Marketing attribution is a way of finding out which touch points your customers interact with before they make a purchase. Each interaction is a tap on a touchpoint—if you know exactly where these taps happen, you´ll see a better picture of how customers get to know you (and get to buy from you). Because of this, marketing attribution is a key factor in helping you calculate your marketing strategy´s ROI – and they are one of the main reasons why marketing teams adopt marketing automation.
In other words, marketing attribution can help you find out what is working for you so that you can do more of it.
And yet, with all the lead interaction information that is at your marketing team´s fingertips, how can you know which particular touch point made your customer buy from you? How can you assign credit where credit is due?
Marketing attribution models are a set of rules that enable you to give credit to each touch point in your campaign, letting you see which channels are most influential in pushing your customer to buy from you. Marketing automation platforms make it easy to see where customer interaction takes place so you can create a user journey map across all your omnichannel campaigns (and that’s why they’re critical in establishing lead nurturing campaigns, lead scoring, and lead qualification … but those are topics for another day!)
These models each have a different way of assigning credit for the lead’s conversion, and can be split roughly into single touch or multi touch, with single touch models consistently tracking specific conversion points to revenue and multi touch models splitting the credit for lead conversion across multiple touch points along the buying journey. All have pros and cons (no surprises here!) which we will explore.
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The model you choose can influence your results to show you what seems to work best, so make sure you have time to review and understand these models AND that you can allocate time and resources to making changes in your model to suit your customer´s needs and your organisation´s needs.
Clear marketing attribution will help you improve lead generation. You’ll understand how you influence your leads to develop better customer relationships, which campaigns work best, and how that work impacts revenue. Make attribution modeling easy with marketing automation tools – we’ll show you how.