Every CEO wants to see what's bringing in revenue. And, every marketer wants a way to prove their worth. So, you need attribution reporting. But what do all those different attribution models actually mean? Let's break it down here.
Well, according to HubSpot...
Marketing Attribution Reports pull all the relevant interactions from your buyers' journey together using pre-built models that can definitively answer which channels and content are helping you meet your marketing goals.
Basically, they are a way to quickly see what's working to drive contacts and revenue.
You can model the data in a number of different ways—each one helpful for different scenarios.
For revenue reports here's what is available in HubSpot:
This model gives all credit to the first interaction that led to a closed won deal.
This model gives all credit to the last interaction that led to a closed won deal.
This model looks at all interactions that led to a closed won deal. Then gives equal credit to each interaction.
This model gives 40% of credit to the first interaction and 40% to the interaction that created a contact. Then it gives the remaining 20% evenly across all interactions between the first interaction and contact creation.
This model gives 30% of credit to the first interaction, 30% to the interaction that created the contact, and 30% to the last interaction that created the deal. Then it gives the remaining 10% evenly across all interactions between first interaction and deal creation.
This model gives 22.5% of credit to the first interaction, 22.5% to the interaction that created the contact, 22.5% to the last interaction that created the deal, and 22.5% to the interaction that closed the deal. Then it gives the remaining 10% evenly across all other interactions.
This model gives more credit to the most recent interactions. The credit for interactions decays the longer it takes for a deal to become closed-won.
Attribution reporting is only helpful if you're actively publishing a lot of content and running a lot of ads.
If you're not doing that you're probably not generating much demand for your sales team to follow up on. You may be getting contacts in your database, but they're probably going cold and never turning into an actual sales opportunity.