The best reason to utilize online and digital marketing is the level of reporting available to a brand. However, there is one common problem for most brands though: they are getting their analysis in siloed channels or environments.
Most analytical packages use last touch attribution, which equates to the most recent source the visitor converted from will get the credit for the conversion. The most common problem with this type of reporting is that you don’t understand how the user was influenced over time by repeated visits to your site, exposure to additional Paid, Owned and Earned efforts. Enter attribution tracking!
What is Attribution Tracking (Marketing Attribution)?
Attribution tracking, also known as marketing attribution, offers the ability to understand how marketing affects the entire sales cycle and to optimize across it. Unlike channel specific measurement, attribution describes how display can improve paid search results or how paid can help organic. Attribution jumps silos to analyze how channels work in different circumstances and how they work together.
Why Should I Use Attribution Tracking?
Attribution tracking can also explore why channels work, or don’t work, separately and together. By examining the way in which customers and prospects interact with media, marketers can look into the consumer’s conversion path. We can see how channels assist one another, for example: how email, SEO and social help a sale that gets closed by paid search. This analysis tells us about the customer and how their purchase decision is influenced. This correlates to Google’s study called Zero Moment of Truth, or ZMOT for short, which Online Performance Marketing highly recommends you download for free!
OPM’s Take on Attribution Tracking
There are still large limitations based on the fact that: users delete cookies, cookies need to last more than 90 days in order for tracking systems to properly attribute the multiple exposures and users utilizing multiple devices. While there is no such thing as a perfect tracking solution, and since Attribution Tracking paints the best picture possible of what really drives engagement and sales, we as digital marketing experts need tools like this.
We at Online Performance Marketing continue to push the envelope forward to get the most relevant and accurate data possible for our clients each and every day; attribution tracking can help us achieve this!