marketingtechoutlook

3 Market Attribution Trends Transforming Conventional Marketing

By Marketing Tech Outlook | Thursday, October 24, 2019

Market attribution trends encourage marketers to explore new ways to achieve branding, campaigning, and customer experience.

FREMONT, CA: Market attribution contributes to accelerating business revenue rates by focusing on various marketing trends and solutions. Market attribution trends help organizations target the right customers with the right offerings while tracking their marketing strategy performance on multiple channels. The growing competition in the global market makes it necessary for market professionals to adopt the latest trends and improvise their existing market attribution models. Today, marketers witness the multi-channel presence of customers, creating opportunities for market professionals to access insights about their ad performances and effectively identify the areas for improvement.

With modern tools and technologies, marketing attribution models enable the extensive coverage of user touchpoints. In recent years, digitalization has introduced standard solutions for the increasing market operation complexity that help market professionals develop advanced marketing strategies. The emerging marketing attribution trends not only solve the issues of present marketing management but also guide marketers to incorporate the multi-faceted approach to branding, campaigns, and customer experience.

1. Key Performance Indicators

The present era of the digital advertisement offers numerous benefits to marketing professionals, where they can use digital platforms to grow their ad viewing traffic, and access leads to meet their business goals. The marketing attribution models include Key Performance Indicator (KPI) that frames opportunities to optimize and modify the marketing efforts at various channel levels. Advanced KPI provides greater transparency into the multi-channel level performance and helps the marketing professionals smartly margin their advertisement budget. Marketing professionals take advantage of KPIs for executing approaches like ad effectiveness, A/B testing, and in-channel optimizations, which lower the cost of organizations’ marketing spend to revenue.   

2. Omni-Channel Marketing Attribution

Omni-channel presence offers marketers the ability to attribute the customer touchpoints and their influence across the marketing platforms. The omni-channel approach allows marketers to provide consumers with highly relevant and personalized services or products at the right time. Marketers' omni-channel strategy leverage marketing attribution to access a complete view of strategy effectiveness and combine insights from both internal and external data for cross-channel campaign success. To attract the attention of modern customers, marketers need customized marketing strategy; the omni-channel attribution strategies help the market professionals understand the complexity of advertising channels, touchpoints, and customer engagement activities. The in-depth understanding of the marketing processes allows marketers to identify opportunities for their campaign optimization and align with their omni-channel strategy. 

3. Multi-Touch Attribution

Multi-Touch attribution allows marketers to understand their marketing spend with granular detail and provide visibility on keywords, and lead ads to conversions. The multi-touch insights can save marketing spend by helping the market professionals in redistributing their budget investment to drive conversions and increase ROI. The multi-touch attribution provides visibility and tour around the entire customer journey while assigning a value to each of the touchpoints. Ingesting every step of the customers' journey, the granular view of marketing touchpoints frame the customers’ path of purchase and help marketers understand the interaction between visited sites, searched keywords, and access channels.   

The concept of marketing attribution continues to develop and improve with the changing global market. Market attributions let marketers explore new opportunities for adding values in the existing campaigns and market strategies. The attribution models help marketing teams to connect the marketing approach to revenue outcomes by expanding the marketing governance areas and improvising marketing tactics. The new-age marketing technology encourages the idea of advanced market attribution models that can efficiently offer all-around marketing solutions. 

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