Find the best Marketing Attribution Software
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Adobe Marketo Engage is as a centralized marketing hub for orchestration and execution of cross channel campaigns to acquire, engage, nurture, expand and retain customers, throughout complex buying journeys. Marketo Engage facilit...Read more about Marketo Engage
LeadsRx is a cloud-based marketing attribution and multi-touch attribution solution for mid to large-size enterprises. It allows companies to monitor and analyze their marketing efforts to see how they impact revenue. LeadsRx offe...Read more about LeadsRx
Roivenue is an all-in-one marketing platform that helps businesses track the return on investment (ROI) of marketing campaigns. The application allows marketers to allocate marketing budgets, conduct web analytics, and generate cu...Read more about ROIVENUE
Funnel is the leading marketing data hub designed to help marketing teams own their performance. With Funnel, marketers connect data from any marketing platform; store, organize, and share it with any visualization tool or data ...Read more about Funnel
When you spend thousands on advertising budgets, you need to be sure that every dollar is spent efficiently. TraceDock enables your marketing performance team to do just that. It is a first-party data collection software that reco...Read more about TraceDock
Dreamdata is a cloud-based platform for marketing and revenue attribution. The solution allows businesses to track and analyze how certain activities are impacting revenue, how individual channels are performing and what is drivin...Read more about Dreamdata
InfiniGrow helps B2B marketers align entire marketing activities around revenue goals. When customers join InfiniGrow, it unifies their marketing data, helps find gaps in their measurement, and offers insights into customer journe...Read more about InfiniGrow
SharpSpring Ads is a cloud-based campaign management software that facilitates implementation of retargeting advertising across web, mobile and social platforms. Designed for small to large businesses, the software comes with a cu...Read more about SharpSpring Ads
Revenue.io is a VoIP solution that helps sales teams by providing voice communication and an automated dialer. It is a cloud-based platform that bridges the gap between conversation intelligence and organizational telephony. Des...Read more about Revenue.io
TapClicks is a smart marketing cloud-based set of automated marketing solutions designed to work in unison, powered by your data. We make the complex world of marketing easy with everything a business needs to differentiate itself...Read more about TapClicks
DemandJump is a cloud-based solution that provides consumer insights and market intelligence to marketing teams of all sizes. This solution can be used to analyze competitor data, including organic search, paid ads, online traffic...Read more about DemandJump
Wrike is a cloud-based project management platform for teams of 20+ that is suitable for both large enterprises and SMBs. It supports remote work for various teams. This solution comes with Gantt charts, calendars, workload view f...Read more about Wrike
CAKE is a cloud-based affiliate marketing solution designed to help businesses in the performance marketing industry manage partner campaigns using custom targeting, whitelisting, reporting and data security tools. Key features in...Read more about CAKE
CallTrackingMetrics is a cloud-based call tracking and contact center solution for businesses and agencies that helps with tracking campaigns, reaching new audiences through integrated text marketing and online forms and using int...Read more about CallTrackingMetrics
twik is an award winning 5-years old startup that automatically detects all business goals in every website and page and assists in presenting the right product/service/message at the right time to each and every visitor (even com...Read more about Twik
Improvado is a marketing data aggregation tool to automate reporting. It is used by small and midsize businesses and can be hosted either in the cloud or on-premise. The solution allows users to connect multiple data sources to a ...Read more about Improvado
Terminus is an account-based software for efficient marketing and sales purposes that provides an end-to-end solution for prioritizing and identifying target accounts, activation of sales for targeted search, multi-channel engagem...Read more about Terminus
Hive9 is a marketing performance management solution that enables businesses to measure the impact of marketing plans and monitor budgets or revenue performance on a centralized platform. Professionals can use the color-coding fun...Read more about Hive9
Oribi is a cloud-based journey mapping solution that provides marketing agencies and eCommerce businesses with analytical tools to monitor visitors' behavior across various digital channels. Businesses can view key metrics, t...Read more about Oribi
Keen is a data-driven, predictive marketing analytics platform that measures and optimizes marketing's full financial contribution across all channels. Keen enables marketers to plan, optimize, and understand future investments by...Read more about Keen
Buyers GuideLast Updated: March 16, 2023
Customers interact with your brand through various channels and touch points—for example, your website, social media, phone calls, online inquiry forms, television commercials, radio ads, and digital marketing channels. But do you know which one of these contributes the most to your sales numbers?
That’s a tough question to answer because a sale or conversion usually involves customers interacting with your business via many of these touch points. Thus, it’s difficult to understand which marketing channel has the highest impact on a customer’s purchase decision and leads to the final sale.
