Choose a marketing attribution tool
Given the market is worth $3.1 billion, you won’t be surprised to learn there are plenty of tools to choose from. But choose carefully. The tool you pick can significantly impact your success with attribution modelling.
Take Google Analytics, for instance. While GA4 offers several marketing attribution models for free, including linear attribution, it lacks accuracy due to cookie consent rejection and data sampling.
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Accurate marketing attribution is included as a feature in Matomo Cloud and is available as a plugin for Matomo On-Premise users. We support a full range of attribution models that use 100% accurate data because we don’t use data sampling, and cookie consent isn’t an issue (with the exception of Germany and the UK). That means you can trust our insights.
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Matomo’s marketing attribution is available out of the box, and we also provide access to raw data, allowing you to develop your custom attribution model.
Collect data
The quality of your marketing attribution also depends on the quality and quantity of your data. It’s why you need to avoid a platform that uses data sampling.
This should include:
- General data from your analytics platform, like pages visited and forms filled
- Goals and conversions, which we’ll discuss in more detail in the next step
- Campaign tracking data so you can monitor the behaviour of traffic from different referral channels
- Behavioural data from features like Heatmaps or Session Recordings
Set up goals and conversions
You can’t assign conversion values to customer journey touchpoints if you don’t have conversion goals in place. That’s why the next step of the process is to set up conversion tracking in your web analytics platform.
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Depending on your type of business and the product you sell, conversions could take one of the following forms:
- A product purchase
- Signing up for a webinar
- Downloading an ebook
- Filling in a form
- Starting a free trial
Setting up these kinds of goals is easy if you use Matomo.
Just head to the Goals section of the dashboard, click Manage Goals and then click the green Add A New Goal button.
Fill in the screen below, and add a Goal Revenue at the bottom of the page. Doing so will mean Matomo can automatically calculate the value of each touchpoint when using your attribution model.
Source: https://t-tees.com
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