What is Attribution?
Marketing attribution is the science of analyzing your marketing efforts in different channels to understand what is driving consumer purchases. By understanding how users engage at every touchpoint of their buyer’s journey, marketers can attribute their sales to their marketing efforts.
The Attribution Challenge
Consumers interact with your brand across different devices with countless data points. Therefore, it’s becoming increasingly challenging to track, analyze and measure cross-channel attribution.
At their annual Google Marketing Next conference, Google announced that it wants to get rid of the obsession with measuring attribution based on the last click before consumers make a purchase.
Cross-channel attribution (across email campaigns, digital ads, TV spots, store visits, etc.) is much more dynamic and complex than simply relying on the “last click” as a measurement.
Once a digital campaign is delivered to your target audience across multiple channels, it’s essential to utilize different tools to accurately measure what was impactful in driving customer engagement and/or purchase.
Attribution tools increase transparency of campaign ROI by accurately measuring the success of your digital campaigns – from start to end.
4 Attribution Tools that Measure Beyond the “Last Click”
1. Point-of-Sale Matchback – What led to a sale?
The strong start to any digital marketing campaign is to build a target audience that’s fit to your goals and needs.
If you begin your campaign with a target audience of real, identified people linked to specific home addresses, email addresses and/or mobile devices, you can match your post-campaign sales data to understand who made a purchase after receiving your offer.
By matching sales data back to the original audience data, you can understand what successfully led to a purchase.
2. Beacon Tracking – What drove foot traffic?
Beacons, also known as the lighthouses of mobile marketing, provide the technology to detect all nearby mobile devices that enter your retail location.
This allows for foot-traffic attribution, which tracks who from your target audience received an offer from your campaign and then physically visited your store.
3. Geo-Fenced Listening – Who’s nearby?
A geofence campaign utilizes real-time location services to build a virtual barrier or “fence” around a specific radius of a store or retail location.
With geo-fenced listening, marketers can identify nearby individuals for a hyper-local target audience, as well as target them with personalized offers (such as push notifications) to drive them to your store.
Then, you can measure and analyze how these hyperlocal, personalized offers impact overall foot traffic and sales during the lifetime of your campaign.
4. Cross-Device Pixel Tracking – Where is my audience engaging?
Most tracking platforms fall short in tracking a single person and his or her various data points across multiple devices.
Though customers and brands are increasingly expanding the number of data sources across multiple channels, only 30% of marketers use advanced attribution tools to measure the impact of their media efforts.
Cross-device pixels integrate with your web page to accurately track site visitors and gain a single customer view across all devices – from first click all the way to conversion.