How advanced marketing attribution can help level up your marketing

Customers will have hundreds of interactions with your brand before buying.

So how do you know which touchpoints are converting? A specific ad or landing page might have a high conversion rate, but what about the articles, social posts, and videos that also influence prospects’ decision to buy?

This is where advanced marketing attribution can help. It credits touchpoints based on their influence. In this post, we’ll cover how marketing channel attribution can level up your campaigns.

What is attribution in marketing?

You might be wondering, “What is a marketing attribution model?” Well, it’s simply a set of rules that credits various marketing channels based on their influence over customers.

For example, let’s say a prospect clicks on your email, visits a blog post linked in that email, goes to a landing page in the blog, and finally buys your product. Advanced marketing attribution assigns credit to each channel based on its impact.

Understanding different types of marketing attribution

There are different types of attribution marketing that are commonly used.

• First-touch attribution
• Last-touch attribution
• Linear attribution

First-touch attribution

With first-touch attribution, 100% of the credit goes to the page that initially drove visitors to your site. This could be a social media ad or blog post. First-touch attribution overemphasizes top-of-the-funnel marketing, but it’s an easy way to know what’s attracting customers.

Last-touch attribution

Last-touch attribution gives all credit to the first touchpoint of the most recent visit. So if a prospect first visited a blog post, then landing page, and signed up via the pricing page, the last-touch system gives points to the blog post.

For example, Google Analytics uses last-touch data to track the first touchpoint of a user’s most recent visit. This helps you understand how visitors came to your website and what made them convert. This is why 41% of marketers that implement marketing attribution use the last-touch model.

Linear attribution

Linear attribution gives equal credit to each touchpoint in the buying process. Using the example above, the blog post, landing page, and pricing page all receive equal recognition. This is effective when starting out since it doesn’t overemphasize any touchpoints.

Now that we know what marketing attribution is and the different types of popular attribution models, let’s cover the benefits.

How advanced marketing attribution can benefit your business

Here are some benefits to implementing advanced marketing attribution:

• You gain critical insight into marketing campaigns
• It increases return on investment
• You optimize your marketing budget
• You can develop your product to meet customers’ needs

You gain critical insight into your marketing campaigns

With advanced marketing attribution, you can better understand your customers, which improves conversions and leads. Because marketing attribution helps you know where customers are coming from, you can optimize marketing campaigns.

If a specific touchpoint isn’t bringing in customers, split test to identify the problem. Maybe your landing page isn’t hitting the right pain points, or your ads target the wrong people. From here, use the insight gathered from attribution marketing to see if you’ve improved.

It increases return on investment

You can create personalized marketing campaigns since you’re understanding your customers better. With insight into potential customers’ preferences, it’s easier to present your product as a solution to their pain points.

You also know which times of the day to send emails, what channels customers prefer, and the most compelling writing style to use. All of this increases marketing returns.

You optimize your marketing budget

You want to spend every penny wisely if you’re cutting down marketing budgets for any reason. This is where advanced marketing attribution shines. Because you know which campaigns are bringing in customers, you can dedicate more money towards those, optimizing your budget.

This is helpful for smaller companies looking to make a name for themselves against bigger competition. You might not be able to outspend them, but optimizing what you have is a significant advantage.

You can develop your product to meet customers’ needs

Marketing attribution doesn’t just improve marketing campaigns. The customer data helps you and your team develop a better user experience.

For example, if you notice attribution marketing gives a lot of credit to phone calls, you can send copies of these calls to your sales and product development team. This way, the sales team hits key pain points while selling and product development focuses on ironing out glitches.

Take your marketing to the next level with Lytics

Marketing channel attribution allows you to gain critical insight into customers’ minds. It shows where customers are coming from, which improves ROI, reduces marketing spend, and optimizes product development.

If you’re looking to access this level of insight, consider Lytics. With the Lytics Decision Engine, you can create engaging brand touchpoints by personalizing real-time customer behaviors. Sign up for a free 30-day trial to learn how you can instantly take your marketing efforts to the next level.