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.