To put it in the simplest way possible, marketing attribution is using marketing analytics to determine which of the marketing tactics your business uses contributes most to sales or customer conversions. In short, what you’re doing right and how you can do it more.
Why is marketing attribution important to your business?
In the past, your customers used to simply see a magazine ad or TV commercial that might encourage them to buy your product. In the digital age, customers interact with your brand in many more ways—most of which are online. With the dizzying variety of modern media, the journey consumers take towards making a purchase is a complex one. From mobile apps to email and text campaigns to social media channels, customers encounter more marketing touchpoints than ever before choosing your brand.
How do you measure the effectiveness of each touchpoint? How do you figure out where you’re successfully funneling customers toward a purchase or where they might be dropping off and abandoning a purchase? Marketing attribution helps you decode the tangled web of the modern customer journey and identify what marketing tactics are driving conversions. By using an effective marketing attribution model, you can find out what elements of your marketing mix are most valuable in closing the sale.
Major trends influencing marketing attribution
With dozens of potential touchpoints, your business needs to have a solid strategy for assessing the ROI of each potential conversion tactic. Consider the many various ways a customer might engage with your business before making a purchase:
- Read blog posts or case studies
- Check out a social media post or story
- A phone call with a sales or customer service representative
- Interact with a mobile app
- Download a resource or lead magnet on your website
Major trends influencing marketing attribution
With dozens of potential touchpoints, your business needs to have a solid strategy for assessing the ROI of each potential conversion tactic. Consider the many various ways a customer might engage with your business before making a purchase:
– Read blog posts or case studies
– Check out a social media post or story
– Have a phone call with a sales or customer service representative
– Interact with a mobile app
– Download a resource or lead magnet on your website
-Talk with your team at a tradeshow or event
- Join an exclusive Facebook group
- Read a newsletter or e-blast
- Watch a webinar
- See a display advertisement on a search engine or social media channel
- Download an eBook on a relevant topic
For example, let’s say a customer is interested in buying a new bicycle. They start by searching Google to read up on the latest models and check out reviews from other consumers. They click a display ad and end up on your website. There, they decide to download a free resource on the most important features to consider when buying a new bike. A few days later, they see an ad for your company while browsing Facebook. They remember your brand and click through to your website and finally make a purchase.
It can seem impossible to tell exactly how each element of the marketing mix impacted an individual’s decision-making process. You can’t be inside the customer’s head during their entire purchasing journey. Luckily, there are several marketing attribution models that can help solve the puzzle and glean important insight into the effectiveness of your marketing mix.
Talk with your team at a tradeshow or event
Join an exclusive Facebook group Read a newsletter or e-blastWatch a webinarSee a display advertisement on a search engine or social media channelDownload an eBook on a relevant topicFor example, let’s say a customer is interested in buying a new bicycle. They start by searching Google to read up on the latest models and check out reviews from other consumers. They click a display ad and end up on your website. There, they decide to download a free resource on the most important features to consider when buying a new bike. A few days later, they see an ad for your company while browsing Facebook. They remember your brand and click through to your website and finally make a purchase.
It can seem impossible to tell exactly how each element of the marketing mix impacted an individual’s decision-making process. You can’t be inside the customer’s head during their entire purchasing journey. Luckily, there are several marketing attribution models that can help solve the puzzle and glean important insight into the effectiveness of your marketing mix. ..