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How to Combine Existing Attribution Measurements into an Omnichannel Attribution Model

Last updated: October 16, 2019

how-to-combine-existing-attribution-measurements-into-a-omnichannel-attribution-model

how-to-combine-existing-attribution-measurements-into-a-omnichannel-attribution-modelIt’s no secret that modern marketers need to do more. From providing the right cross-channel experience, to breaking through the noise of the 10,000 messages consumers receive daily, there’s no shortage of hurdles to overcome. One of the biggest challenges comes in the form of marketing measurement and the attribution models used to indicate the touchpoints driving consumer engagement

In the past, marketers could accurately optimize digital channels using traditional attribution measurements like multi-touch attribution. While these models provide accurate insights into individual channel performance, they do little to indicate how each channels fit into the larger marketing mix of online and offline media.

Consumers demand hyper-targeted, relevant engagements. Meeting these demands requires good, accurate marketing data. The most effective way to  generate this data, is by combining existing attribution strategies that measure individual channels into an omnichannel attribution strategy that provides clear insights into touchpoints across the marketing mix.

The Need for Omnichannel Attribution

Today, the average consumer interacts with about 13 different touchpoints before considering a purchase. Whether print, digital or broadcast channels, these touchpoints must work together to pique consumer interest and move leads down the funnel to conversion. Relying on siloed attribution measurements will not deliver insights into touchpoint performance other than the channel being measured. In other words, certain attributions models measure online touchpoints, others measure offline, but none measure both.

Omnichannel attribution is crucial, giving marketers granular, cohesive view of the various touchpoints across channels. It delivers marketing-critical understanding of how a touchpoint driving high consumer engagement on one channel influences the next channel along the customer journey.

Marketers can attain this holistic, omnichannel view by combining the attribution measurements conducted on individual channels into a granular, overarching attribution strategy. In doing so, marketers will understand the relationship between touchpoints across channels, allowing them to unify their efforts and generate greater ROI.

3 Steps to Combine Attribution Models

Marketers looking to combine their attribution measurements and gain the person-level insights needed to boost ROI can follow several steps for successful omnichannel marketing.

Identify the Attribution Models Needed for Each Channel

In order to shed light on opportunities for campaign optimization, marketers rely on a variety of attribution models to measure the impact of unique touchpoints found across online and offline channels. It’s important that marketers identify the insights they want to gather across their various channels, as well as the attribution models required to develop a true omnichannel strategy.

For example, if marketers want to understand which touchpoints turn consumers from viewers to leads, they may incorporate W-shaped attribution into their omnichannel strategy. Marketers looking to understand audience behavior along a given touchpoint may want to incorporate a linear attribution, which scales value equally across a channel’s consumer journey.

Use the Right Data Analytics Platform

Combining these attribution elements is a lot of work, especially because of the various models and strategies needed to attribute touchpoints across channels. That’s where an advanced marketing analytics platform capable of unifying these measurements can be a game-changer -- a platform that can formulate overarching models that account for the attribution efforts conducted across individual channels.

Additionally, the right platform must account for offline marketing measurements, while incorporating them into the omnichannel attribution models. Armed with these capabilities, marketers can accurately generate person-level attribution measurements across online and offline channels, resulting in clear insights into campaign optimization opportunities.

Artificial Intelligence Can Make Al the Difference

Today, engagements and customer interactions happen at such a fast pace that meeting customers in the moment is becoming increasingly difficult. With this in mind, artificial intelligence can be used alongside modern marketing analytics to quickly and efficiently identify opportunities for optimizations and pivot marketing efforts to capitalize in-campaign.

Artificial intelligence also provides marketers with a more efficient way to understand the impact of creative messaging in driving consumers to purchase. In essence, AI marketing serves as a  platform to quickly match the right creative to the right consumers, helping meet mounting demands for right place, right time marketing. By “feeding the machine” various creative messaging, a marketing analytics platform can determine which messages have the most value across the touchpoints that demonstrate the highest value.

Using Omnichannel Insights as a Foundation for Omnichannel Marketing Strategy

Once marketers have successfully combined  siloed attribution measurements into an omnichannel attribution model, they can use the insights generated as a foundation for a modern omnichannel marketing strategy. With a single-pane-of-glass view into the channels and touchpoints driving engagement, marketers can then optimize—aligning channels, touchpoints, timing and messaging toward better marketing impact.

Final Thoughts

Marketing ROI is hard to achieve without the right data. To generate the insights needed to drive effective marketing optimizations, it’s important that marketers steer away from siloed attribution measurements and instead combine efforts into an omnichannel attribution model. By identifying model types, leveraging the right analytics platform and deploying AI, marketers can quickly engage consumers on the right touchpoints, using the right channels and messaging, at the right time.

An omnichannel marketing strategy delivers insights that set up the marketing team — and the entire business — for a prosperous year ahead.

Written by Marketing Evolution