What is Marketing Attribution?

What is Marketing Attribution?

Marketing attribution describes the process of looking at how customers moved through your buyer’s journey towards conversion in an attribution model. You attempt to determine which touchpoints had the biggest impact on the person’s decision to make a purchase. A quality attribution strategy will help you better understand what moments matter the most to prospective customers and how to design your buyer’s journey to be as effective as possible.

With a quality attribution theory, you will learn what marketing strategies are most effective and which ones need some work. You will learn how to improve your sales funnel and better engage with prospects.

Understanding the modern customer

The modern consumer does not typically interact with a brand only one time before deciding to make a purchase. Instead, they will typically interact with brands across multiple channels and platforms as they research their pain points and potential solutions.

When a person realizes that they have a problem they want to solve, they often turn to the internet to learn about potential solutions. Online, they get to learn about potential products and services they can buy to help them solve their problems. They begin to uncover the different companies who claim to have the capacity to help.

These companies then want to begin to build relationships with these prospective customers. You want to help them see that they can trust your organization. They want to know that you are a thought leader and that you can solve their problem in the best possible way.

The content you produce lays the foundation for this relationship. It provides you with an opportunity to educate these potential leads and customers and encourage them to continue engaging with your brand. This relationship entices people to pay attention to what you have to say and consider what you have to offer when they prepare to buy.

What can you learn from an attribution model?

The problem many brands run into is that they need a way to tell how successful their various strategies are. They need to be able to track which strategies work well, what needs improvement, and how their various changes and updates impact lead generation and conversion. This is where the importance of attribution theory comes into play.

By using attribution strategies, organizations can better determine what touchpoints customers interacted with as they got closer to conversion. You will have a better understanding of what content and platforms impact customers the most before they convert. You can then use this information to better allocate budget and resources to improve your buyer’s journey and your ability to engage with prospects.