We're all familiar with the concepts of first touch, last touch, and multi-touch attribution. These models have long been used to analyze and understand the impact of our marketing efforts. But the reality is, these models aren't as customer-centric as we would like to believe. Enter a game-changer in the world of B2B SaaS marketing: journey-based attribution.
Falkon, a pioneer in this new approach, focuses on two key principles: a holistic view of customer interactions and data-driven attribution weightage.
1. Holistic View of Customer Interactions
Traditional models tend to focus solely on marketing touch-points, overlooking interactions that happen across other channels such as sales, sales development, and account management. This is where journey-based attribution breaks away. It embraces a customer-centric view, considering every single touchpoint a prospective customer has with your company, regardless of the team involved.
2. Data-Driven Attribution Weightage
In classic attribution models, we assign credits to different touch-points based on arbitrary rules – giving half the credit to the first touch and the other half to the last, for instance. But in reality, our customers don't see their interactions with us in this light.
Journey-based attribution utilizes the power of data to infer the weightage of each engagement. For example, if data shows that prospects attending an event are more likely to engage with the sales team and eventually become customers, that event gets assigned a higher weight in the attribution model, despite the prospect only attending one webinar. Conversely, if data suggests no strong correlation between marketing emails and prospects converting to customers, then emails get assigned a lower weight.
In essence, journey-based attribution gives us a more accurate understanding of the tactics across sales and marketing that genuinely drive prospective customers to become real customers.
The shift to journey-based attribution is not just a trend, but a revolution in B2B SaaS marketing. It's time we rethink our strategies and adopt a more data-driven, customer-centric approach to truly understand our customers' journeys. To learn more about this innovative approach, explore Falkon - the forerunner in journey-based attribution.