Attribution management is the science of calculating the monetary impact that every targeted prospect has on producing eventual conversions. Once the impact of those touchpoints is known, more informed decisions can be made to optimize future marketing investments across all your channels, leading to improved efficiency and greater yield.
The attribution management process typically produces an abundance of cross-channel insights for brands and their agencies. However, many marketers struggle with interpreting those insights, translating them into actions, and making those actions part of their standard processes for optimizing their marketing portfolio's performance.
Here are six steps to help translate theory into practice:
Attribution is a powerful tool that shouldn't require you to abandon all of the sound operational processes you already have in place. Use these six steps above as a blueprint for your translation of attribution results into your existing processes. These steps could also lead to an improved marketing performance that would minimize the change management required to embrace the power of attribution.
Manu Mathew is co-founder & CEO of Visual IQ.
On Twitter? Follow iMedia Connection at @iMediaTweet.
Not a People Connection member?
Full Summit Calendar | Request Invite
1 9 Facebook hacks that will blow your mind
2 7 stupid mistakes brands make as publishers
3 6 people on LinkedIn you should follow
4 The most meaningless (and hilarious) job titles on LinkedIn
5 5 predictions for the future of social media