If you read our “What to Focus on in Marketing Attribution”, you probably know what it is and how you can make the most of it. However, sometimes, we need more inspiration to get started with innovative things in life and bid adieu to the traditional ways that are of less importance.
In this post, we will discuss the top 3 benefits of attribution modelling, which are enough to initiate the inspiration you need. The benefits will get down to explaining what attribution modelling actually does for your business and why you need to care more about it!
1. Marketing Investments Are Directed Towards The Best Reciprocating Channels
Attribution modelling statistics bring everything to the plain sight of an advertiser. Clear information about the customer’s first step to his last is well-presented for analysis with the help of attribution modelling. This fosters the efficient allocation of marketing investments towards the areas that perform and reciprocate the best.
Attribution modelling equips a marketer with every bit of information regarding what hooked the customer, his social media interactions, how long it took him to get in touch and then purchase, and what factor drove him towards the decision etc. With all this information, it becomes easier for the marketer to direct the marketing investments towards the best reciprocating channels and campaigns. This saves the budget from being directed towards less effective channels, which also ensures improvement in ROI.
2. Gives A Better Insight Into Customer’s Behaviour
Attribution modelling paves the way for better understanding of customer behaviour. This not only helps in the improvement of products and services in order to meet their demands, but also helps in creating marketing strategies that capture a larger group of audience.
For instance, if the stats show that more customers use your website on their smart phones as compared to desktops, then probably it’s time to switch to a mobile app or have a mobile-friendly website. Also, you can reap greater benefits from offline marketing by simply adding a QR code to your pamphlets or an opt-in to your SMSs. As your target audience likes to reach you through smart phones, scanning a QR code or clicking the link in SMSs, will give them the ease to access your website on their smartphones.
It’s all about interpreting the stats presented by Attribution modelling because they are derived out of customer behaviour. Interpreting and implementing the insights in an efficient manner can result in enhanced ROI.
3. Better Understanding Of Different Marketing Channels Working Together
Multi-channel Attribution Modelling can provide a deeper insight into how the different marketing channels are working together towards the growth of business. Marketing channels like social media, emails, websites, content, ads etc. are tracked well through attribution modelling and stats are presented so that streamlining them becomes easier.
For examples, it will show you the top-ranking keywords that draw traffic to your website so that you can frequently use them to capture more audience. It also shows which social media platforms interest the target audience and what campaigns drive most engagement. Conversion reports based on different marketing channels also help in deciding and putting more efforts towards the best-performing networks for better conversions.
These benefits are all focused on ROI enhancement, which is the sole purpose of marketing. Boosted ROI results in greater profit margins, which leads a business towards growth, something we all are striving for.
Windsor is a new-age data integration and advertising company that can help you in getting the most out of your marketing efforts with its advanced attribution modelling. Contact us now, if you wish to take actions where they matter the most!