In our new five-part blog series, you’ll learn about the importance of attribution: choosing ad channels, defining company goals, aligning KPI’s with company objectives, managing customer touchpoints, and learning where your ad dollars are best spent for maximum impact.
It’s inspired by our latest eBook, Beyond Digital Marketing Attribution, and it’s designed to help you create an attribution strategy that drives your company’s key business goals. This is Part 1: Choose Your Channels. Keep an eye out for future installments in the coming weeks.
Step 1: Choose Your Channels! What Cross-Channel Marketing Attribution Is All About
Welcome! You’re about to start learning the secrets we’ve culled from the top chief marketing officers around the world for creating an attribution reporting strategy that will actually work for your business.
We’ll start right here: Jot down all of the potential advertising channels you can think of in one minute. Ready? Go!
Now, check your list. Did you list five channels? Ten? What if we told you there are no less than nineteen channels available to you, at all times, to get your company’s word out? From radio and television, to Facebook and Twitter, to word of mouth and even speaking engagements, there are tons of ways to reach out to your audience. (See a complete list by downloading this Marketing Channel Word Search.)
Here’s the challenge you face every day: How do you know which of those channels is actually driving your customers’ behavior? Is it the Facebook ad they saw this morning? A radio spot while driving home from work? A word-of-mouth recommendation from a peer at another company? Or is it more than one of them, combined?
And, most importantly, how will you know which channels actually influenced user behavior so that you can do more of what works, and less of what doesn’t?
To simplify your work for the moment, let’s focus on just one of your company’s products or services to track. It could be your highest revenue-producing offering, or the one you’d like to strengthen through awesome online marketing and attribution.
- First, choose the advertising channels that you’re currently using to get the word out about that product or service. (Use the marketing channel word search for a complete list of channels.)
- Next, narrow your focus. (Download this worksheet to help you out.) For each of the channels you use to advertise this product or service, list the following:
- The person who is responsible for it inside your company (the “owner”)
- The ways in which that owner measures the channel’s success
- The measurement tools the owner is using to create that success metric
- The monthly spend: the portion of your ad budget that goes towards that advertising channel
Now you have usable information down on paper. You can start focusing on which channels are driving your business. In the second installment of this blog, you’ll learn how to make attribution robust by tying it to your organization’s goals and choosing the key performance indicators (KPIs) that will help you devise your attribution strategy.
Click here to read about Step 2 of your attribution strategy—getting your KPIs and your company’s organizational goals on the same page.
Get Involved! Post a comment below to share your attribution secrets with your peers.
Get the whole playbook! Download our new e-book, Beyond Digital Marketing Attribution, to start crafting your attribution strategy right now