Marketing attribution is the process by which a company can determine how much of their success (or lack thereof) can be attributed to their marketing activities. Marketing attribution is important because it empowers businesses to gain a clear picture of what’s working and what isn’t insofar as their marketing efforts are concerned—so as you might suspect, accurate marketing attribution is a primary goal of Sustainable Marketing®.
Sustainable Marketing Glossary
A marketing attribution model is the method by which a business or organization tracks lead generation across any number of different advertising campaigns and customer touch points. A touch point (or contact point) is considered any influential encounter between consumers and a business where some form of exchange or interaction takes place, whether that’s communication, the sharing of information, a consultation, etc. As a whole, touch points make up the overall customer experience.
Marketing automation is something of a blanket term denoting any process, tool, or service used to remove the necessity of human intervention within a marketing endeavor.
A marketing dashboard is a centralized report that includes information from multiple sources like website analytics, CRM software, and accounting programs. The purpose of a marketing dashboard is to help business owners and marketing teams evaluate and understand how well their strategies and tactics are working.
Marketing goals are an important benchmarking tool for businesses and marketers to use to measure success. More than vague ambitions, explicitly set marketing goals should rely on hard data and measurable results. Digital marketers have many tools at their disposal to measure the progress and performance of website traffic, marketing KPIs, lead generation strategies, conversion rates, and much more.
Marketing key performance indicators (KPIs) are measurable statistics and data that represent progress toward a marketing goal. For example, a common online marketing KPI might be the amount of search traffic a website receives or how well the site is ranking for one or more targeted keywords. Similarly, KPIs that track lead generation opportunities such as the total number of subscribers for an email marketing list are also important, traceable metrics that usually share a direct correlation with the attainment of marketing goals.
When you have a lead that needs your products and services, they are a marketing opportunity. It is then up to sales to determine if a marketing opportunity has the budget and authority to buy.
A marketing plan is the primary document used by a business to outline their advertising strategies. Usually, it covers plans for outreach, advertising channels, and how they plan to generate leads within a target market.
A lead shows interest in a company by sharing their contact information. In order for them to become a marketing qualified lead (MQL), they must meet specific criteria.
Market segmentation is the practice of dividing the target audience of a business down into different groups based on differing attributes. Segmentation is done so that a business can more accurately personalize marketing to a different group based on their unique characteristics which may not be shared with the entire target audience as a whole.
A marketing stack refers to the different groups, defined by layers, of technology used by a business to manage their marketing activities.
Multi-touch attribution is a kind of marketing attribution that seeks to credit lead generation across multiple campaigns.
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