Marketing attribution can be a little intimidating.
Should you rely on first, last, or multi-touch attribution? How do you measure across multiple channels? How should you weigh your attribution model? There are so many choices to make it can be overwhelming.
If you’re feeling stressed by the complexity of multichannel marketing attribution, you’re not alone. According to eMarketer, 58% of marketers spent time trying to understand cross-channel measurement and attribution in 2016 — a number that’s on the rise — and more than 80% of senior-level marketing professionals are interested in learning more about multi-channel attribution.
There’s a reason so many marketers are focused on multichannel attribution today: it’s incredibly important. Marketers are using more channels than ever to engage with their customers, including email, social media, paid ads, and push notifications to name just a few. Factor in the number of unique devices the average consumer uses on a daily basis and it’s easy to no wonder why marketers are struggling to understand why and how their customers shop.
So what should you do? Get a better handle on multi-channel marketing attribution for your own brand and you’ll see huge improvements in how you define the true ROI of your marketing.
You Have to Measure Across Multiple Channels
Every B2C marketer today is already investing in multiple channels, doing a million different things to drive revenue with creative marketing campaigns on Instagram, Google, Facebook, traditional email marketing campaigns, and more. It’s obvious that you can’t ignore one of these lucrative channels when it comes to your ecommerce marketing, so how can you ignore it when it comes to analytics and attribution?
You really can’t rely on simple vanity metrics like clicks or opens — in order to drive more revenue, you’ve got to measure your campaigns’ impact on revenue. In the past, marketing leaders knew that they influenced X amount of revenue, but it was much harder to pin down exactly which campaigns influenced sales and how to attribute revenue to specific channels. Now, you have the tools to understand which campaigns work on which channel, so you can truly optimize and continually improve your marketing.
Centralize Your Marketing Data
The first step to achieving multi-channel marketing attribution is to unify all of your customer data in one place. You have…