Attribution models attempt to share out, or define who should get the credit for contributing to leads or sales. It’s infinitely sensible to figure out what’s marketing communications is working.
It allows you to look at both; areas that are not working and how you can fix or abandon those, and to consider what extra resources might be made available to winning formula.
Digital Attribution Modelling
Google Analytics ‘Page Value‘ is a wonderful example of a web page attribution model. Presuming you have goals set up, and a value assigned to goals, it’s a matter of a few clicks to see which webpages prospect visit before converting i.e. which website pages should be getting credit for converting website visitors into prospects / customers.
Using Google Analytics Goals For Webpage Attribution Modelling
You don’t have to be an eCommerce site to use goal values in Google Analytics. Many B2B organizations have long lead times and the sale is completed offline perhaps with the asssitance of sales people and channel partners. In this situation you can learn which of your website pages contributed to turning a website visitor into a lead. Select a representative amount, often people choose $1 / €1 / £1, as the goal value. This way you can see the relative, not the absolute value of any given page.
Digital attribution modelling is just that: digital only. Web analytics tools such as Google Analytics automatically include search, people who go directly to your website (for example by typing the website address) and those coming from other websites. Custom campaign tagging is required for email and very insightful for multichannel campaigns, particularly paid campaigns.
Of course, wonderful as they are, website analytics only tell you about what website visitors are doing on your website, as well as how they got to the site.
Offline Attribution To Business Goals
It’s important to consider the offline ways your prospect touch the organization on the journey as they consider which vendor, technology or approach can best help.
For example, in the case of a B2B channel partner business model it turned out that the most expensive form of lead generation is also the best. Leads, which were generated from face to face educational technology workshops, resulted in larger deals and the conversion rate, the amount of prospects that became customers, was also higher.
With fine-tuned attribution modelling and marketing technology to support your people and processes, the role of various teams such as sales can also be learnt.
Who Controls The Attribution Model
In all case, as Lars Hirsch points out, there is a risk that “whoever owns your attribution model, owns the budget”. Oversight and modelling needs to be comprehensive and transparent.
Additional Resources On Attribution Modelling & Metrics
- The 3As of Marketing Metrics.
- Adrian Vender on Multi-Channel Attribution
- Avinash Kaushik on the steps to Digital Attribution Awesomeness
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