Marketing attribution is a reporting strategy that allows marketers to assess the value of the channels that connect them to potential customers. Which channels and messages have the most impact on a decision to convert or take the desired next step? An attribution report measures conversion paths from the moment consumers enter a website to when they become customers.
The value of marketing attribution
Marketing attribution enables marketers to pinpoint the exact marketing efforts that lead to conversion and they can make more informed decisions about how and where to focus their efforts and improve marketing ROI.
LeanData provides an attribution model that is fully customizable to suit a particular business with the use of an attribution wizard that makes it possible to select the most relevant touches.
Different attribution models
It is possible to run different attribution reports depending upon what needs to be distilled from the data. An attribution report can answer any questions about what drives conversions through the funnel, such as how many leads were generated through a blog or what source is driving the most conversions. ‘
A marketing attribution model basically assigns ‘credit’ to each channel in a given campaign. One model may give more weight to the click closest to the purchase and another may assign most value to the very first click.
Other models give various interactions equal credit. It is very important to choose the right attribution model. The right model will be actionable and influence spending decisions.
LeanData matching offers accurate campaign attribution data and can help to fine-tune spending so money is not wasted on efforts that do not improve revenue.
Lead attribution
Businesses today do not rely on consumers making a single click to make a purchase on a website. They tend to read content and reviews, follow a brand on social media and make a number of visits to a website before making a purchase.
Some journeys take many steps and go through multiple mediums before someone feels comfortable enough with a brand to make a purchase.
What content generates the most leads?
Content is at the heart of inbound marketing. Attribution reports can pull together information, such as showing how many times a blog post was viewed before a conversion.
Reports can help marketers to understand what topics or content forms perform best when generating leads and this informs their future decisions. They may also find out the best times to promote content and much more.
What marketing channels generate the most leads?
Understanding the health of various marketing channels can help when deciding where to invest the most marketing effort. An attribution report might show that a company’s email campaign is successfully drawing in leads while social media is not as helpful or vice versa.
Those generating many leads from email marketing with little effort and not as many from social media despite much effort are likely to benefit from investing more effort into email marketing.
What pages do website visitors view most before becoming customers?
Running an attribution report based on pages visited helps with figuring out which ones are frequented the most. It may be a surprise to find out how much an ‘about us’ page or informational page is contributing to conversions. This helps with an understanding of what pages to optimize and promote so they can push customers down the funnel.
Time no longer needs to be wasted when it comes to emails, targeted ads and more. Marketing attribution means being able to focus in the right way on the right customers without any guesswork.