Marketing attribution: the quest for information and data that allows marketers to pinpoint the assisting marketing messages, formats, and channels that lead a purchasing customer to their buying decision.
This is no longer a growing trend among marketers and executive teams; marketing attribution is becoming the expected standard in the field.
Interestingly, the concept of attribution has undergone a much needed change in recent years. Previously, attribution was done based almost solely on last click, which gives “credit” only to the last page, channel, or CTA the viewer experienced prior to the conversion step. Today, however, multi-touch attribution is becoming the norm and is much more feasible. This method of attribution takes each touchpoint prior to conversion into account in the attribution process, giving weight to each one. This allows CMOs and other marketing leaders to truly optimize their marketing investments.
To effectively attribute marketing results in your company, follow these steps:
If you’re not able to measure the impact that a specific budget line item has on your overall results, please check out our ebook on this subject: The Insider’s Guide to B2B Inbound Marketing. Each time you spend money on a marketing technique, whether it’s content marketing, social media, pay per click via social media or search engines, or outbound tactics like billboards or trade shows, you should be able to measure the following: visitors gained, contacts gained, leads converted, and the quality of those leads.
Look at the results of your marketing efforts each week and month. Each tactic only matters if it impacts a key metric positively. Double down on those that have the most positive impact on the bottom line, and consider replacing or eliminating those that have little or no impact. The numbers don’t lie.
Analytics and marketing attribution work hand-in-hand to enable marketing leaders to make better investment decisions. As Think With Google states, “Analytics help you understand your customers' experience. Attribution informs your marketing mix.” Insight into attribution will help you excel.
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