Do you have a way to measure your current sales and conversions when it comes to your marketing tactics? Referred to as marketing attribution, it’s important to have a handle on what your marketing and sales analytics.
Without this understanding, it’s impossible to tell how well you’re doing on your marketing and where you need to improve.
We’re going to take a look at the best practices to help you with print marketing analysis today.
Marketing Attribution Models and Tips
Analyzing your marketing to see how well your sales convert means looking at how and when consumers interact with your brand. This is a process of analyzing specific detailed data about these interactions to determine when and where the process needs to change.
There are two different types of marketing attribution models including single-touch and multi-touch models. The single-touch model is used less today as it doesn’t provide information on the granular level marketers need to analyze data.
Say you’re sending out a direct mail marketing campaign. If a customer converts on the very last piece of collateral in a nine-piece campaign, the single-touch model says touch nine was the converting factor. It doesn’t take into consideration the eight other touches along the way.
While this model still works, it’s a less effective way of measuring conversions.
The multi-touch model is a more comprehensive way to analyze your marketing data because it takes into account factors across a campaign. It looks at how many touchpoints you’ve had with a consumer along the way, what messaging type you were using, which messages were most effective, and any external factors.
When given the choice, using the multi-touch model over the single-touch model is always the best practice.
Best Practices for Attribution
The only way to get all of the data you need for analytics is to ensure everyone is on the same team. Getting buy-in from all your company’s players is important. This way, all members share data with each other, making the analysis more accurate.
The same goes for the team who is analyzing the data. Do they work in-house or are you hiring out? It’s best practice to have someone in your payroll that analyzes data. They have the best interest of the company in mind, are aware of the campaign’s purpose, and know the major players.
Think About Your People
When it comes to building campaigns, keep your customers in front of mind. Creating varying ways to reach your customers, in ways they communicate, will increase your chance of conversion. The only way to do this? Know your customer. Have customer personas ready for reference.
Metrics That Measure Results
The only way to truly perform marketing attribution in an effective way is to verify your metrics measure the results you want. Measure touch points, relevancy of messages, outside factors, and responses from customers.
It’s important for you to know what message a customer responded to so you follow up later in a relevant way. Want to learn specific tactics to improve your marketing mix and attribution? Check out our conference now.