What do my investments actually bring back?
It sounds like one of the most frequent questions we have when we think about our Marketing Strategy. Answering that question may seems simple or automatic, but when we look at the big picture it turns out to be the opposite. This is a black hole for many companies.
Whether we like it or not, multi-channel attribution has become an unavoidable part of our digital marketing world. As a logical consequence, understanding the role of every single piece of the mosaic and how it interacts with the others is essential.
How much credit should be given to each step?
This is a crucial discovery for maximizing conversions.
What is multi-channel attribution?
Multi-channel attribution allows you to understand those touchpoints a single user interacts with until their conversion process. In simple terms, we are talking about what the customer goes through and that eventually leads to a conversion.
Why is this important to know?
Having a full understanding of the big picture, allows you to define what channels are not working as expected and those that have been underestimated. It is crucial for developing successful marketing campaigns and consciously planning where to invest your available budget.
Unfortunately, increasingly larger data sets are making attribution more difficult. Tracking with great accuracy all your touch points related details across an entire customer journey requires the use of powerful attribution tools to simplify the process.
What is an attribution tool?
Attribution tools help you determine the outcome of your digital campaigns and channels. They place themselves as the middleman between your marketing platforms and your website. The ultimate purpose of these tools is to effectively determine which acquisition sources are driving conversions and provide you with all the details about your customer journey.
Speaking of multi-channel attribution, adopting this model doesn’t happen overnight. It’s a measurement method that involves the entire company.
How to simplify your multi-channel attribution strategy
At this point, it makes sense to assess how this complexity can be overcome and make sure you finally pick the best tool to fully support your marketing strategy. When choosing the attribution tool you want to work with you should consider not only your business goals, but also two main factors of the tool itself:
How many native integrations the tool has:
Talking about native integrations, it appears logical that as your business grows you may need to use more integrations. This side is relevant while selecting a specific tool and considering its wide range of integrations.
Cost and ease of implementation:
These are two criteria with a high level of correlation. The tool may require implementation support from development teams. In an alternative, the tool may be easier to install and so more appropriate for the company’s’ need.
There are many platforms you can use for multi-channel attribution, each with different features.
Looking for a platform which gives you the most comprehensive analysis can be a bit overwhelming, which is why it is recommended to also search for data integration solutions tailored around your company’s needs. By exploring alternative platforms, you may find solutions that provide full support to your marketing strategy by allowing you to perform a much deeper and detailed analysis of your data.
Besides, the main purpose of these tools is to simplify your work by gathering all your data from different sources in one place to process it and present it to you with a unified view.