We don’t have to tell you that understanding your customers’ journeys is essential for driving conversions and increasing ROMI. But how can you accurately attribute those conversions to specific touchpoints? B2C marketing attribution is the solution to this problem.
It helps you identify which channels, campaigns, and touchpoints are driving the most conversions, allowing you to allocate your budget and resources strategically for maximum impact.
Both online and offline touchpoints play a crucial role in the customer journey, and an effective B2C marketing attribution model takes into account all of these interactions to provide a holistic view.
In this Article:
What is B2C Marketing Attribution?
While we’ve touched on it already, let’s dive deeper into what B2C marketing attribution really means.
Simply put, it is the process of identifying and giving credit to the various touchpoints that contribute to a conversion or sale in a B2C environment.
Direct and indirect interactions with your brand, such as clicking on an ad or browsing through a product page, are all taken into account to determine which touchpoints had the most significant impact on converting a lead into a customer.
Indirect interactions and macro factors like seasonality, economic trends, and customer behaviour are also considered in some more advanced models to provide a comprehensive understanding of the factors influencing conversions.
The B2C landscape is constantly evolving, and the way in which customers interact and engage with brands is continuously changing.
B2C marketing attribution makes it easier for you (or e-comm marketers) to keep track of these changes and adjust your strategies accordingly.
Budgets can be allocated and invested in those channels that are performing well, while underperforming channels can be improved or dropped altogether.
B2B vs B2C Marketing Attribution
The real difference between B2B and B2C marketing attribution lies in the complexity of the customer journey.
B2B journeys typically involve more touchpoints over a longer period, with multiple decision-makers involved in the process.
There’s likely to be someone in charge of the budget, or decision-maker, plus influencers and end-users in a B2B environment. Channels such as conferences, events, and account-based marketing may also play a more significant role.
On the other hand, B2C journeys are shorter and typically involve fewer touchpoints. In most cases, there is one decision-maker (the consumer), and the focus is on creating a seamless and convenient experience across all touchpoints.
B2C marketing attribution models, therefore, tend to be simpler.
What Are the Challenges of E-Commerce Attribution?
The B2C customer journey may very well be less complex than those of B2B, but that doesn’t make them any less challenging in their own right. Here are some of the common challenges faced by e-commerce businesses when it comes to attribution:
Challenges of E-Commerce Attribution:
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The Best Attribution Model for E-Commerce Businesses
But what is a problem without a solution? There are many types of attribution models that help e-commerce businesses overcome these challenges and gain a better understanding of their customer journey.
Generally, for e-commerce businesses, multi-touch attribution (or MTA) models are preferred.
Thinking back to our previous point on the varying channels involved in the customer journey, MTA models are designed to give credit to all touchpoints that contributed to a conversion rather than just the last interaction.
UniFida’s Data-Driven Omnichannel Attribution Solution
Here at UniFida, we firmly believe (and have seen from a first-hand perspective!) that a combination of models is needed to gain a comprehensive understanding of the customer journey and accurately attribute conversions.
Our omnichannel attribution solution blends MTA and MMM (econometrics) to provide a powerful and accurate view of the customer journey, using time-based data-driven algorithms to determine the impact of each touchpoint.
With data coming from all digital and offline channels, our solution provides an all-encompassing view of an e-commerce business’s customer journey and helps make informed decisions on budget allocation and marketing strategies.
Optimising Every Touchpoint in the Customer Journey
In a nutshell, the role of B2C marketing attribution is to provide you with insights to optimise your customers’ journeys. Taking action based on these insights is where the real value lies.
By understanding which touchpoints are most influential, you can optimise and enhance each stage of the customer journey for maximum conversions.
Every customer journey is different, but we can look broadly at the fundamental e-commerce customer journey:
- Awareness stage
- Consideration stage
- Purchase decision stage
- Post-purchase stage
Conclusion: Improve ROMI With E-Commerce Attribution
Getting your hands on accurate and actionable attribution data is crucial to the success of any e-commerce business.
A reliable and tailored attribution solution can help you better understand your customer journey and improve your return on marketing investment (ROMI).
That’s why we customise our omnichannel attribution solution to fit the unique needs of each of our clients. We know that there’s no one-size-fits-all approach to attribution, and we work closely with our clients to develop a solution that works best for them.
To learn more about our omnichannel attribution solution and how it can benefit your e-commerce business, get in touch with us today.
FAQs
Julian Berry is an accomplished marketing technology leader. Julian spent his early career working directly under renowned direct marketer Christian Brann. He then held senior marketing roles at NatWest and LTSB before establishing several successful consultancies. He founded UniFida in 2014, and pioneered multi-touch attribution platforms that help marketers measure and optimise marketing value across channels.