Marketing attribution software assigns credit to customer touch points across marketing channels to determine their influence on conversions. It analyzes data such as customer views, clicks, and actions to determine the impact each touch point has on the final sale. The software commonly integrates with marketing automation, customer relationship management (CRM), e-commerce, and email marketing platforms to collect marketing and sales data across the customer lifecycle.
There are many marketing attribution tools available on the market, so choosing the right one for your business can be challenging. In this buyers guide, we provide all the information you need to make a well-informed purchase decision.
Here's what we'll cover:
What is marketing attribution software?
Marketing attribution software is a software tool that analyzes large volumes of customer behavior data to identify which touch points led to the sale of a product or service. It assigns credit to any channel or touch point that may have contributed to the conversion based on its influence on customer interactions.
Key functionality of a marketing attribution tool:
Track multiple marketing and communication touch points, and collect customer interaction data from them
Monitor the entire purchase journey of customers to identify how they got converted
Use reports and analytics to check which channels are bringing the highest number of customers
Common features of marketing attribution software
Evaluate the impact multiple marketing touch points have on driving a conversion. These touch points include online ads, campaigns, site search, and website visits.
Track all the unique touch points a customer engaged with, and evaluate their overall impact on the final conversion.
Customer journey mapping
Create a visual timeline of a customer’s interactions with your brand. This helps identify which channel drove the final sale.
Measure the impact of different marketing initiatives on your profit and revenue growth. This allows for proper marketing spend management and budget allocation.
Customize dashboards to track the performance of your marketing initiatives across channels. You can also view reports on total sales, conversion by attribution model, etc.
Determine and define how to assign credit, for a sale or conversion, to the various touch points in a customer’s purchase journey.
Track how well your marketing touch points are driving leads generation, sales conversion, app downloads, email sign-ups, and other key actions for your business.
Divide your target customers into various segments based on product usage trends, demographics, psychographics, communication behaviors, and media usage, among other factors.
Mobile app attribution
Measure the effectiveness of mobile marketing campaigns based on the number of app installs, in-app purchases, etc.
Analyze historical datasets to predict which marketing channels and touch points will yield maximum revenue in the future.
Marketing ROI tracking in HubSpot Marketing Hub (Source)
What type of buyer are you?
Understanding the different types of buyers in the market will help you identify your buyer type to make an informed purchase. The majority of buyers belong to the following categories:
Business-to-business (B2B) buyers: Buyers in this category cater solely to businesses and need software to analyze the impact of their marketing effort on revenue. Their sales cycle is often long, and it can take months to convert a customer, resulting in multiple touch points. They should opt for a tool with account-based attribution to group B2B customers into various accounts and track interaction data to understand which marketing activity is the most ROI-friendly for a particular account.
Business-to-customer (B2C) buyers: Buyers in this category cater to consumers and generally have a shorter sales cycle than B2B enterprises. They need a tool that can help them understand which marketing impressions are creating the strongest customer awareness and driving online interactions as well as in-store purchases. They should choose a fully featured marketing attribution solution to find different ways to optimize the customer experience.
Benefits and potential issues
Let’s take a look at the benefits as well as potential issues of using a marketing attribution tool:
Higher brand engagement: An attribution tool helps your marketing team track and identify channels customers are using the most to engage with your brand. You can discard the ineffective channels and focus more on building visibility through channels most frequented by customers. This will lead to better audience engagement and higher chances of conversion.
Better tracking of customer lifetime value: The software offers capabilities to help estimate how much value a buyer will bring to your business during their tenure as a paying customer. These insights help plan how much you should spend on retention for different customers. They also help differentiate one-off buyers from customers more likely to become repeat buyers.
Incorrect attribution tracking due to the use of multiple devices: In today’s digital world, customers have multiple devices via which they can research and evaluate products, connect with the sales team, and then make a purchase. And these actions can be done from any location—be it home, vacation, or work premises. But not all customer devices are supported by marketing attribution tools, which may result in incorrect attribution.
Challenges posed by data regulations: Strict data regulations can make it difficult for companies to track customer data. They have to get permission from customers to track the purchase journey, and some customers may not want to share their details. This can affect the insights generated by the attribution tool, given not all touch points would be considered for analysis.
Market trends to understand
Here’s a marketing attribution software market trend to keep in mind when making your purchase:
Growing demand for AI-enabled marketing attribution software. With a rise in the use of analytics and AI, marketing attribution software vendors are deploying AI at the core of their platforms to enable seamless data collection, analysis of touch points, instantaneous insights, and channel-specific recommendations. AI-enabled attribution platforms can help businesses identify whether there are any breakdowns or gaps in their marketing campaign.
Note: The application selected in this article is an example to show a feature in context and is not intended as an endorsement or recommendation. It has been obtained from sources believed to be reliable at the time of publication.