Fix 75% of your attribution problems
Two simple tactics to make your attribution more effective
Hey there,
We all know that revenue attribution is a pain for B2B revenue and marketing leaders. We have written a complete article on the topic where we discuss the Mized Attribution Model in detail. Check it out here. The article dives deep into the model and how to effectively implement it.
[Make sure to read the article for a complete context and know-how on B2B revenue attribution].
But the thing is, some of you might find it a bit complex to put such a sophisticated model into practice.
So, what’s the SOLUTION?
It is to go for a more simplified approach that will solve a vast majority of your attribution problems.
This involves two steps:
Using the right UTM parameters
Adding an additional field to your website and lead gen forms
The first method is familiar to most of us. UTM parameters are used to understand the sources of traffic and conversion on your website. If you noticed, we used a UTM link to the revenue attribution article earlier in this content.
Here are a few best practices to follow while adding UTM parameters to your links:
Choose the right source, medium, and campaign name so that you can club the sources under relevant categories.
Be consistent in your nomenclature to ensure you group traffic from similar sources under the same category. The best way to go about it is to create an SOP (Standard Operating Procedure) document around it and follow it religiously.
If you have multiple variants within the same campaign, don’t hesitate to use the campaign term and campaign content parameters to differentiate between them.
Now let’s come to the second tactic.
It is about adding a field ‘How did you hear about us?’ on your website form. Make it a mandatory open field. This will ensure that you get an entry for every form filled and you are not forcing the user to choose from a set of options based on how you think your users get to know about you.
By combining these two methods, you will get accurate attribution data for most of the leads generated on your website, irrespective of the traffic source.
The next step is to use this data to double down on channels that work the best for you and improve your efforts on those that are not generating enough ROI.
For example, if you find that organic is the highest lead generating channel, you can be confident about investing more resources into it. On the other hand, if you find that Google ads are not contributing enough, you can go back to the drawing board and refine your strategy on the platform.
Sounds simple, but takes expertise and consistent efforts to make it work. Try these, and see your marketing ROI shoot up.
That’s it for the week.
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As always, until we meet next time, keep growing!