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 bahamas email list 88272 contact leads football team, which player would get credit for the goal?
If you've already had this kind of doubt, you're 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 customer acquisition, 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?