[April 14, 2023]
Understanding your customers, what they engage with and what is most effective at generating revenue is the best way to ensure marketing budgets are spent wisely.
Let’s say you’ve created a campaign with multiple touchpoints — emails, social media, print ads, digital ads and more! But how can you determine how effective each piece is at leading to a conversion?
At AKC, we utilize attribution reporting to quantify how significant each touchpoint — site interactions, link clicks, email views, and so on — is in your contact’s journey.
“Our ultimate goal is to determine which touchpoints, platforms and assets are most valuable when it comes to lead generation, deal creation and driving revenue,” said Brianne Pudenz, Marketing Data Analyst for AKC Marketing. “Analyzing this data allows us to put your dollars exactly where they’re needed to maximize the effectiveness of your marketing strategy.”
For example, we developed a robust attribution reporting model for our client, Lely North America, to evaluate outreach efforts for automated farming solutions. and update that model every quarter to ensure marketing dollars being used efficiently and effectively.
The touchpoint formula specifically highlights which types of interactions were most helpful in closing deals. We measure units of success per touchpoint, or more simply, units per touchpoint.
With this model, we found that in-person meetings were the most effective touchpoints, earning a unit per touchpoint score of 0.28. Website interactions were also valuable and earned a score of 0.15. Other valuable interactions include landing page views and paid ad clicks, both of which scored 0.13.
“We review our revenue attribution report with Lely each quarter,” Brianne said. “The goal is to monitor trends to improve overall return-on-investment in our marketing efforts.”
Conversely, the touchpoint system allows our clients to see what may not be performing as well as we’d like, and can be viewed as potential areas of improvement. If email clicks, social media posts and blog visits aren’t big contributors in closing deals, our clients can either reevaluate the content within those assets or shift their focus altogether.
Not all attribution reporting is created equally, however. Creating the robust and successful model we have in place for Lely is due in no small part to our years of experience working with the company. There often isn’t a quick fix to jump ahead on a process like this, but if you have the time and patience, it can be well worth the effort.
Want to explore what attribution reporting might look like for your operation? Let us help by contacting us today.