Machine Learning Strengthens BrightFunnel’s Revenue Intelligence Offerings and Builds on Patent Filing for Dynamic Attribution Models
BrightFunnel, the leading B2B Revenue Reporting, and Intelligence solutions maker, announced the launch of its new ingeniously developed, Machine Learning Attribution Engine. Currently available in its beta version, BrightFunnel’s Machine Learning Attribution EngineTM is built on exclusive Dynamic Attribution Models.
Nadim Hossain, CEO and Co-Founder admitted about BrightFunnel’s ambition to leverage artificial intelligence and machine learning for making marketing a cake-walk. Hossain says, “I’m proud to announce BrightFunnel’s machine learning powered attribution capabilities.”
Hossain adds, “From our original founding, we have had the vision that AI can improve the daily work lives of marketers. Over the past few years, our team has been quietly building our customer base, our proprietary data access, and our deep domain expertise in marketing workflows. Today’s milestone marks a logical progression towards making our Machine Learning Attribution Engine commercially available.”
Machine Learning Attribution Engine is More Accurate at Analytics and Optimization
BrightFunnel collects large amounts of data from a customer’s CRM, marketing automation system, website, and advertising platforms to determine marketing’s impact on every closed deal. Using this rich data set, BrightFunnel’s patent pending machine learning system builds custom attribution models tailored to the realities of each marketer’s buyer journey.
Early experiments show the machine learning algorithms to be significantly more accurate than previous less sophisticated models. This means BrightFunnel is more accurate at measuring and optimizing marketing’s impact on revenues than alternative solutions.
BrightFunnel’s machine learning powered attribution is currently in limited availability, due to high demand, with priority given to enterprise customers.
Dynamic Marketing Attribution: The Backbone of Machine Learning Attribution Engine
BrightFunnel’s Machine Learning Attribution EngineTM is built on its Dynamic Attribution Models that extensively use AI/ML capabilities for predictive analytics into marketing investments leading to revenue conversions. By adding the new product to its suite of Revenue Intelligence, BrightFunnel will be able to solve the traditional marketing attribution problems using Dynamic Attribution models, instead of static ones.
By using BrightFunnel’s proprietary optimization algorithms, marketers can build custom attribution models based on their own historical data, leveraging more insight than a traditional rules-based attribution model.
With this new evolution of BrightFunnel, the company has enhanced the power of its platform by harnessing AI. BrightFunnel’s Machine Learning Attribution Engine enables B2B marketers to get greater benefit from the platform and accelerate revenue through the following:
- Greater insight into what marketing investments lead to revenue
- Optimal buyer journey mapping and recommendations for different segments
- Smarter optimization of marketing budgets and program ROI
We have comments from Invoca, one of BrightFunnel customers who used Machine Learning Attribution EngineTM in its beta version. Kyle Christensen, SVP of Marketing, Invoca, says —
“We’re always looking for ways to be smarter about attributing marketing to revenue. At the end of the day, if we can’t say what’s worked in the past we can’t make smart decisions about our future. Since implementing BrightFunnel, we have been able to understand our business in new ways, and we believe that the addition of machine learning capabilities to the platform will help take us to the next level as a revenue team.”
Patrick Kehoe, CMO, Coalfire Systems, adds, “In today’s complex buyer landscape, there is an explosion of data. As a CMO, BrightFunnel solves my biggest pain point, which is getting insight from that data. The addition of machine learning capabilities makes BrightFunnel’s Revenue Intelligence platform even more powerful, and we are delighted to be an early customer.”
By adding machine learning capabilities to Revenue Intelligence Suite, BrightFunnel offers a fully orchestrated marketing attribution platform that senses the most accurate marketing and sales touch points along the customer journey. It is not yet clear if the new product will be available seamlessly for Marketing Impact Reporting, ABM Analytics, and Ad Networking Integration.