Digital marketers often find themselves utilizing all sorts of marketing techniques available to them in order to increase clicks, visits, and conversions. However, the more they try new channels, the more convoluted the performance reports become. At times, it becomes hard to clearly understand the complex customer journey or path to purchase and accurately point out which engagement tactics, messages, or touch-points drove maximum conversions. It is also important to study that out of those conversions, which channels resulted in the most high-value customers.
Every year, we observe that the marketing budgets are consistently soaring and cost per acquisition is rising across channels. With the increasing complexity of the digital world which is getting amalgamated with the offline world, the task is becoming a huge challenge for digital marketers. To know which channel works for their specific requirements and how the marketing budget should be allocated, they must consider channel attribution analysis.