Effective marketing strategies result in tangible, measurable behavior from target audiences. Identifying and using these strategies can improve your ROI, but doing so isn’t always straightforward when using multiple channels to market your business or brand.
When someone fills out an online form or calls your business, you need to know why they made that decision. Was it your Facebook ads or your Google Ads? Your latest email offer or your flyer?
Enter advanced marketing attribution (AMA). Using detailed analytics, this type of marketing attribution can pinpoint which marketing efforts resulted in conversions. But what is marketing attribution? And how can you get started? Read on to learn more.
What Is Advanced Marketing Attribution?
Marketing attribution is the process of associating specific marketing efforts, called touchpoints, with specific customer behavior.
For example, if you track how many people opened and responded to an email, you are engaged in a straightforward form of marketing attribution called single-touch attribution.
Advanced marketing attribution takes this process further. Sometimes referred to as multi-touch attribution, this process evaluates and compares the impact of multiple touchpoints.
You may even be able to determine which touchpoint played the most considerable role in encouraging consumer action. For example, if an individual sees both your Google Ads and your flyer, you can use AMA to determine which of the two ultimately convinced them to act.
What Are The Benefits Of Advanced Marketing Attribution?
Taking your marketing attribution to the next level presents two main benefits for your business, these are:
Optimized Marketing Strategies
AMA allows you to evaluate each touchpoint’s relative effectiveness and focus only on the most productive ones.
It also shows you essential granular information, such as which touchpoints:
- Combination works best
- Delivered the most conversions
- Resulted in the most significant profits
- Work best for each target audience
- Work best at specific stages in the sales funnel
Because you can use AMA to determine the most effective approach when targeting specific audiences, funnel stages, and more, you can personalize your approach for individual leads to maximize your chances of eliciting action from them.
Optimized ROI
Personalized, targeted marketing efforts allow you to maximize the results of your marketing budget and tactics by focusing on those that are proven to deliver the best results for your business.
By spending less money to achieve more sales, you can achieve a more significant ROI, thanks to the AMA that tells you which marketing tactics are driving consumer actions.
The Tools Of Advanced Marketing Attribution
Advanced marketing attribution relies upon many sophisticated tools and strategies that deliver the in-depth analytics necessary to view a consumer’s journey to conversion and pinpoint the critical influencing factors along the way. Next we’ll discuss its two main tools.
Data Collection
AMA focuses first on collecting data regarding every lead who engages with your business. In particular, this approach identifies the touchpoints that drove consumer actions.
Take dynamic number insertion, for example. This strategy involves creating a unique phone number for each of your touchpoints. For example, your Google Ads and your email offer landing page would each have a separate phone number that forwards to your business.
If you can see which phone number each lead called, you can see which touchpoint convinced them to act. Collecting this data from every lead allows you to see whether your Google Ads or your email offer were most effective in generating leads.
Dynamic number insertion is only one tool that allows you to evaluate the driving force behind only one type of customer action: Phone calls.
You need data on what is the driving force behind leads who contact you in other ways. Such as via your website or by walking into your store, for example.
Besides, you need to know how a lead behaves after contacting you and whether specific target audiences differ in the type of marketing efforts that prove most useful.
AMA uses a variety of tools to help you capture a comprehensive picture of your marketing effectiveness and collect information such as the following;
- Lead origination across all forms of contact (Phone calls, emails, online forms, foot traffic)
- Impact of both online and offline marketing efforts
- Lead action after brand engagement
Data Analysis
AMA also enables you to analyze all of this data to gain actionable insights into your marketing efforts. Use it to accomplish the following:
- Evaluate the impacts of marketing on leads at every stage of the sales funnel
- Track each lead’s entire journey through the sales funnel
- Break down lead response to your marketing efforts based on demographics (e.g., age, location, income level)
- Analyze all data to determine the most effective marketing strategies
You can even use AMA to evaluate the best way to approach leads based on their demographics, thereby personalizing your response and maximizing your chances of winning a conversion.
How to Get Started
The only way to obtain all of this data and analyze it effectively is through a platform that can deploy advanced marketing attribution, centralize the data, and evaluate the analytics.
There are many platforms available for implementing AMA, but it’s best to combine the benefits of CRM with the advantages of AMA. For that, you need GoCRM.
Our platform makes it simple to collect and analyze the information you need to pinpoint the touchpoints that generate specific consumer engagement with your brand.
Here are just some of the features that make AMA easier for you:
- Dynamic number insertion and call tracking
- Automated tasks and workflows
- Centralized data storage
- Integration with hundreds of platforms
- Automatic data importing from each platform
- Detailed analytics
- Lead origination tracking
If you want to get started with advanced marketing attribution, reach out to us today. We can provide you with a free demo of GoCRM and the tools it offers you to help you understand and act upon the driving forces behind consumer behavior.
