“Attribution” in marketing is the process of allocating conversion to the right channel, to the right touchpoint. This subject is particularly treated since the appearance of the strategies omnichannel.
Why rethink your conversion attribution model?
The proliferation of touchpoints and sales platforms highlights the need to rethink the attribution of conversions to different channels.
It is indeed essential for marketers to be able to finely evaluate the performance of each campaign, of each marketing initiative in order to find the combinations that perform best with the audience.
On the other hand, attribution is important in the sense that each platform can take credit for a sale, and so the marketer ends up paying the marketer multiple times for a single sale. Marketing teams are also often frustrated due to the misattribution of the sale, which can create real problems internally…
These new calculations related to the attribution of sales require new calculations, new performance measurement strategies as well as new means to manage its ROI.
Identify your best performing channels to optimize your investments
Marketing today represents a huge set of data recorded every day using marketing tools. tracking : behaviors, navigation, preferences, etc. Although all of this data provides material for evaluating a company's performance, it is nevertheless difficult to accurately measure the ROI of each marketing action carried out. Indeed, an Internet user moves from channel to channel, from touchpoint to touchpoint throughout his purchase journey. The final conversion may be the result of a long journey and not only due to the last channel visited.
Companies therefore need a method that allows each effect to be attributed to the lever that is truly causing it. This is called marketing attribution when setting up a strategy omnichannel. The allocation system makes it possible to distribute investments by channel and thus improve the customer experience.
Bet on a marketing attribution strategy combined with analytics
A marketing attribution strategy helps measure results in real time. Thus, he is no longer obliged to wait for the end of a conversion in order to adjust the prospecting or loyalty strategy. In other words, marketers can discover which lever generates the best results and thus rethink their investments. As a result, marketing attribution helps prioritize campaigns.
By using analytics and marketing attribution, the company can automatically centralize all the information from the different channels and thus distribute the marketing actions to achieve the defined objectives.
Finally, ROI is no longer just a matter of final conversions or acts of purchase. It is now a question of taking into account all the stages of the customer journey. The company must act at each stage, at each key moment by deploying a set of marketing actions that make it possible to accelerate conversion. Then, the performance analyzes must particularly take into account the role of each channel in the realization of the sale. In this way it will be possible to constantly adjust marketing investments in order to efficiently achieve the objectives set.
