Marketing Attribution
Marketing Attribution
is defined as the process of identifying a set of user actions known as events
or touchpoints that contribute in some way to achieve the desired output. Each
of these actions is later assigned a value. These events or touchpoints include
any branded interaction caused from a TV commercial to a promotional email
offer.
Marketing attribution
is a strong tool for those individuals who can uncover various inner workings
of their efforts and to use this knowledge in creating game-changing marketing
strategies. By using this tool, marketers understand their customer and
touchpoints with highest engagements to create effective marketing strategies.
They also use it to understand the value of the customer and looks into the
campaign to get insights on how to creatively solve the problems faced by the
company and its customers.
The common types of
marketing attribution models are First-Touch Attribution, Last-Touch
Attribution and Multi-Touch Attribution. Firms use any of these models to focus
on discovering the best and most effective methods to drive revenue through
suitable marketing strategies. While choosing marketing attribution, ensure not
to use any of the outdated models.
It lets marketing teams
to optimize spend on campaigns and choose the most impactful one with higher
conversion rate. Though balancing brand awareness and ROI is a difficult task
for all marketers, marketing attribution gives you the required resources to
create an impactful marketing campaign.
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