This growing trend comes from the fact that multi-channel marketing is becoming more complicated. As more channels and marketing opportunities emerge, it becomes harder to tell which ones have been the most successful. That’s when you need to set up a marketing attribution strategy that will provide clearer results of your efforts.
Here are six steps to help you get started with your marketing attribution strategy:
1. Set your goals
The first step to create an attribution strategy is to define your goals. It’s about setting up your expectations and what would be considered as a successful attribution model.
A clear strategy allows you to be accountable for your goals, while it’s also easier to follow them throughout your reports.
Moreover, the choice of your goals will also help you decide the attribution model that works better for your case. This will improve performance analysis of your marketing activity in a way that it assists your key objectives.
The more advanced your company is on data-driven attribution, the more challenging the goals. However, if you feel that you’d better start with simpler goals, then your strategy should reflect these thoughts. Your metrics will ultimately help you decide how attribution will work better in your case.
2. Define channel goals
Once you decide on your marketing attribution goals and how they will affect your strategy, it’s time to narrow down your objectives to your channel-specific goals.
Even if you’ve just started with attribution you can still analyze your current performance on each channel. Start organizing the goals you had already set for each channel. If you want to focus on new channels, then this is great opportunity to involve them in your strategy.
Decide on the desired objectives and simplify the measurement of the ROI.
Think of how some channels may (Read more...) more useful in your case for awareness and consideration. Also, keep in mind how other channels might be more effective in lead generation and conversion. This is the step where we realize how each channel can have different objectives, making it harder to measure a holistic marketing performance.
And that’s where attribution comes to assess all the touchpoints for a complete analysis of your marketing activities.
3. Align attribution objectives with business goals
You need to confirm that your attribution objectives align with the company’s business goals. Before you decide on the best attribution model it’s useful to get the internal buy-in that will give you the freedom to focus on your new goals.
Explain to the rest of the team how a data attribution strategy can make your marketing more effective. Find the connection between the marketing objectives and the business goals. Present how your channel ROI and the analysis of the touchpoints will improve the customer journey.
Use existing data to show the challenges of marketing measurement and proceed towards a holistic analysis of your goals. This way you gain the time to focus on the marketing shift and you’re increasing the chances of seeing multiple benefits across different departments.
For example, an improved marketing measurement can help marketers understand their ROI more effectively. It can also help the customer success team to improve their interaction by earning more of what their customers want. Moreover, it can also help the sales department to focus on the most successful touchpoints. This can bring marketing and sales closer, improving the wider business goals.