Attribution reporting
As a marketer, you must measure and improve the effectiveness of your marketing campaigns. Therefore, it is imperative that you calculate the return on investment of your campaigns. It helps you to double-down on campaigns or channels with positive returns and discard ineffective marketing programs.
With attribution reporting, you can report and visualize campaign performance across the funnel to prioritize the best campaigns.
Multi-touch attribution reporting
The journey of your customers can span across many touchpoints before resulting in a conversion. To optimize campaigns and create more customized customer experiences, you must know the touchpoints and messages that your customers experienced and that resulted in a positive action.
Multi-touch attribution determines the value of each customer touchpoint that leads to a conversion. With this feature, you can learn about the marketing campaigns that resulted in the conversion. You can leverage that information to allocate future spend effectively by focusing on campaigns that have the most influence on conversions.
Traditionally, marketers had to rely on single-touch attribution, which gives credit to one marketing touch for conversions. For example, if your customer reads a blog post and converts, you credit the blog for the conversion. However, you ignore other customer touchpoints.
Multi-touch attribution allows you to understand the conversion paths that your customers took with more clarity.
Benefits
With multi-touch attribution reporting, you can have enhanced:
Budgeting: Use historical attribution data to analyze future spend and understand the campaigns that drive pipeline and revenue.
Branding: Measure the impact of branding campaigns.
Campaign ROI: Measure the performance of a channel and analyze where your marketing budget is best allocated during the stages of the buyer journey.
Forecasting: Predict how future spend might perform and prioritize campaigns that can hit your future pipeline and revenue goals.
Prerequisites
To use this feature, you must configure a few database tables. To check whether you are eligible for such configuration, contact your customer value manager (CVM) or account manager.
Attribution models
With attribution models, you can apply a different credit to each interaction. For example, some models apply all credit to the first or last interaction in a customer journey, while others use mathematical rules to weigh credit.
The available attribution models in Customer Data Platform (CDP) are:
First touch
Last touch
Event distribution (Linear)
U-shaped / Position-based (40-20-40)
Time-decay
First touch
This model gives all credit to the first interaction that led to a conversion.
Last touch
This model gives all credit to the last interaction that led to a conversion.
Even distribution (Linear)
This model looks at all the interactions that led to a conversion and gives equal credit to each interaction.
U-shaped / Position-based (40-20-40)
This model gives 40% credit to the first interaction and 40% to the interaction that created a conversion. In addition, the model gives the remaining 20% credit evenly across all interactions between the first and last.
Time-decay
This model gives more credit to the most recent interactions. The credit for interactions keeps decaying with the time it takes for a deal to become conversion.
Using attribution models
To use the multi-touch attribution models:
Click Analytics > Metrics > New > New Look.
In All Fields, expand Attribution.
Select Attribution Model.
In addition, you can use filters such as Attribution Event Type or Event Start Date to further refine the data in the report.
Select the operator.
For example, is.
Select a model from the following options:
First Touch
Last Touch
40-20-40
Even Distribution
Time Decay
For more information on the attribution models, see Attribution models.
The system populates the report based on the selected model.
Using dimensions and measures
CDP offers multiple dimensions and measures that you can use to generate multi-touch attribution reports. For more information on the standard multi-touch attribution dimensions and measures, see dimensions and measures.
Using standard dashboards
In addition to the customized multi-touch reports that you can create, CDP provides two Out-Of-The-Box (OOTB) dashboards.
To use the standard multi-touch reporting dashboards:
Click Analytics > Metrics > Metrics Launchpad.
Select one of the following:
D08 - Multi Touch Attribution
D09 - Multi Touch Attribution: Campaign Performance
The system displays the corresponding report.