Marketers are surrounded by buzzwords. In our new video series, which we developed to promote our new Digital Marketing Hiring Guide, we offer our lighthearted but educational take on a biggie: attribution modeling.
Check out our video on Omnichannel Marketing here.
So what is attribution modeling, and why should you care? Attribution modeling is all about figuring out which marketing channels and touches are the winners and which are the losers.
The most common attribution model is single-source, where you attribute success to the first or last touch in the buyer’s journey. Say a prospect just became a customer. They found you through a social media ad, visited your site, filled out a form, then read a white paper, two case studies, and six blog posts over the subsequent three months. They finally converted to a customer after redeeming a coupon you sent them in an email campaign last week. Attribute the revenue to the social ad? That's first touch attribution. Attribute the revenue to the email coupon? That's last touch attribution.
Unfortunately, marketing can be messier than that. Check out the video to learn more.