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Marketers have long pursued a goal that was once presumed unattainable: knowing with certainty what the impact is of any promotional or advertising spending. With the growth of digital marketing in the past two decades, marketers have better analytic data about clicks, views and other buyer behaviours that have a relationship to conversion. The problem, however, is not one of simply measuring clicks or views: it is understanding and measuring the entire journey of a buyer as they travel from initial awareness to conversion. Specifically, how many promotional milestones or touch points did the buyer encounter? How influential was each one? Marketers want to know, because precise information about the influence and effectiveness of each message, communication or ad allows unprecedented optimization of each marketing channel. Marketing attribution is the science of understanding the influence of each marketing channel on a buyer’s journey.
This How-To Guide will explain marketing attribution, review various marketing attribution models, discuss when it makes sense to use it, and conclude with an action plan for implementing marketing attribution.
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