Many pieces of great digital marketing practices fly under the radar.
“Making it all happen,” so to speak, doesn’t only come from flashy campaigns or catchy copy. To understand how and why marketing drives conversion, practitioners must delve into the root cause influencing customer action.
Attribution software does just that, and now, on G2, there’s a better way to determine which type of attribution solution is the right fit for business needs.
Attribution for beginners
If you’re new to attribution—it’s essentially the layman's term for a type of marketing analytics. Think about the tactics in the marketing process that were used to contribute to either the conversion of a campaign or a sale.
Companies use marketing attribution software to assign a value to each contributing factor that influences the success of a sale based on its impact on the customer or prospect during their interactions with the company.
Marketing attribution software acts as a central hub that pulls data from other marketing and software tools. As a result, it seamlessly integrates with software solutions used by sales, marketing, or public relations tools.
Attribution use cases and types
Within the attribution landscape, there are a few ways that attribution can occur. The larger focus area is often referred to as revenue attribution, where the attribution software examines the marketing touchpoints a customer goes through before purchasing a product.
The more familiar models are known as single-source and multi-source (also called single or multi-touch). The single-source approach is just like it sounds, it uses one touchpoint (or a channel) to measure the attribution.
On the other hand, multi-source incorporates a variety of channels, which can also be much more reliable over time. Its use cases go beyond revenue modeling to tracking campaign success, ad spending, and identifying what content works best.
Tip: Single and multi-touch aren't the only types of attribution that exist. There's also custom, linear, and last touch.
Why is it important to distinguish attribution solution types?
In 2024, simplicity is the name of the game. Buyers want to tailor a solution to their needs without compromising price or functionality. Enter solution types—the quick differentiator to better prepare for purchasing.
Solutions in this category are differentiated based on the type of platform that performs said attribution. There are all-in-one platforms with attribution capabilities and marketing features, such as customer relationship management (CRM) or marketing automation.
Alternatively, there are standalone products that exclusively offer attribution tools and offer limited to no other functionality.
Businesses often already have a variety of software they use within their martech stack, and attribution functionality is usually included. This is why the all-in-one attribute has significantly more products than the standalone solution.
Standalone products would be a great option if a martech stack doesn’t include an attribution option or you're just getting started with understanding how your marketing or sales journeys impact your business.
Regardless of which solution you choose, attribution software is a vital part of any martech strategy and a key contributor to campaign success.
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Edited by Monishka Agrawal
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