Being an Account Lead doesn’t mean you’re only responsible for day-to-day client communication. It means leading your client through a successful campaign by using your creativity, organizational and communication skills while using your marketing foundational knowledge to deliver value. You’re not only providing the client services but also the clients strategies.
With different channels of digital marketing all aiming to drive traffic and, ultimately, conversions, how does one decide which channel truly deserves the credit for a conversion; to attribute or not to attribute, that is the question.
There are about 6 default attribution models that can be utilized to determine how credit for conversions can be attributed to touchpoints in conversion paths.
Let’s take a minor, formal and informal look at the 6 attribution models available in Analytics:
Last interaction model:
The last channel that the customer interacts with before converting will be attributed 100% of the conversion value.
Let’s ignore the beginning, middle, and close-to-end channels of the conversion path, and let’s give ALL the credit to that final channel that basically just reaped the benefits of the other channels’ hard work.
Last Non-Direct Click model:
Direct traffic is ignored and the final channel that was clicked through by the consumer, before converting, will be attributed 100% of the conversion value.
Direct traffic is consumers who have been obtained by a different channel, so let’s act like direct traffic doesn’t exist and attribute 100% of the conversion value to the most recent channel, prior to the direct traffic channel. Again, ignoring the efforts of the beginning channels in the conversion path.
Last AdWords Click model:
100% of the conversion value is attributed to the most recent AdWords ad click before a conversion was attained.
Nothing else matters but the most recent AdWords click before converting, end of story!
First Interaction model:
100% of the conversion value will be attributed to the first channel of consumer interaction.
Let’s reverse the Last Interaction model’s concept and ignore the middle and end channels of the conversion path, and let’s give ALL the credit to that first initial channel that basically just reaped the benefits of the latter channels’ hard work.
The conversion value is equally divided amongst all touchpoints in the conversion path.
The conversion path was a true team effort and let’s give everyone equal credit for that final conversion.
Time Decay model:
Exponential decay is the foundational concept behind this model. With a default half-life of 7 days, any touchpoints that occurred 7 days before a conversion will be attributed ½ the credit of a touchpoint that befell on the same day as the conversion. The exponential decay concept continues as far back as your lookback window allows.
We won’t completely ignore the efforts of the channels in the early and middle stages of the conversion path, but the closer the touchpoint is to the actual time of conversion, the higher the % of the conversion value that will be credited to that channel.
Position Based model:
A fusion of the First and Last Interaction models that divides credit between the first and last interactions in the conversion path, with the middle interactions getting a small percentage of the credit.
The initial and final touchpoints are the roots to this conversion, so let’s split a high percentage of the credit between these 2, and divide minimal credit to the middle interactions.
For more insight as to how to attribute the value of your conversions, sign up for a free digital marketing audit by clicking here or the button below:
So you recently implemented inbound marketing at your company. Welcome!
My fellow inbound marketers and I are excited that you’ve taken the plunge after what I know to be an extensive research process.
I’m pretty sure that while you were doing that research and deciding if inbound was the solution to your lead flow problems, one intense (and relatively daunting) term kept popping up.
Marketing automation (MA).
One dive into this world probably rendered you speechless with all the software companies vying for attention, demos, and not to mention what could possibly be a substantial financial investment.
You probably looked at MA and said “forget it, we can get by without it.”
But if you’re serious about your inbound marketing endeavors, marketing automation is going to be what makes or breaks your campaigns.
Think about your inbound marketing efforts as a car (typical, I know, but stay with me).
If content is the fuel and strategy is the engine, then marketing automation software is the axel.
And I know some of you are like “axel, wtf?”
But an axel connects the wheels and holds the weight of the car. Also importantly, it transfers engine power and torque from the transmission to actually make the wheels (and thus the entire car) move.
Marketing automation connects your assets and uses the energy from your content and the power of your strategy to make your inbound marketing efforts move.
Wow. Pretty insightful, right?
But if you still need convincing about whether to invest in marketing automation, check out the 5 telltale signs below.
You need marketing automation if:
1. You’re a small team responsible for all of your marketing efforts.
Inbound is a huge undertaking – don’t let anyone tell you differently.
