Market attribution is the process of identifying actions (i.e. “Events” or “Touch Points”) that contribute toward the success of your marketing campaigns and a desired outcome. Each action is assigned a value and shapes decision making and modification of campaigns.
Why is Market Attribution Important?
Your business has either a fixed or flexible amount of money to spend on marketing. If you blindly go about your marketing efforts, you’ll quickly exhaust your resources and feel frustrated with the outcome.
Marketing attribution allows you to breakdown your marketing efforts and verifying which elements are effective at generating revenue. You can identify which segments of your marketing campaigns are driving the most impact from different channels, messages, and so on.
By understanding your market attribution model, you can clearly outline the touch points with customer interaction then minimize and optimize the pathway to purchase.
[…] Marketing attribution models reflect the various touch points, channels, and influences affecting customers with a business. This is an established “model” that outlines the entire journey from initial contact to final sale. It identifies how a customer is introduced to a business, the interactions they make, and the process to complete a sale. […]
[…] the impact of each touch point that drives conversions. Understanding touch points is a subset of marketing attribution and allows for accurate analysis of a marketing campaign’s […]