How to roll out attribution with multiple funnels for B2B
This can be a daunting task, but here are the steps we use to deploy a multi-sensory attribution model.
Define Models and Key Performance Indicators
Choose the attribution models that work best for your organization. Consider sales cycle length, campaign types, and the level of detail required. Then define key metrics to measure success or failure.
Invite the crew on board
Your internal team may need to bring in external marketing analysts and strategists to do this job. Internal finance and creative teams also need to understand how data will drive campaigns in the future.
- Gather data. Who visits your site, how did they get there, and did they convert?
- APIs can be integrated into your CRM system, external ad providers and third party software that have unique ways to identify your users.
- Combine data. To turn this raw data into actionable information, you need a place to store it, such as a central secure data store.
- Visualize the data. It is important to convert this data into graphs and charts that are easier for non-analyst stakeholders to understand. There are many vendors available that can do this for you.
- Invest in analytics software. If your attribution models are complex, your best bet is to use analytics software that is advanced enough to work with your models. This will standardize and correlate ranges of raw data into reports that offer valuable insights. Ideally, this should highlight consumer motivation such as strong brand equity, compelling ad creatives, etc.
- Apply ideas and remodeling. Once you have collected and cleaned up the data, use it to try and predict what might happen based on past observations. These ideas can be immediately converted into campaign improvements.
- Optimize and test. Tracking and testing is never done. Adopt a culture of constantly evaluating your MTA data and testing campaigns to improve results.
- A/B Testing: Tools like Google Optimize, Optimizely, or your strategic marketing partner make it easy to modify campaigns to see what your audience prefers.
- Server Testing: The rise in popularity of channels like SEO when other methods don’t work.
- Geo-Experiments: For channels that can’t be tested with A/B (like TV), it’s useful to split campaigns by geographic region to see the impact of marketing on sales.
- Deprivation testing: To put it simply, turn your ad off and on again to see its impact on sales and conversions.
Is MTA the same as multi-channel attribution?
It’s simple – no. Multi-channel attribution spreads credit across channels (social ads, paid search, organic SEO, etc.). It does not take into account specific touchpoints, messages, or sequences.
While multisensory attribution does take into account the channel, it is more granular as it zooms in on each ad, their creatives, messages, interaction sequence, etc.
How do we know if we need multisensory attribution?
MTA is best applied to campaigns that are based on digital spending and that need to link a person to a specific marketing event.
This could be email or paid online advertising that spans multiple channels and devices.
If your campaigns require this level of understanding, then the MTA is for you.