Holly Chessman, VP of Marketing here at Glance, was recently asked to weigh in on how to select the right marketing attribution model. Here is her answer:
Selecting the right marketing attribution model
There is no “right” marketing attribution model that fits every company’s needs. How you focus your efforts depends your ultimate goals. And not taking the time to understand your end goals is the biggest mistake you can make when choosing an attribution model.
Some factors to take into consideration when selecting a model (or combination of models) include:
Your audience personas – Who do you want to reach? Are your audience members tech savvy? Where do they reside online? What prompts them request a demo or make a purchase?
Your sales cycle – Are you a B2B vs B2C company? Are you aiming for a click-to-buy or will the sell require a longer cycle? How important is nurturing in your cycle? Do leads need to be warmed before they purchase or request a demo?
Your vertical focus – What is important to to your audience? Where do they need to see you in order for you to be credible?
Your budget – How much can you spend on your promotion efforts? How many leads do you need in order for your campaigns to be viable? Is it about volume or targeting?
Your team – Are you a big team or a small team? How many channels can you focus on and yet not stretch yourself to a point where you can’t handle them well?
A simplified example
My company, Glance Networks, sells online visual engagement solutions (like integrated cobrowse, screen share, one-way agent video, etc.). We are a B2B business that works with large enterprises. Many of them are tech savvy. All of them do a lot of business online and want to improve customer service.
As a B2B company, our sales aren’t generally completed on our website. There’s a longer cycle that often extends beyond online interactions. Business is generally closed with the Sales team.
Moreover, our marketing team isn’t huge, so we spend our efforts on a few channels that we can handle really well. While it’s important for us to understand every area that brings interest, we focus on the ones that bring in leads that are ready for a demo.
We use a mostly Linear marketing attribution model with some Position-based weighting.
Read what other marketing experts have to say
Ready to hear what the other experts interviewed for this article have to say? Check out the full article here: Marketing Attribution Model – 43 Experts Explain How to Choose The Right One (and Mistakes to Avoid).
About Glance Networks
Glance helps enterprise organizations create the ultimate customer experience with smart, omni-channel visual engagement solutions. We are one of the world’s simplest, most reliable and secure platforms that enable companies to see, show and share anything online, creating a frictionless path to great experiences in sales, support and customer service. The result is improved customer satisfaction and loyalty, increased revenue growth and operational savings. From financial services and healthcare to retail and travel and leisure, even the most advanced technology and SaaS organizations – we transform the customer experience for today’s business. Learn More »