Marketing attribution can make your strategy more effective by focusing on what matters. What you need is a strategy to make sure that you make the most of it. Here are four tips to consider when starting.
Marketing becomes more complicated year-by-year and it’s important to be able to analyze its success when setting up a new strategy. The growing number of available channels brings up the challenge of finding a precision when analyzing their effectiveness. Marketing attribution can help marketers explore how each channel contributes to the final goal by taking into consideration the different types of impact that can lead to a conversion.
It’s not enough anymore nowadays to number the last point of attribution that led to a conversion. For example, if you’re aiming to increase the sales of a new product, you want to understand how and why there has been a boost of sales. It’s not just about focusing on the outcome, but you want to explore how this happened to repeat the success in future campaigns.
Thus, it’s time to spend more time on marketing attribution to shape the bigger picture of how sales are activated in your business and which channels are the most effective.
We’ve talked about the initial steps you need to follow when you’re getting started with marketing attribution.
Here is a follow-up on four tips that can improve your understanding but also your effectiveness with marketing attribution.
Before picking the best attribution model for your strategy, you need to have a clearly defined customer journey. A combination of your existing data and a research from your customers and their personas can help you shape a good image of your online customer journey.
This is a valuable process for marketing attribution as it will make it easier to define the touchpoints that convert better for your audience.
Moreover, the next step requires an enhanced focus on your funnel stages. Once you understand your customer journey you need to optimize your funnels to ensure that each stage is making it easy for your audience to continue the actions towards the next step.
Analyse your existing funnels and their success and spot where you may be missing any opportunities to make them even more effective.
Define each stage and explore how MQL (marketing qualified leads) can become SAL (sales accepted leads) or SQL (sales qualified leads).
This process is crucial for your marketing attribution strategy as it can be the backbone of your measurement and the analysis of your touchpoints.
The more time you spend on your funnels and your customer journey in the beginning the higher the chances of creating an effective marketing attribution strategy.
You can’t analyze MQLs and SQLs without bringing together the marketing and sales teams. Each department has a different role in helping the business reach the key objectives but they all complement each other towards the bigger goals.
As the marketing team sets up the funnels and the marketing activities, the sales team can take over with the newly generated leads that can eventually turn into customers.
What’s important at this stage is to agree into the company’s wider objectives to explore how each team can work towards achieving them. It’s the stage that you break down all the silos to explore the best tactics that will favor the company at a holistic level. There will still be specific goals for each team, but this doesn’t mean that you should separate them from your bigger business objectives.
Even if you have already defined your objectives, it’s a good opportunity to analyze them again before setting up a new marketing attribution strategy. This will help you understand how attribution can facilitate the measurement of your goals.
A close collaboration between marketing and sales can lead to an improved understanding of the customer success and how you can improve the experience that will bring you faster to your next goals.
