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Mastering Lead Conversion Touch Attribution Tactics

Learn about lead conversion strategies and the best tactics you should master if you want to succeed with your marketing!

Understanding the nuances of different interactions and how they influence a customer’s decision to convert is paramount to the success of any brand. 

With that in mind, consider lead conversion touch attribution, which provides you with the insights needed to determine which touchpoints along the customer journey hold the most value and thus enable you to optimize your campaigns and improve your return on investment (ROI). 

What Is Lead Conversion Touch Attribution?

Lead conversion touch attribution is a multi-touch attribution model; instead of assigning 100% of the credit for a conversion to a single touchpoint, it is an approach that recognizes that the modern consumer’s journey is complex and multifaceted. 

Earlier multi-touch models typically either distributed credit equally across all touchpoints or emphasized the first and last interactions while assigning minuscule amounts of credit to mid-journey exchanges.

The lead conversion touch attribution framework, on the other hand, is far more complex; it analyzes every exchange a consumer has with your company and highlights which of those interactions went on to have the biggest impact. 

How Does It Work?

The lead conversion touch attribution model uses a multi-step process to understand and classify touchpoints. First and foremost, you must gather extensive data about all of the interactions that your leads have had with your brand across various channels, such as:

  • Websites
  • Social media
  • Connected TV (CTV) ads
  • Paid search ads
  • Offline interactions

From there, you’ll need to rate each touchpoint based on its perceived impact on the customer’s journey. You can base these scores on a wide range of variables, including things like:

  • The type of touchpoint (i.e., organic, paid, in-person)
  • Where the touchpoint occurred along the customer journey
  • Post-interaction behavior
  • A specific offer or piece of content

For instance, let’s say that one customer interacted with your brand across five different channels before making a purchase. In order, the touchpoints they interacted with are as follows:

  1. Seeing your CTV ad
  2. Following your brand on social media
  3. Browsing your product page
  4. Signing up for an email newsletter
  5. Receiving a digital coupon via email

In that chain of events, the CTV ad generated brand awareness, and the digital coupon prompted the customer to make a purchase. 

Under the lead conversion touch attribution model, you might view the digital coupon as the most important, assigning it 50% of the credit. Following that up, the CTV ad generated initial awareness, so it could earn 30% of the credit; the social media and product page interactions may earn 7.5% each, and the email newsletter would earn the last 5%. 

Advantages of the Lead Conversion Touch Attribution Framework

As the lead conversion touch attribution model recognizes that the consumer journey is too complex to be boiled down to just one touchpoint, it yields some major advantages over more simplistic models, such as:

Efficiency Improvements

Adopting a multi-touch model such as lead conversion can help you become more efficient with your ad spending and budgeting, which, in turn, will set the stage for a better ROI and enhanced customer experience. 

Better Understanding of Customer Behavior

The lead conversion touch attribution model also helps you understand how leads learn about your brand and what elicits a positive response from your target audience. That kind of information is incredibly valuable for adapting your marketing efforts and ensuring they align with the preferences of your core customer base. 

Campaign Optimization

Accurate lead attribution takes the guesswork out of running your marketing campaigns; instead of wondering which touchpoint had the biggest impact on customer behavior, you can pinpoint key channels using quantifiable data. Ultimately, these insights will enable you to shift away from ineffective channels and prioritize the most impactful mediums. 

Increased Sales

Lastly, lead conversion touch attribution demonstrates which channels are most effective at generating intrigue, nurturing leads, and earning conversions. Once you have these insights, you’ll be able to create an accelerated sales funnel that draws in more high-quality leads and is able to nurture them to the point of conversion. 

Take the Mystery Out of Conversion Attribution

Mastering lead conversion touch attribution is essential for optimizing your campaign and improving ROI. By embracing the multi-touch attribution model, leveraging advanced analytics, and focusing on continuous improvement, you can gain a clearer understanding of the customer journey and the impact of each touchpoint on conversions. 

Of course, changing your conversion model can be challenging, but it is a worthwhile endeavor, one that will yield significant and ongoing benefits for your customers, your sales team, and your bottom line. As the digital marketing landscape continues to evolve, the ability to accurately attribute lead conversions will provide you with a key competitive advantage.

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