Looking for a way to measure the success of all aspects of a campaign or your marketing?
Attribution is a data-driven method to understand how your customers arrive at a conversion.
What is attribution?
Attribution is a form of measurement in advertising. It takes a conversion or lead and assigns credit to the various marketing or advertising components a customer interacts with along their buying journey. This method can help you understand where your customers are coming from and where your advertising dollars are getting the most bang for your buck.
By analyzing which messages and touchpoints resonate most with customers, you’re able to create a full experience for your customers across multiple channels. This is especially helpful when you’re doing programmatic omnichannel marketing — you need to know how all aspects of your omnipresent marketing are doing and how they contribute to a conversion.
Multi-touch vs. first touch vs. last touch
There are a few methodologies of attribution to help track and assign credit. Let’s say a customer hears a digital radio spot while listening to a podcast. Later, they see a display ad and then finally click on a retargeting ad with a discount code to buy the product.
Which channel gets the credit for closing that sale?
There are multiple attribution models that help track this, and each way may be more beneficial to different companies.
- First and last touch assigns credit to either the first interaction or the very last interaction a customer has before the conversion.
- Multi-touch distributes credit equally among all the touch points your customer interacts with before converting.
Regardless of which method you choose for your campaigns, being able to holistically look at how each component contributes to conversion is essential to measuring your ROI.
If you’re ready to kickstart your advertising efforts and get assistance with attribution, contact the experts at Know Advertising: An Agency of Excellence.