Attribution modeling is an important part of marketing budget efficiency. Understanding the efficiency of your marketing and media planning efforts is a crucial part of the entire strategy, therefore, it is extremely important to correctly define how to measure the return of each contact point where we have advertising activities in operation.
Advertising investments exist due to the need of companies to sell, therefore, advertising measurement focuses on impact on consumers and ultimately on revenue. As important as this may be, other forms of return on investment are also important. Awareness and purchase intention are two powerful indicators of the success of the campaign, considering these key performance indicators you will create a more effective marketing strategy.
Every and each campaign’s touch point offer different strategic advertising results, because the nature of the communication possibilities differs from one format to another. Each one has also a specific place within the consumer journey and purchase funnel. There are points of contact that attract more knowledge than others through visibility, others, instead, through outreach.
Create attribution model methodologies
To achieve the successful development of an accurate attribution model, there must be a commitment throughout the organization. The sales process affects different areas and each of them produces different quantity and nature of data output.
An attribution model methodology must consider different survey techniques to obtain adequate and relevant data. We can implement and put at your service our panel functionalities to track and survey your audience. Consequently, to obtain an efficient model, there is a need to look for other data within the sales process. In conclusion, a solid attribution methodology includes different areas of the company to improve marketing spending.
Sometimes, operations are the problem in making a marketing strategy efficient: if you have poor service, your up-sale prospects will be difficult to meet, despite marketing dollars being invested appropriately. Therefore, using any methodology to obtain the correct data, such as mystery shopping techniques, market research and topography, is as important as granting all contact points an approximate return on the analysis of investment capabilities.
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