The 6 Important Things You Need to Know About Marketing Attribution
In the last few months, we’ve been sharing a lot about marketing attribution and how essential it is to have connected systems to capture the data from the entire customer journey to provide insight.
This helps organizations understand which marketing initiatives and campaigns are driving revenue. And it allows marketers to designate resources appropriately and make data-driven decisions to support budgets.
Because we believe so strongly that marketing attribution is the best way to accurately measure and confidently prove marketing’s impact on B2B revenue, we’re sharing some crucial points made in recent blogs by DemandLab’s Manager of Martech Innovation, Casey Grimes:
- Why “winging it” fails: When you fail to measure and set expectations for a campaign, you’ll never have any way of improving it. Before you can even address measuring your department’s performance, a much more pressing question needs to be answered: How do you measure your campaigns?
- How will you measure whether a campaign was successful? It’s a question you should ask—whether you’re a CMO or a data-driven marketer.
- If you’re at the point where you want to invest in marketing attribution, where do you start? By setting up a customer journey, so you can have the most accurate attribution data possible. This might be your biggest requirement—but it’s only the first half of the work that needs to occur.
- You need a unified way to talk about your marketing campaigns. But there are so many options; what’s the best one? Hint: It should feel intuitive to someone who’s had the campaign explained to them in 30 seconds. Otherwise, it’s probably too complex.
- Have you ever wondered why you always seem to get e-newsletters on Tuesday mornings? There’s a reason—and it goes way back to 1997. There’s a lot that marketing attribution models and old memes have in common, and here’s how they can skew our perception.
- And finally, remember the simple question: How often does this campaign influence a sale? Modern marketers can take advantage of the volume of data to allow any measurable touchpoint to be gathered and analyzed across the customer’s journey. This allows the data to describe what campaigns are the most effective and in what contexts, rather than having the marketer prescribe an arbitrary amount of importance
Want to learn more about attribution? Interested in finding out how the right marketing attribution solution can work for you? Contact us.