How Cross Channel Marketing Attribution Can Improve Your Campaigns
More than 76% of marketers are using attribution to boost their brand and business growth.
This means that if you’re not using marketing attribution, you’re not just missing out on better ROI – you’re losing to the competition.
The good news is that it’s never too late to start, and you can do even better by turning to cross channel attribution. By combining attribution and cross channel marketing, you’ll experience higher sales and waste less time and money getting there.
How do you do it?
Read on to learn all about cross channel marketing attribution and how to use it.
What is Cross Channel Marketing Attribution
What is cross channel marketing attribution anyway?
If you run a business, then you’ve probably heard about the benefits of multi-channel marketing: marketing on more than one platform to improve reach and awareness. Cross channel marketing builds upon this concept by sharing data about the customer experience with each platform to create a more seamless and personalized experience.
Attribution is the act of assessing and assigning value to each marketing platform based on its contribution to business goals or sales. In other words, attribution is all about learning the customer journey and which of your efforts work.
Combine all of the above, and you can learn what each customer responds to on each channel and provide them with targeted messages on all channels.
Benefits of Cross Channel Marketing Attribution
The benefits of cross channel attribution are endless. Not only do you speed up the sales process, but you increase the effectiveness of your marketing efforts. Plus, you do all of it while creating happier customers.
Boost Customer Engagement
One of the many benefits of cross channel marketing strategies is boosting customer engagement.
People see hundreds of ads every day, and they’ve learned to tune many of them out. If you don’t want to get lost in the noise, then you need to stand out. The reason cross channel marketing works so well is that it personalizes the message each lead sees to pique their interest.
Studies show that personalized messages increase conversion rates by 202%. That’s because increased interest means better engagement.
More Loyal Customers
Personalization does more than increase sales. It makes people feel heard and looked after. It’s more than satisfaction – it’s real joy associated with your product or service.
Cross channel marketing strategies also ensure brand consistency, and consistency builds trust.
For your business, trust and joy mean more loyal customers. It costs less to keep a customer than to attract a new one, and your loyal customers will come back for replacements, new products, and upgrades.
Boost Marketing Efficiency
With attribution, you know which of your efforts are successful, so you can stop spending money on the ones that aren’t.
While measuring KPIs for each platform can help, it doesn’t tell you which platform led to the sale. That’s why you need attribution to map out the customer journey. This way, you know which efforts (e.g., emails, social, blogs) generated awareness, built interest, and made the sale.
When you’re spending less and making more, that’s improved ROI. You can finally determine which platforms work for your brand, and which messages on those platforms are successful.
You can also use your better understanding of customers to influence creative campaigns and future product development.
How to Implement Cross Channel Marketing Attribution
So, you know why cross channel marketing is essential to your success. Now it’s time you learn how to implement it.
It’s important to note that building your cross channel and attribution campaign will be a never-ending process of data collection and optimization.
1. Know Your Target Audience
As with any marketing strategy, you need to start with a thorough understanding of your target audience.
It’s recommended that you create buyer personas that include your TA’s demographics, interests, and the solutions your product provides them. For a cross channel attribution campaign, you’ll also want an understanding of where they receive and how they receive certain information.
Chances are, you’ll need to divide your TA into segments. These segments can vary based on demographics, what they use the product for, or even type of product if you sell multiple.
2. Choose an Attribution Model
There are several attribution models you can base your campaign on. The two broadest segments are rules-based and statistical models.
Rules-based models follow a single rule and are based on the strategy you think is best for your business. These include linear, time decay, position-based, and custom attribution models. They vary in how value is assigned to each touchpoint.
Statistical models are optimal but hard to use. These models use data algorithms created for your business that take into account all ongoing interactions on all touchpoints to determine the best strategy possible for any given user. The value assigned to each touchpoint is based on their chances of converting a specific customer according to the algorithm.
Rules-based models are like generic workout programs, while statistical models are like a workout program made for your individual body type and needs. They work to varying degrees, but either is better than nothing.
3. Obtain Needed Tools
To carry out a cross channel attribution campaign, you’ll need data tools that can monitor all touchpoints for each customer and measure success.
This includes finding where leads originate and how they continue down the sales funnel. A popular option is to use URL and cookies tracking so you can follow each customer’s journey. You’ll learn which platforms they used, which messages they saw (e.g., which blog or social post), and in what order.
As AI improves, reinforcement learning is used so that algorithms can continually optimize for what works.
4. Create a Smart Content Management System
Once you have the data and insights, it’s time to put them into action with smart content.
Smart content is content that is customized to each customer. The content they receive is triggered based on them meeting specific criteria or an action they took. An example would be if a lead showed interest in a product on your blog, they might then receive an ad for that product on their social media page.
You can add smart content rules to emails, website forms, and more to increase conversions.
Start Using Cross Channel Marketing Attribution Now
The marketing arena is always improving, and the next step is cross channel marketing and attribution. The best businesses out there are already implementing these strategies, and you need to as well if you’re going to compete.
Follow the steps in this guide, and you’ll be spending less and making more in no time.
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