3 Best Practices for Winning in B2B Marketing Attribution Modeling

Debra Morgan, Marketing Tech Outlook | Wednesday, November 04, 2020

As marketers continue to depend on a wider variety of channels, marketing attribution becomes much more important.

FREMONT, CA: It is extremely difficult to identify marketing channels where brands can put more effort into getting desired outcomes and stop running those channels that are killing the marketing budget. But, with the help of attribution modeling, brands can discover all those hidden marketing campaigns and touchpoints that can effectively accelerate the revenue of the brands. Expert marketers recognize the benefit of using multi-touch attribution modeling. It is helpful for them to increase their customer engagement by tracking and measuring the performance of different touchpoints, which is almost impossible without using marketing attribution. To get the maximum benefit from marketing attribution, here are some best practices.

• Capturing Ad and Conversion Data

When it comes to attribution, most B2B marketers feel they are in a state of data chaos, struggling under a combination of web, channel, and CRM that has been tailored together to give them the information they need to perform their jobs. To get an accurate and timely perspective of how buyers are communicating with touchpoints, customer acquisition costs, and lifetime value, brands need to integrate ad and conversion data into an attribution system of record. This allows brands to accurately allocate revenue and cost back to all marketing touches and channels.https://marketing-automation.martechoutlook.com/vendors/top-marketing-automation-consulting-services-companies.html

• Connecting AII Touches to Buyers' Journey

Instead of trying to make sense from fragmented lists of marketing touches, best practice B2B marketing attribution automatically connects all the touches to the buyer's journey. This means every touch that gained its intended outcome is connected to the buyer throughout their journey and is attributed to a revenue credit and cost, resulting in a higher degree of precision and giving marketers the insights they require to optimize their budgets to revenue.

• Unifying Offline Attribution

While offline marketing generally represents large B2B budgets, their conversion results are often disconnected from online marketing efforts, which can lead to erroneous ROI conclusions and misguided budget allocations. Success is usually based on leads captured, with complete revenue credit allocated for any wins that were collected under a conventional first or last touch system.

tag

ROI

Weekly Brief

<

Read Also