Having a small team in charge of email marketing, creating landing pages, workflows, lead segmentation, content creation, and social media distribution usually presents a task list too robust to keep track of – especially if you’re just starting.
You need something that will streamline your content, strategy, and assets and make your campaign launch and analysis as effortless as possible.
2. You have an untapped database.
So you already have a database but you don’t know how to put it to good use. You need to start by segmenting your database by personas and marketing automation software is a great way to get started.
Don’t have enough data on your leads yet? No worries, sending your database content they’re interested in and enticing them to fill out your forms is a great way to capture that important info.
3. You’re in serious need of sales-marketing alignment.
This is a problem most companies have.
If your sales and marketing teams are not aligned on what defines an MQL or SQL (marketing qualified lead and sales qualified lead, respectively), you’re never going to provide each other the necessary info to be successful.
This is where lead nurturing and automated workflows come in.
Agree on your MQLs and SQLs and enroll your leads into workflows. Once they engage with you enough, you’ll be able to determine what leads to hand off to sales and what leads to nurture more.
4. You have a high price point and a long path to purchase.
If your B2B solution has a high price ticket, like $350K, chances are it’s going to take a while to generate the qualified leads you need to adequately fill your funnel.
This is because large B2B purchases generally require consideration from a buying decision team comprised of various internal stakeholders whom all have different needs.
Marketing automation can be the perfect solution for this through its lead nurturing capabilities but remember: inbound marketing is a marathon, not a sprint.
5. You’re experiencing a marketing tool overload.
Do you have 8 different tools to provide all of the functions for your inbound marketing efforts? Well, marketing automation can help you decrease that by rolling a number of functionalities into one.
Think of it as a marketing one-stop-shop.
I hope this piece compels you to consider making marketing automation the axel to your inbound marketing efforts.
Experiencing any challenges while trying to adopt marketing automation at your company? Be sure to leave them in the comments below so we can talk about them!
You’ve written great content, had professional photos taken, built a great website but still are not seeing the traffic you expected. This is how most of my conversations start when people find out I work in marketing. Most business owners are left scratching their head after investing so much money in to their website and having little to no ROI (Return On Investment).
If you’re like millions of Americans, including myself, you’ve had to deal with a difficult coworker, boss or employee at one time or another. It can be awkward and frustrating to tell someone you work with that you have an issue with them, but it’s necessary to hold people accountable to have a successful work environment.
Working for an agency means organizing and coordinating yourself for a fast paced environment with many moving pieces. Every day, we prioritize for multiple clients with similar wants, needs and expectations with separate deliverables but identical due dates. This requires our account managers to find ways to stay on the ball so we don’t drop it.
In 2006 sponsorships were introduced to our social media world with great resistance. If you can remember - we all believed social media should remain an advertisement-free network for consumers to communicate.
Trying to grow your paid search account can be frustrating. And, with the AdWords landscape always changing, it is important to find ways to target a more qualified audience in order to generate more conversions.
With more and more businesses getting their foot in the social media door, the importance of self-regulation and protection of your brand is also increasing. The Federal Trade Commission (FTC) regulates corporate social media the sa...
Have you recently purchased a vehicle from a dealership? What drove you to select the winning dealership? Maybe it was catchy radio spot or a letter in the mail offering a gift card for a test drive.
If you’re like me and find yourself pointing out all dogs on the street and wanting to pet them, following famous ones on Instagram, or joining Facebook groups to see pictures and videos, look no further. We’re introducing our Pinckney office dogs who grace our office floors on Puppy Friday and sharing some of their favorite things that make them the special pups they are. Get to know them!
What's an SLA? As the line between sales and marketing has continuously blurred over the past ten years, SLAs have become commonly used by organizations to align their sales and marketing departments around a similar g...
Digital marketing is all about implementing campaigns and tracking and refining them for the future. A huge aspect of this is making sure you have the right code on your website for user experience tracking, conversion tracking, analytics t...
Every once in a while at Pinckney Marketing we have #TakeoverThursday, where one of our very own co workers takes over our Instagram account to show what a day in our (work) life is like. My turn was in September and...it was harder than it...