Our partners at LeadsRX have guest edited today’s blog article, Attribution 101: A Primer. Read on to understand more about what attribution is and why is should be part of every digital marketers toolkit.
As a leader in providing location-level customer experience management solutions, MarketForce is doing all it can to protect your brand’s reputation and measure and improve operational excellence, customer experience and your financial KPIs.
We at LeadsRx are beyond excited to have partnered with MarketForce, which as of August is the exclusive reseller of impartial multi-touch attribution software for marketers and advertisers throughout Europe. Consider this a primer on attribution, and a brief explanation of how and why MarketForce is using and recommending it to give you the best bang for your buck.
What is Attribution?
An Impartial, Cross-Channel View – MarketForce provides to you a marketing attribution platform that captures all the various touchpoints that commonly guide your prospects to become your customers. Specifically, multi-touch attribution (MTA) provides an impartial, cross-channel view of the entire customer journey to see what channels and where in the funnel people are acting, reacting, and converting. Using attribution, you can identify the specific touchpoints that are influencing new customers. This helps you optimize your ad dollars – increase return on ad spend (ROAS) – and focus that ad spend in the right places at the right time.
Connecting the Dots – Attribution connects the dots between broad-scale marketing programs and customer acquisition, ultimately improving bottom-line profit. Look to attribution to provide the customer intelligence you need. Impartial attribution empowers you to make intelligent pivots in the marketing strategy you have implemented.
Sparking Improved Performance – Through multi-touch attribution, you are armed with the insights, technology and confidence you need to spark improved marketing performance. By examining impartial and transparent attribution data, you can adjust and adapt your mix of marketing activities knowing you have a complete, unified view of your customers’ buying journeys.
Bottom-of-the-Funnel Focus – You are able to focus on the bottom of the sales funnel, where buyers reside, and not rely on reports showing only top-of-the-funnel activity where everyone else is. With attribution, data on conversions (customers who made a purchase) is influencing your decisions. It’s empowering, impartial knowledge to help you grow your bottom line.
So How Does Attribution Work?
Without getting too technical, MarketForce employs a plethora of key technologies that work together to identify the entire customer journey for both online and offline events. Touchpoints are captured when prospects visit web pages, participate in marketing campaigns, view impressions of ads, complete customer surveys, calls to contact centers, engage your brand on social media, and move through the sales funnel.
A Tracking Pixel – The most important of those technologies is the LeadsRx Universal Conversion Tracking Pixel™. Once MarketForce installs the proprietary pixel on your website, it immediately starts collecting data. It collects data on marketing touchpoints from common sources such as Google, Facebook, Twitter, Instagram, Pinterest, UTM parameters, referrals, and more, instantly adding these to your attribution insights dashboard.
Pixel Studies the Touchpoints – The pixel automatically learns about these touchpoints and gives each the right amount of credit while also storing individual customer journeys. Journeys are then aggregated for fast reporting and attribution insights. Little setup is required, so you and Diray are able to see results within just a few days.
Open Attribution API – For more robust capabilities, the LeadsRx Open Attribution API™ becomes an integration hub for receiving external data feeds and sharing attribution results. Using the API, you can connect attribution insights to business reporting dashboards such as Tableau and Domo, or a customized solution. Data feeds such as broadcast spot logs, call center data or even vendor feeds can all be connected to MarketForce’s custom reports and dashboards with the easy-to-use API. Most importantly, the Open Attribution API works with custom applications, Google Tag Managers or website data layer variables to be sure customer-level profile information is properly and securely captured.
Real-Time Results – Best of all, you can see results in real time, including data on marketing-specific measurements such as conversion segmentation, attribution summary, marketing touchpoint performance, content frequency and attribution, customer journeys, return on ad spend, cost of acquisition analysis, and much more.
Tracking Online and Offline Channels – In addition to tracking all of the digital channels used in marketing campaigns – Google and Facebook ads, website forms, customer surveys, etc. – multi-touch attribution tracks non-digital channels, including radio, TV, podcasts, OTT, contact center calls, and even direct mail. Tracking offline channel attribution provides a true multi-touch approach that captures the entire spectrum of marketing initiatives – whether you are marketing directly or using MarketForce on your behalf.
An Innovative Tool – Attribution is an innovation that has become a proven, effective instrument in the tool belts of marketers. With help from MarketForce, wield it to help tweak your marketing campaigns and, ultimately, drive profitability.
The MarketForce-LeadsRx Partnership
We are ecstatic to be working with MarketForce to spread the word about the power of attribution throughout Europe and expand on the success both of us are already having in North America.
MarketForce has been a user of the marketing attribution system for more than three years, working with its eCommerce clients based in the United States, Europe, and Asia. As the exclusive vendor of LeadsRx in Europe, MarketForce will offer technical support and setup services as well as other value-added services for businesses of all disciplines and sizes.
MarketForce will assist with the easy onboarding process as well as with homing in on attribution insights once you are up and running.
If you are interested in learning more, register here for a demonstration of the platform and outline of services.
Lucas Sommer is the Director of Marketing at LeadsRx, headquartered in Portland, Ore. Over the last decade, Lucas has worked with hundreds of organizations and marketers to set up their attribution and help them garner useful insights from the data.