What you can learn from attribution reports is invaluable when it comes to making data-driven marketing decisions.
From channel-specific performance to the impact of various touch points, you can gain a deep understanding of your marketing efforts that you otherwise wouldn’t have access to.
Reporting forms a key part of how our solution works here at UniFida. After collecting and organising data from multiple sources, we then generate customisable attribution reports that offer a comprehensive view of the key metrics you want to see.
But what exactly can you learn from these reports? Let’s dive into the key insights attribution reports offer and how they can inform your marketing strategy for success.
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What are Marketing Attribution Reports?
First and foremost, attribution reports provide a summary of how each marketing channel and individual campaign contributes to conversions or sales.
UniFida’s reports – for example – are accessible through our Customer Data Platform (CPD), with near real-time data neatly displayed in digestible tables, graphics, and visuals.
Alongside the channel-specific performance data, attribution reports can also offer a wealth of information on other key metrics, such as customer acquisition and retention, return on investment (ROI), and campaign performance.
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What Can You Learn From Attribution Reports? Key Insights
As for the specific insights you can gain from attribution reports, these will vary depending on your business and marketing strategy.
Some businesses may be more concerned with measuring metrics like cost per acquisition (CPA) and customer lifetime value (CLV), while others may be more focused on understanding the impact of each touch point in their complex customer journeys.
Return on marketing investment (ROMI) is generally considered important by all, though, and is the front-driver of all marketing measurement and decision-making.
Here are some key insights you can learn from attribution reports:
Attribution reports provide a clear breakdown of how each marketing channel is performing in terms of conversions and sales. This can help you understand which channels are bringing in the most revenue and where you may need to allocate more resources for improved results.
Specifically, UniFida’s Marketing Attribution solution takes an omni-channel approach, tracking and attributing conversions across all online and offline channels, giving you a holistic view of your marketing efforts.
That way, your report will not only show the performance of individual channels, but also how they work together to drive conversions.
Read More: How Can You Measure Offline Marketing Attribution?
2. Impact of Touchpoints on the Full Customer Journey
In addition to channel performance, attribution reports also offer insights into the impact of individual touch points within a customer’s journey. You can understand which interactions are most influential in converting customers and where you may need to focus your efforts for maximum effectiveness.
For example, you may find that social media ads have a high conversion rate and are effective in driving sales, while email marketing has a lower conversion rate but plays a significant role in nurturing leads to make a purchase.
This information can inform your future marketing strategy and budget allocation.
3. Marketing ROI
Return on investment (ROI) is a crucial metric for any business, and attribution reports provide valuable insights into the return you are getting from each marketing channel.
With our reporting, we calculate your ROMI by channel, providing you with a granular breakdown of how each channel is contributing to your overall marketing success.
You can then use these insights to supplement your decision-making for future campaigns and identify where your resources are better (or better not) allocated.
Learn More: What is ROMI & How is It Measured?
4. Customer Acquisition & Retention
Attribution reports can also offer insights into customer metrics, such as acquisition, retention, and value.
It can help answer questions such as which channels are most effective at acquiring new customers and which ones have the highest customer retention rates.
This information can be crucial in targeting your marketing efforts towards your most profitable customer segments and identifying where you may need to improve in terms of retaining existing customers.
How Attribution Reports Can Help You Make Strategic Decisions
The purpose of attribution reporting really all boils down to giving you access to crucial data that can inform your marketing strategy and resource allocation.
Say you launch a campaign that’s targeting 29 to 35-year old females who are interested in protein food supplements. Attribution reports can help you identify which channels and touch points are most effective in reaching and converting this target audience.
Perhaps your Meta Ads are driving the most conversions, while your Google search ads have a lower conversion rate.
This information can guide your decision-making for future campaigns – for example, you may choose to invest more in Meta Ads and optimise your Google ads strategy to improve its effectiveness.
There are also offline channels to consider.
While attribution reports generated by digital marketing platforms often only track online touch points, UniFida’s omni-channel approach captures and attributes offline interactions as well (and indirect channels, too).
Consideration of every event in the customer journey and its influence on conversions is key to making informed strategic decisions for your marketing efforts. Attribution reports provide you with the necessary data and insights to do just that.
Case Study: Attribution Reporting in Action
We’ve supported numerous companies in utilising our attribution reporting to inform and improve their marketing strategy.
One such example is Wentworth Puzzles, a UK-based retailer of high-quality wooden jigsaw puzzles. They wanted to gain a better understanding of their global customer base to know where to focus their marketing efforts and budget.
With the help of UniFida’s CPD, we were able to provide Wentworth Puzzles with data on sales being made to different RFM customer groups, the value of long-term customers, and how they were best acquired.
We then went on to deliver customer journey-based marketing attribution, allowing Wentworth Puzzles to track the performance of marketing campaigns across all channels and touchpoints.
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This information proved invaluable for Wentworth Puzzles. Active customers grew from 39,000 to a great 158,000 after partnering with us and utilising our CPD and attribution reporting. |
Read the Full Wentworth Puzzles Case Study
Conclusion: Take Full Advantage of Attribution Reporting
The key takeaway here is that attribution reporting provides valuable insights into your marketing efforts, allowing you to make informed decisions for future campaigns and resource allocation.
With UniFida’s omni-channel approach, you can track and attribute conversions across all channels and touchpoints, giving you a holistic view of your marketing performance.
This, combined with our custom reporting, provides you with the necessary data to make strategic decisions for your business.
Don’t miss out on leveraging attribution reports for the success of your marketing efforts. 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.
