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Experts say you need a Marketing & Revenue Attribution Strategy in 2021. But, do you?
Experts say you need a Marketing & Revenue Attribution Strategy. But, do you have one? Let’s take a deep dive into the world of marketing attribution, revenue tracking and where your customers could be getting lost in the sales funnel.
“Whoever owns your attribution model owns your budget,” states Lars Hirsch, Principal Product Manager of Sponsored Products at Amazon.
What is Marketing Attribution?
The Content Marketing Institute defines marketing attribution as “a set of user actions that contribute to a desired outcome, (i.e., a conversion) and assigning a value to each of these events. It helps you to understand which combination of events in which particular order influences people to engage in a desired behavior. It proves your content is working. It helps marketing align with sales, determines your budget, and can improve your content quality.”
Per CMI, “Marketing attribution is integral to the success of content marketing because the vast majority of touchpoints (instances where potential customers interact with your brand in some way) happen online. They occur when someone reads your blog post, e-book, or infographic, or watches your video. Marketing attribution models enable content marketers to more accurately understand how their content is influencing buyers, and to get full credit for their work.”