Attribution Model & Email Marketing. Klivyo Example

?? What is Attribution and Why is it Important? ??

?? Whether you're a seasoned marketing professional, a solo entrepreneur managing your digital marketing efforts, or somewhere in between, you're likely wondering, "Are my digital marketing efforts working?" ?? To answer that question, you'll need to establish a good understanding of attribution and your customer journey.

?? Attribution is a reporting strategy that allows marketers to see how their marketing messages impact their conversion goals. To better understand attribution, it's important to understand how your customers interact with your brand. This brings us to the customer journey, which is the experience your customer has with your brand in a series of stages: Awareness, Consideration, Purchase, Retention, and Advocacy. This customer journey may look different for every customer and brand.

??? For example, a customer of a makeup brand might spot an ad for an inexpensive lipstick and move quickly from awareness to purchase, while another customer shopping for an expensive mattress will need more time to get to know your brand before deciding to buy. Regardless, along the journey, there are several key opportunities for you as a marketer to influence and engage your customers, guiding them towards the purchase and hopefully advocacy.

?? Attribution in the Customer Journey: There are a few different ways to track attribution:

1. First Touch ??? - Credits the first marketing interaction your customer experiences.
2. Last Touch ??? - Credits the last marketing interaction the customer engaged with.
3. Multi-Touch ?? - Looks at multiple marketing touchpoints along the journey, giving each a weighted attribution.

?? Klaviyo uses a last-click model with an attribution window. For example, let's say someone buys a product shortly after receiving an SMS from your brand. Attribution will only be applied to the SMS if the conversion takes place within the predetermined window. This gives you a helpful and accurate idea of what prompted your customers to convert.

? Attribution in Action: Klaivyo brings an example of Beantown Coffee that launched a new blend and sent an email to their customers to announce the launch. They also sent a text message to remind their SMS subscribers of the new blend the day after it goes live. Customer X, a big fan of Beantown's coffee, received both messages. Mr. X first opened the email and clicked the link to learn about the new product, but didn't buy it. The next day, he clicked on the link in the SMS and bought the new blend within the first hour of the text being sent. In this case, the success and the revenue generated were credited to the SMS. ????

?? Identify Default Attribution Windows:

• Email: 5 days ??
• SMS: 24 hours ??
• Mobile Push: 24 hours ??

?? Evaluate Factors that Impact Reporting:

• Your Customer’s Buying Journey ??♂?: Understand how their engagement over time impacts attribution.
• Seasonality of Your Business ??: Analyze annual customer engagement patterns and adjust your strategy accordingly.

? Regardless of where your customer may be in their journey with your brand, attribution is an incredibly helpful tool to measure the success of your marketing efforts and build a strong foundation for your reporting. By effectively using attribution, you can make data-driven decisions, optimize your marketing strategies, and ultimately drive better business results. ????

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