All You Need to Know About Marketing Attribution

1. All You Need to Know About Marketing Attribution Marketing today involves a plethora of channels for communicating with the customers and the sellers. A purchase decision by the end-user is driven by multiple communicative media platforms. This is what marketing attribution signifies wherein the sellers assess the return from the channels that helped in bridging the gap between sellers and buyers. Consumers go through various messages as well as suggestions from previous users before buying a particular product. They also look out for potential reviews on renowned websites before zeroing on a product purchase. As a consumer, you are likely to review various media and draw insights into the product before purchasing. On the other hand, if you are a marketer, you can track the entire journey of a consumer from the initiation of the process till the last. Role of Attribution in a Business Businesses look for customer experience from various touch points where they have sought information about a specific product. This helps them in tracking and keeping records of user activity throughout the purchase journey. Besides, a business also monitors user activities and produces reports on the same. Likewise, they can organize various campaigns and see if those work for company growth. Nevertheless, there are various approaches to such attributiontools. One has to have prior knowledge of the models to be implemented in a business.

2. Types of Marketing Attribution Owing to the consistent evolution of the digital space, marketing attributionmodeling has taken a giant leap. Besides, there are multiple aspects of marketing too, that need to be covered. Following this, there has been a development of models that are responsible for executing product sales. Here is a brief description of each model for your understanding - First-touch attribution This attributionmodel includes the customers taking their final decision through the first media channel itself. Herein, the lead is generated as well as converted right in the first instance. Therefore, you won’t find any customer interaction in this case, as the end-user does not involve in research and reviews of the product before making the purchase. Multi-purpose attribution Herein, unlike the above-mentioned attribution tools for marketing, customers go for multiple media channels. They look out for reviews and suggestions on those platforms before making a final purchase decision. As a result, every media channel is given the due credit to have led to the final decision of purchase. Last-touch attribution As the name suggests, this model grants credit to the last touch point wherein the customer takes the decision to make a purchase. Herein, the customer engages in interactions with other buyers and users to derive at a conclusion. Weighted multi-purpose attribution The sales cycle touches multiple levels of attribution marketing before a consumer takes the final decision of purchase from a website. This model also credits each level of touch points from where a consumer seeks information.

3. The bottom line Altogether, all these four models of marketing attribution in marketing are beneficial in their unique ways. In order to realize the full potential, it is upon the company to implement the required model.