As you think about your marketing mix investments, you will realize that your B2B customers are going to interact with multiple channels prior to adding value to business. Someone may do Google search on marketing services and find your marketing agency, then go to Facebook to further research your agency, then visit your website directly, and finally sign-up for services. This is called a “search session.”
It’s great that there are so many touchpoints guiding the B2B customer to the finishline, but which channel interaction gets credit for the conversion? This is both the definition and reason for Attribution. We need Attribution Modeling to find out how much credit each touchpoint gets before conversion. This enables efficient budgeting, to find out what is working and what isn’t, and accurate ROMI calculation.
What Attribution Modeling is NOT is a “set it and forget it” practice. You cannot build a model and walk away because the industry, your data, and your business objectives will evolve. You shouldn’t make things too complex right out of the gate. Its human nature to want to overcomplicate things, but only through active monitoring of data over time will you really be able to experiment with what’s best for your business.