Analytics & Attribution Best Practices
You spend a lot of time and money developing marketing programs, selecting sources, and creating valuable assets to share with prospects. But given all of the touch points your prospective customers experience before converting, it can be difficult to track the effectiveness of individual initiatives, and even trickier to calculate the cumulative effect that your marketing programs are having on your business's bottom line.
How, then, do you accurately measure success? As one of our signature services, RevEngine Marketing helps maximize insights into your business with an attribution model customized for your business needs.
What Is An Attribution Model?
An attribution model is kind of like the "special sauce" of marketing automation. You know that there are few holes-in-one when it comes to driving business; rather, it takes multiple touches to close the deal.
An attribution model is a data-driven approach for calculating each touch point's contribution to a conversion - whatever action it is that turns a lead into a customer. This helps you understand what’s working and what’s not, while giving credit to the proper marketing programs with all the touches along the way.
Our methodology combines strategy, process enhancements and execution to bring you the insights you need. The catch is that it is based on consistent marketing automation best practices framework. The key here is good data.
RevEngine Marketing's Attribution Model Process
Through RevEngine Marketing’s signature process, we'll help you develop a customized attribution model for business insights using the following steps:
- Determine most important Key Performance Indicators (KPIs).
- Build consensus on how to measure source (e.g. Advertising), versus asset (e.g. Case Study).
- Develop a strategy for consistent naming conventions that match your reporting objectives.
- Integrate high-level web analytics (Google UTM) into your attribution strategy.
- Create a first/last touch model that supports multi-touch analysis.
- Standardize Lead Capture - Ensure EVERY major touch is tagged with appropriate source, asset and program information.
- Revamp forms if needed to capture intelligence in appropriate format.
- Differentiate Program intelligence versus Lead Source insights.
- Implement web tracking code to measure appropriate first and last touch (Google UTM).
- Establish a link tracking system, which is core to attribution management.
- Backfill data for historical analysis.
- Depending on your needs and budget, we’ll recommend a combination of the following:
- Salesforce reporting.
- Standard Marketo and Revenue Cycle Explorer reporting.
Through this process, you will gain incredible insight into your leads' activity. While this is invaluable to marketing to help determine what's working and what's not, this information is equally important to share with sales. Leverage this new data and feed the intelligence to sales so that they can reach out with more personalized messaging and offers, moving leads through your tunnel faster, and ultimately closing more deals.