Brand Awareness Marketing: What Is It and How Does It Work?
by Frankie Karrer
8 Min Read
8 Min Read
In the labyrinth of modern marketing, every interaction has the potential to be a significant moment of change. Uncovering the touchpoints with the most influence, however, demands precision and insight. The right marketing attribution model can help you decide where to allocate your efforts for maximum effectiveness. Consider lead conversion touch attribution, for example.
As you try to figure out how to credit your marketing success, you’ll come across different marketing attribution models. Not all models are created equal, however, and each applies different methodologies to determine the most effective touchpoints across your marketing mix.
Much like other models, the lead conversion touch attribution model focuses only on the specific touchpoints that contribute to the actual conversion of a lead into a customer. This multi-touch approach is rather complex compared to other multi-touch attribution models. It doesn’t just credit the first or last interaction a lead had before converting. It analyzes every exchange they had with your company and highlights the most impactful ones.
Lead conversion touch attribution provides a comprehensive view of the customer journey and the effectiveness of different touchpoints. The model consists of several steps:
For example, if you’re a B2B brand, you may identify three (for the sake of simplicity) important touchpoints across your mix: a whitepaper, a webinar, and a demo with a sales rep.
In our example above, this B2B brand may weight a demo as 50% of the credit, while attending a webinar is 30%, and downloading a whitepaper is 20%.
There are many benefits to identifying the specific touchpoints that play a decisive role in converting leads into customers. The most significant are:
Lead conversion touch attribution is not flawless. It may neglect pivotal touchpoints that indirectly contribute to a conversion. Other shortcomings of the model are:
Still unclear about how the lead conversion attribution model can help you gauge the impact of your actions across multiple channels? In each of these examples, the lead conversion touch attribution model provides a better understanding of interactions that drive conversions.
A customer discovers an e-commerce store through a Google search and clicks on a paid search ad. They then browse the website and add items to their cart but do not complete the purchase. Later, they receive an email with a discount code and complete the purchase. In this scenario, the lead conversion touch attribution model would pin the conversion on the paid search ad and the email with the discount code, giving more credit to these touchpoints because they each played a decisive role in the conversion.
A B2B company generates a lead through a LinkedIn ad. The lead then visits the company’s website and downloads a whitepaper. Subsequently, they attend a webinar and eventually become a customer. In this scenario, the lead conversion touch attribution model would attribute the conversion to the LinkedIn ad, the whitepaper download, and the webinar because they all contributed to the conversion.
A company creates a blog post that generates a lead through an organic search. A lead then subscribes to the company’s newsletter and eventually becomes a customer. In this scenario, the conversion is equally attributed to the organic search, the newsletter subscription, and the blog post. Social media or other touchpoints that the customer didn’t see or interact with didn’t impact the end result and don’t get any credit.
An email marketing campaign generates a lead who then visits the company’s website and downloads a free trial. Later, they become a paying customer. In this scenario, the lead conversion touch attribution model would credit the email marketing campaign for influencing the lead to become a customer. It would signal to the business that it either needs to keep up the good work with its email marketing campaigns or improve its efforts across other channels that are not contributing to the bottom line.
A social media ad generates a lead who then visits the company’s website and fills out a contact form. However, they don’t complete a purchase. In this scenario, there is no conversion, so no credit is attributed to any marketing action.
Attribution models are increasingly being used to measure the effectiveness of TV advertising campaigns. This has been driven by advancements in technology and the increasing importance of accurate attribution for advertisers.
Traditionally, TV advertising has been difficult to measure, with advertisers relying on viewership data to gauge the success of their campaigns. However, with the rise of Connected TV (CTV) and other digital solutions, it’s now possible to measure the impact of TV campaigns more accurately.
TV attribution allows, among other things, marketers to allocate resources more efficiently and improve the overall customer experience. As ad revenue for digital properties continues to grow, TV attribution is becoming increasingly important, helping ensure that TV advertising remains competitive and effective as a marketing channel.
To help make TV attribution more accurate, MNTN developed Verified Visits™, a model that relies on automated source validation and excluding credit for site traffic from other sources. This means all measurements come from a viewer’s interactions with a CTV ad and subsequent visits to the advertiser’s website, typically within a specified time frame.
The Verified Visits™ model is built on four key principles:
The lead conversion touch attribution model can be a valuable compass, helping professionals like you optimize their efforts and enhance the customer experience. However, although it brings efficiency gains and insights into customer behaviors, you should be mindful of lead conversion touch attribution’s potential to oversimplify the customer journey and give you inaccurate results.
Recognizing both the strengths and limitations of this model is key to adopting a balanced approach. As you navigate the ever-evolving marketing landscape, remember: Lead conversion touch attribution is a tool in your arsenal, not the entire battle plan.
Subscribe to the report Apple, Amazon, NBC and more use to get their CTV news.