The time has come. Marketing teams must start focusing on growth marketing attribution.
Even if your company is very traditional.
Even if you’re in B2B.
Even if you don’t sell anything online, ever.
Why? Because expectations for marketing have changed, and we must change with them. This is true across nearly all organization types.
Today, company leaders expect marketing to tie directly to revenue growth. They’re no longer willing to fund extensive marketing budgets just to drive brand awareness. There’s been a shift toward growth marketing, where marketers work at every stage of the sales funnel with a sole focus: growing revenue.
To make growth marketing work, it’s critical to understand and implement marketing attribution.
What is marketing attribution?
Every marketing plan includes a variety of channels and tactics. Marketing attribution is the process of understanding how each of those contribute to achieving your goals.
For instance, imagine a prospect saw your Facebook ad, met you at a tradeshow, visited your website, and subscribed to your blog. Later, that prospect becomes a profitable customer. Presumably, each of those touchpoints had value in bringing this new customer on board.
But how should you weight it? Should you invest in more Facebook ads, tradeshows or write more blog posts? In a perfect world, the answer might be all of the above. But, here in reality, most organizations need to make decisions. And, they need marketing attribution data to help them decide.
Marketing attribution is the practice of determining how to distribute “credit” among various touchpoints in the buyer’s journey. For more on understanding the buyer’s journey, visit page 16 of our Ultimate Growth Marketing Playbook.
eCommerce-focused companies have been doing this for a long time, but many B2B companies are just beginning down this path. The journey is well worth it. Done correctly, growth marketing attribution can help B2B companies focus and strengthen their marketing – ultimately increasing sales.
Need Our Help?
Our team of marketing professionals helps companies across a wide-range of industries solve their primary challenges, whether it be to grow revenue, avoid or recover from a crisis, succeed at change, or influence stakeholders.
We are your trusted partner for integrated marketing communications, digital marketing and corporate reputation strategy. To learn how marketing attribution can help you connect the dots between marketing and revenue, request a free consultation with Growth Marketing Strategist Ashlyn Brewer.