-vendors","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/11\/30\/channel99-will-help-marketers-measure-the-performance-of-channels-and-vendors\/","title":{"rendered":"Channel99 will help marketers measure the performance of channels and vendors"},"content":{"rendered":"

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Channel99 launches today with a free mobile app and the promise of a full platform offering in the New Year. It aims to provide technology that can measure not just the activity driven by marketing channels and the vendors that power them (i.e. LinkedIn and Facebook in the social media channel), but the impact that activity has on business outcomes.<\/p>\n

By integrating spend data with measurement of outcomes, it also aims to provide visibility into the cost of generating those outcomes, allowing marketers to allocate budget more efficiently. The twin objectives are boosting pipeline while reducing acquisition cost. Channel99 is selling into B2B marketing organizations and the app is already being used by dozens of enterprise and mid-market customers.<\/p>\n

Why we care. <\/strong>Two reasons. First, this could prove to be a major contribution to addressing the age-old attribution problem \u2014 a problem that increases in complexity as channels multiply: \u201cHalf the money I spend on advertising is wasted; the trouble is I don\u2019t know which half,\u201d as the old saying goes.<\/p>\n

Second, Channel99 is the brainchild of Chris Golec who founded enterprise ABM giant Demandbase in 2006 and ran it for more than 13 years (he remains a member of the board). After a period as an investor and adviser, he\u2019s excited to be back in the startup game \u2014 for the first time trying to do it remotely.<\/p>\n

\u201cSome of our engineers are here, some are in Poland,\u201d he told us. \u201cIt\u2019s just very hard to innovate and build a company remotely. I miss being in the office with people.\u201d<\/p>\n

After so many years with Demandbase, how does it feel to lead something completely new? \u201cIt\u2019s fun,\u201d he said. <\/p>\n

Independent source of truth.<\/strong> The vision for Channel99, said Golec, is to be an unbiased source of truth for marketers by measuring the impact of spending on dozens of channels and the many vendors operating within them. It has raised $5 million dollars in seed funding led by Jackson Square Ventures.<\/p>\n

\u201cMore than 90% of activity driven to a B2B website provides little to no value when it comes to driving new business,\u201d said Golec in a release. \u201cWith investments across hundreds of vendors and channels, the industry desperately needs a single source of truth to consistently measure the efficacy of their efforts.\u201d<\/p>\n

The mobile experience.<\/strong> It\u2019s unorthodox for a new B2B martech solution to lead with a mobile offering. \u201cThis notion of launching a free mobile app first is a way to engage with a customer a lot more efficiently than having them fill out a form and calling them 20 times over the following two weeks,\u201d Golec told us.<\/p>\n

The app provides insight into channel and vendor traffic, matching it to accounts and scoring it based on whether it fits a business\u2019s addressable market. \u201cIt\u2019s really an onboarding strategy because our next product will include financial information and really help marketers improve where they\u2019re spending money and how they\u2019re making decisions.\u201d It will also include CRM data<\/p>\n

\u201cI wouldn\u2019t call it pure attribution,\u201d he said, \u201cbut it\u2019s clearly going to show what\u2019s working and what\u2019s not.\u201d<\/p>\n

Dig deeper: Measuring the invisible \u2013 the truth about marketing attribution<\/a><\/em><\/strong><\/p>\n

Bad news for some channels and vendors? <\/strong>Of course, if Channel99 can indeed identify areas of wasteful spending, that might not be good news for the channels and vendors that are under-performing. \u201cThat may happen,\u201d Golec conceded. \u201cIf anything it will expose opportunities for them to get better, but if you\u2019re using a vendor or a channel that is not reaching your target audience, then you shouldn\u2019t spend money there.\u201d<\/p>\n

Of course, just because a vendor under-performs for one business doesn\u2019t mean it under-performs for others. \u201cIt all depends on who your target audience is.\u201d<\/p>\n

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