Attribution is considered as one of the effective and useful digital marketing strategies. Many advertisers use this method to optimize their capacity to attract the attention of all people. The definition and purposes of
attribution vary in accordance to the different factors. Based from the study of the Google Analytics and Econsultancy, almost 72% of marketers believed that excellent attribution will lead for a better ROI. However, some people lack information about the potential of attribution to obtain a better ROI status. Lack of awareness to this topic is considered as the biggest hindrance why many people cannot use attribution to optimize ROI. Almost 40% of the people said that they do not know how to use attribution to optimize ROI.
To break lack of awareness about attribution, this article can help you obtain information how you can use attribution to maximize your ROI. Attribution is the practice of giving importance to the influence of media to the journey and mentality of many consumers.
Media definitely plays a vital role in the success of different industries around the world. It is also considered as the process of using media to influence many people. Through the use of attribution, you may have the opportunity to obtain your goal. In general, attribution can help many people increase the possibility that you can enhance the status of your ROI.
Myths about Attribution: Serve as a hindrance for you to attain success
Myths about attribution definitely can hindrance many people to attain life success. It is important that you obtain proper information about the importance of attribution so that you can use it properly to increase your ROI. Here are some of the myths about Attribution:
- Myth #1
Some people believe that attribution will bring negative impact to your revenue- The truth is, attribution will not cause negative impact to your revenue. It cannot cause some negative changes to your revenue. In fact attribution can help you improve your ROI and your revenue.
- Myth #2
If you use attribution your budget will split- The myth number 2 is totally untrue, attribution will not cause your budget to split.
How to Make Attribution Work for You?
Through the use of attribution, many advertisers will obtain the opportunity to use media to accomplish or get their goals and objectives. Attribution can help many people to increase ROI. If you use attribution properly, for sure, you can increase your ROI. Steps to use attribution properly are listed below:
- You need calculate channel budgets. Through doing this step, you can maximum your revenue- It is important that you estimate well the budget that you will use to each media channel.
- You need to determine the suitable attribution model that you can use to your channel- Your need to ensure that each channel will work well so that attribution can perform well.
- You need to repeat the previous steps every quarter- Now that you have attribution model and allocated budget for it, you just need to sit back and relax. You need to repeat the previous steps every quarter. For sure, you will notice that your ROI will increase.