Marketing attribution is the process measurement of the value of each touchpoint in a customer journey relative to the total value of the customer engagement. So whether a customer buys a $100 pair of shoes or is part of a multi-million-dollar complex sale, the goal of marketing attribution is the same: to help the company understand the value of each of the interactions through those engagements. Was it a digital ad, webinar, white paper, or an email that convinced them to purchase your product—or was it a combination of all these activities?
There are numerous methods of marketing attribution, but they can be split into two main buckets: single-touch attribution and multi-touch attribution.
Single-touch marketing attribution
Single-touch attribution only focuses on one of the touches in the customer journey; this means it’s less credible, but also the easiest to implement. Most CRM and marketing automation systems have single-touch attribution embedded within them, so it is a very common place for many marketers to start.
Common single-touch methods include:
Multi-touch marketing attribution
Multi-touch attribution focuses on touchpoints throughout the journey based on the methodology you are using. The multiple touchpoints ensure the data is more credible and gives marketers more accurate insight into how your marketing touches are contributing to the customer journey.
Common multi-touch methodologies include:
Where should you start?
This depends on your organization’s maturity and access to data. Most companies start with single-touch attribution as it’s the easiest and also requires less complexity from a data perspective. More advanced marketing organizations will have moved on from single-touch and will be trying to advance their capabilities with more sophisticated multi-touch attribution methodologies.
Some marketers are even running simultaneous models to answer questions from many perspectives or to view the data from different angles—for example, if you want to know which activities are driving customers into your funnel, then you can view the first-touch attribution. In contrast, if you’re making a decision about content that you want to be evergreen throughout the customer journey, then you could view linear multi-touch attribution to identify where you can get the most bang for your buck.
Engage48’s Marketing Automation as a Service (MAAAS) solution can help maximize the ROI of your marketing investments by helping manage your lead generation process, campaigns and analytics, while also providing attribution capabilities to determine how well your activities are performing through multiple attribution methodologies. To learn more, schedule a demo to see it in action.