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Why Attribution Matters: Digital Marketing Measurement

November 20th, 2017 Posted by Integrated Analytics, Strategy No Comment yet

If you’ve read our blog before you’ve heard us talk about the importance of digital marketing measurement. But how exactly can you get an idea of what’s working for your digital marketing strategy and any areas for improvement? This is where attribution comes into play.

Attribution, or the process of assigning credit for a conversion to a marketing touch-point, is an important part of measuring your digital marketing success. It can help you see which touch points earned that big conversion, others that came in with the assist, and even some that aren’t doing as well as you expected.

How Do You Measure Attribution?

Let’s start at the beginning. There are a couple major types of attribution when it comes to digital marketing measurement…

  • First Click Attribution
As the name implies, this type of attribution, gives all the credit to that very first interaction. The first one that kicks things off, grabs your lead’s attention, and gets the prospect moving through the funnel towards conversion.
 
  • Last Click Attribution
If you guessed this one’s just the opposite and assigns all the credit to that last touch point before the conversion you’d be right. In this attribution model, the only touch-point considered is the one that came through for the close and sealed the deal.
 
  • Linear Attribution
This attribution model takes the “there’s no I in team” approach. It looks at the big picture considering every interaction the prospect has with your digital presence and gives equal credit to all touch-points no matter where they fall in the buyer’s journey.
 
  • Time Decay Attribution
In this type of attribution, touch-points are weighted less heavily the earlier they fall in the journey. It acknowledges those that had an initial impact, but emphasizes those closer to the conversion. This tends to work best when dealing with shorter consideration cycles.
 
  • Position Based Attribution
The touch-point that first draws the prospect in and last touch point that closes get most of the credit here. Any touch points that fall in the middle of the buyer’s journey then share the remaining credit equally among them.
 

Why Attribution Matters?

With the help of effective attribution you’ll be able to know not only which tactics are most successful at guiding people through the funnel but also which, if any, are falling short. Maybe emails or social media posts catch your prospect’s attention and draw them in initially, then they go to your website for more information and finally attend an event, download a whitepaper or chat with a sales rep before converting.

Having an idea of which touch-points resonate when in the customer journey will help you better tailor your content strategy to increase those all-important conversions. And because digital marketing allows for optimization in real time, you’ll be able to adjust your strategy in the middle of a campaign, if needed to focus on those tactics that yield the most ROI for your brand.

So now that you know why attribution matters in digital marketing measurement, create a measurement plan to hold your team accountable, align on the type of attribution that makes the most sense for your goals and start measuring. You’ll be well on your way to showing ROI in no time!

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