Attribution is about measuring the value that every channel brings to the customer journey. It’s about serving as a guideline for reinvestment and a benchmark for guiding how you’re investing in these channels.
20% of marketers are able to prove their value to the company on a revenue level
(Marketing Performance Management-2015)
1. Define Your Goal
Ask these questions: What do you want to do? Are they converting? What did they do before they converted? How valuable were the previous touch-points? Is there a pattern?
REMEMBER: Value is relative
Quantitative Goals: Have goals that are measureable. Do this to create guidelines and benchmarks so you can invest meaningfully.
2. Create a Flexible Measurement Framework
What technologies do you need for your attribution framework?
We recommend the following technologies to help with your attribution framework:
- Google Analytics
- WebTrends Analytics
- Anametrix (Tableau)
- IMB Digital
Attribution should be flexible as it needs to be easy to make adjustments as you learn and grow as an organization.
Watch out for:
- Inflexible Values: Have something in place that allows you to have a starting point of value and then updating that as you learn.
- Avoid thinking that testing and measuring is a fixed point: It is something you are continually doing on a rolling basis during your digital marketing campaigns.
REMEMBER: You are always testing effectiveness of you attribution model against your goals
3. Test & Measure
29% of B2B marketers don’t know why they’re using their current attribution model
FACT: what you measure against for attribution today, will not be what you’re measuring against in 6 months thanks to rigorous testing and adjusting
GOAL: Measure for Effectiveness: You want to always be evaluating your attribution framework and testing its effectiveness in doing that
4. Bringing it All Together
To understand the full complexity of the marketing technology landscape, take a look at MarTech’s visualization.
Interested in learning more about attribution? Need help establishing your framework?
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