Multi-Channel Attribution: Understand the contribution of each of your marketing efforts
Posted: Sat Dec 28, 2024 4:03 am
Understand how the multi-channel attribution problem arises and what your options are to solve it.
Clara Borges
Jun 20, 18 | 15 min read
Reading time: 11 minutes
If you've ever managed a marketing team or strategy, you've probably had to answer at least one of the following questions:
Which channel generates more results?
In marketing, what type of strategy brings in more customers?
Where do most of our customers come from?
How to allocate budget to different marketing strategies?
These types of questions come from all sides, from marketing professionals, coworkers, the financial department, and even the CEO of a company, and they can drive any marketing manager crazy. After all, how do you determine the right answers?
In other words, if the marketing strategy were a football team, which player would get credit for the goal?
If you've already had this kind of doubt, you're belgium whatsapp number data not alone! In this article, I'm going to explain how the channel attribution problem arises and what your options are to solve it.
After finishing this reading, I hope you have a clearer vision of your strategy and can begin to make better decisions.
Happy reading!
When does attribution become a problem in your life?
To define the importance of studying attribution, we need to go back to one of the most basic theories in marketing: the marketing mix . It tells us that success in customer acquisition does not come from just one place.
Instead, you need to balance a variety of elements and reach out to potential customers in different ways to get them to buy from your company.
Similarly, a football team consisting only of centre forwards wouldn't be that successful, right?
That’s why a good marketing strategy invests in multiple touchpoints. The more robust your strategy becomes, the more you invest in different channels. And the harder it becomes to determine what contributed to a potential customer becoming a customer!
When you need to set budgets, allocate resources, and make strategic hires for a marketing team, you need to understand which channels bring the best results. Having an attribution model will help you make the best decisions in the medium and long term.
By now you've understood that marketing attribution is the process that helps determine which tactics lead to credit when it comes to bringing in customers, and understanding this is important for making strategic decisions.
But why, exactly, is it difficult to know who was responsible for a purchase? Shouldn't that be a simple answer?
You have also already caused a headache for your colleagues.
Imagine the following situation:
You're starting to train for a marathon and need to buy some running shoes. One day, you go to Google and do a search for "running shoes" to see what's on the market.
You visit the website of a sneaker brand that a friend recommended to you and even enter your email address to receive updates, but in the middle of your search, a call interrupts you and you decide to make your purchase later.
A week later, you log on to Facebook and see an ad that says the shoes you've been eyeing are 10% off at the store. You click on the ad, but you're still unsure, so you decide to wait for your paycheck to buy them.
You wait another week to get paid, and when you get it, you go back to the running shoes site , but you see that the 10% discount is no longer available. Since it's an expensive item, you decide to look for other cheaper options and go back to Google.
While you're searching for other options on Google, a message on WhatsApp distracts you. After reading the message, you decide to check your inbox before going back to Google, and then you come across an email offering a 25% discount on the sneakers you've been wanting. You click on the email, go to the brand's website, and buy the sneakers!
Now let's imagine that you are the marketing manager for the running shoe brand.
[sc name="cta" link="https://ofertas.marketingdecontenidos.com/facebook-ads" image="https://rockcontent.com/es/wp-content/u ... banner.png" title="Facebook Ads: The Practical Guide to Creating Campaigns" description="Learn with this ebook: how to invest in a campaign, how to create ads, the basic and fundamental structure, among others." button="Get the free PDF!" ]
Your company is cutting marketing costs and needs to determine which channel brings in more customers so you can prioritize resource allocation.
In the situation described above, who was responsible for taking you to the store?
Clara Borges
Jun 20, 18 | 15 min read
Reading time: 11 minutes
If you've ever managed a marketing team or strategy, you've probably had to answer at least one of the following questions:
Which channel generates more results?
In marketing, what type of strategy brings in more customers?
Where do most of our customers come from?
How to allocate budget to different marketing strategies?
These types of questions come from all sides, from marketing professionals, coworkers, the financial department, and even the CEO of a company, and they can drive any marketing manager crazy. After all, how do you determine the right answers?
In other words, if the marketing strategy were a football team, which player would get credit for the goal?
If you've already had this kind of doubt, you're belgium whatsapp number data not alone! In this article, I'm going to explain how the channel attribution problem arises and what your options are to solve it.
After finishing this reading, I hope you have a clearer vision of your strategy and can begin to make better decisions.
Happy reading!
When does attribution become a problem in your life?
To define the importance of studying attribution, we need to go back to one of the most basic theories in marketing: the marketing mix . It tells us that success in customer acquisition does not come from just one place.
Instead, you need to balance a variety of elements and reach out to potential customers in different ways to get them to buy from your company.
Similarly, a football team consisting only of centre forwards wouldn't be that successful, right?
That’s why a good marketing strategy invests in multiple touchpoints. The more robust your strategy becomes, the more you invest in different channels. And the harder it becomes to determine what contributed to a potential customer becoming a customer!
When you need to set budgets, allocate resources, and make strategic hires for a marketing team, you need to understand which channels bring the best results. Having an attribution model will help you make the best decisions in the medium and long term.
By now you've understood that marketing attribution is the process that helps determine which tactics lead to credit when it comes to bringing in customers, and understanding this is important for making strategic decisions.
But why, exactly, is it difficult to know who was responsible for a purchase? Shouldn't that be a simple answer?
You have also already caused a headache for your colleagues.
Imagine the following situation:
You're starting to train for a marathon and need to buy some running shoes. One day, you go to Google and do a search for "running shoes" to see what's on the market.
You visit the website of a sneaker brand that a friend recommended to you and even enter your email address to receive updates, but in the middle of your search, a call interrupts you and you decide to make your purchase later.
A week later, you log on to Facebook and see an ad that says the shoes you've been eyeing are 10% off at the store. You click on the ad, but you're still unsure, so you decide to wait for your paycheck to buy them.
You wait another week to get paid, and when you get it, you go back to the running shoes site , but you see that the 10% discount is no longer available. Since it's an expensive item, you decide to look for other cheaper options and go back to Google.
While you're searching for other options on Google, a message on WhatsApp distracts you. After reading the message, you decide to check your inbox before going back to Google, and then you come across an email offering a 25% discount on the sneakers you've been wanting. You click on the email, go to the brand's website, and buy the sneakers!
Now let's imagine that you are the marketing manager for the running shoe brand.
[sc name="cta" link="https://ofertas.marketingdecontenidos.com/facebook-ads" image="https://rockcontent.com/es/wp-content/u ... banner.png" title="Facebook Ads: The Practical Guide to Creating Campaigns" description="Learn with this ebook: how to invest in a campaign, how to create ads, the basic and fundamental structure, among others." button="Get the free PDF!" ]
Your company is cutting marketing costs and needs to determine which channel brings in more customers so you can prioritize resource allocation.
In the situation described above, who was responsible for taking you to the store?