Marketing professionals all know that having a high return on investment is a crucial indicator of a successful campaign. It shows that the ads you are running are successful in converting customers.
What if you could take ROI a step further? Effective marketing means understanding the steps that a buyer took along their journey in purchasing your product or service.
What Is Marketing Attribution?
Marketers evaluate the ROI of the channels that connect them to potential customers using marketing attribution. In other words, it’s how a customer learned about and purchased your product or service.
Why Is Marketing Attribution Important?
Consumers interact with brands through several touch points before purchasing because the buyer’s journey is far from linear. Most companies have multiple channels or methods of advertising their business. Facebook, Google, Email are 3 separate ways that customers can come into contact with your company.
Let’s say, for example, that a customer is interested in buying a new pair of shoes. The customer may search the keyword “shoes” in Google and come across your website that way. That’s what would be considered the first contact. A few weeks later, they see a Facebook ad. The customer clicks the link to browse but doesn’t purchase. Later, the customer receives an email, which convinces them to convert.
Traditional tracking methods would use something known as “Last Click” to track and credit purchases. Last click attribution would give 100% of the profit to the email campaign and no credit to the initial Google search or Facebook ad.
The concern with Last Click Attribution is that when calculating ROI on your multiple channels, it would negatively affect your Facebook ads and other media. Integrating powerful software that uses other means of tracking is your only way for a clear ROI.
Marketing Attribution Tools
Compelling, powerful attribution is only gained through software tools like Journicity. These tools can be integrated into multiple channels to follow and track the buyers’ journey through several touch points. These tools significantly improve your understanding of which ads are most effective, thereby accurately measuring ROI.
Benefits Of Marketing Attribution
Incorporating software that tracks the buyer’s journey will help you effectively budget your marketing spend to the most impactful channels, creating more conversions and moving that bottom line.
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