2017-03-08 00:00:00SalesEnglishUncover the meaning of attribution, how an attribution model can help increase your sales, and how a few common attribution models are...https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/06/Confident-Businesspeople-Explaining-Attribution-Listener.jpghttps://quickbooks.intuit.com/ca/resources/sales/what-is-attribution/What Is Attribution?

What Is Attribution?

1 min read

As a small business owner, you want to know what makes your customers buy the goods they do and make the decisions they make. This study of human behaviour within a business setting is referred to as attribution. Attribution is used in marketing to represent the process you take to identify the events that make your customers act in a certain way. When looking at the events that make your customers buy your products, you can assemble the events in an attribution model. Each of these events within a model are given a value so you can know which events are most important when working with customers. In a first-click attribution model, the entire reason customers act the way they do is because of the first marketing exposure they had to your good. A last-touch attribution model states that the reason your customers act the way they do is because of the last marketing exposure they had to your good. A multi-touch attribution model is an advanced technique that assigns different values to different events a customer may experience. You want to know the events that define your users’ actions because this drives your sales. You will be able to deploy marketing strategies more effectively by knowing what impacts your customers the most. If you use digital advertising, attribution modeling lets you know what types of advertisements are most effective and when your customers should be exposed to the advertisements. This may include your positioning of advertising, use of keywords, and timing of advertising distribution through email. You can discover what items have the most impact on driving sales with an attribution model. By using this information, you save time preparing marketing materials and develop stronger connections with your customers.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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