The concept of marketing attribution has gained momentum over the last few years. Since the multi-channel marketing mix becomes popular, it has become harder to determine which sources have produced the best results. This is where marketing attribution becomes valuable. As a result of an attribution tool, you will be able to receive clearer results of the efforts you made for your business marketing goals. Let’s see how marketing attribution can be used to achieve your organizational goals.
What is Marketing Attribution?
Marketing attribution is the process that marketers use to assess the value of their marketing and customer relation channels. Simply put, it is the way with which your customers came in contact with your business and buy your product or service. When you think about your final sales, it seems a simple process of your customers buying from you. But did your customer directly go straight to your business and make their purchase? This rarely happens. You must have posted your ads and messages across multiple resources, such as Facebook ads, newsletters, TV commercials etc. With marketing attribution tools, you would be able to track the entire journey of the customer. With this information, you can identify the most optimal marketing channels and focus more on them.
How to Use Marketing Attribution Successfully
Here’s how companies using app attribution tools help to achieve organizational goals:
- Identify the most important channels: Whether you are spending your efforts on search engine optimization of your website or on Google AdWords, you need to find at least 3 best channels you would be using on priority.
- Find out the exact cost data for all attributes: If you want to pin point the most profitable channel, you need to find out the exact cost data of each attribute. You can compare the 3 best channels that you used, and determine the result. After all, this is the basic purpose of mobile app marketing attribution
- Select an attribution model: All credit for final sales goes to the last click, but this can be misleading. It won’t tell you where did the customer came from. The first click attribution model will provide attribution marketing tracking for each and every sign up, conversion and transaction right from the beginning. Some position based models also attribute the first, last and touch points in between. Linear model counts each touch point equally. Simply put, by choosing the right attribution model, you will be able to identify which channels drive most traffic to your company
- Make an overview: Make a list of your channels, how much each of them cost you, and how much revenue they bring to you. Don’t get shocked if some channels bring you nothing. Stop spending time on them for now. Just focus on the most lucrative ones and start to monetize them
- Make changes in your marketing model: Now that you have collected your data through marketing attribution for mobile, you can put it to good use. Change the allocation of your marketing budget towards higher paying marketing channels. Also ask your team members to focus more on those channels.
Choosing the Right Marketing Attribution Tool
In order to get the most reliable insights, you would need to correlate data from all your channels to determine the right optimization for your marketing campaign. You can successfully do this by using a strong mobile app attribution and analytics platform. You would be at an advantage if you find the right tool that can give in an in-campaign insight into your offline and online marketing optimizations.
Unliche is a mobile attribution and analytics platform that goes beyond just the click and gives you in-depth insights into every touchpoint that your customers interacted with before their final conversion. This real-time information further enables you to identify success metrics and make informed budgeting decisions.
When it comes to marketing success, each and every interaction counts and this is where intelligence into performance comes into play. It may be time to stop celebrating “vanity” growth metrics and focus on revenue-oriented performance.