Marketing attribution is a popular topic these days, especially in light of marketing teams being chartered with increasing responsibilities for generating revenue. More than ever it’s critical to understand which marketing efforts are driving customer acquisition events, so as to optimize budgets for improved revenues.
What marketers want is a way to attribute form submissions, in-bound phone calls and other conversion points, directly to the advertising programs that influence each new customer to convert. Armed with such knowledge, it becomes clear what works and what not and how budgets can be optimized for getting the most for our dollars.
The need to connect the dots between broad-scale marketing programs and new customer acquisition is actually a top concern for all enterprise CMOs who must both justify marketing spend, do more with the same budget for less, and improve bottom-line profit.
The SaaS solution LeadsRx helps marketers increase top line revenue and reduce wasted ad spend by using advanced attribution techniques. LeadsRx comes to marketers’ rescue with its universal tracking pixel that promises to solve the attribution problem. Its system provides side-by-side performance comparisons of all marketing channels, both online and off, so that marketers can clearly see what’s going on. It is built on a sophisticated tracking database designed to efficiently store, retrieve, and analyze event and time-series data.
The system captures events throughout the lifetime customer journey using a universal tracking pixel for online activity and an API for offline events. Events are triggered when prospects visit web pages, participate in marketing campaigns, move through the sales funnel, and truly any other event as determined by the marketer. Collected data is then pre-aggregated and de-normalized into a data warehouse for fast reporting and for serving analytic insights.
At the core of LeadsRx is advanced attribution modeling that identifies which marketing programs are most often leading to conversions. As said, the system works with both digital marketing programs and traditional offline efforts like radio and television advertising, tradeshow lists, and even direct mail.
With the ability to apply different attribution models in real time, marketers can get deep insights into the customer journeys that are most important to them. But in addition, LeadsRx allows to:
- Perform marketing attribution for online and offline programs;
- Change attribution models in real-time for deeper analysis;
- See a Return On Ad Spend (ROAS) analysis by each marketing channel;
- Get a list of top sources of customer conversion events - including the paths seen most frequently;
- Review complete customer journeys to see each marketing touch point, all conversions and even device changes.
LeadsRx clearly helps marketers make decisions about the mix of advertising programs needed to drive revenue. With its focus on optimizing advertising spend across online and offline channels, LeadsRx is an invaluable tool for any marketing organization, since it can improve conversion rates, reduce customer acquisition costs and decrease time to convert, that way improving overall Return On Ad Spend (ROAS) and the bottom line.