Marketing attribution is something that all business owners need to know about. Why? Because it’s what tells you where your customers are coming from, which marketing methods are working for you, and which aren’t.
With more a more marketing channels continually opening up, marketing attribution is becoming more and more complicated. There are so many avenues to explore when it comes to marketing your business, and you can lose some major money if you aren’t utilizing the right marketing mediums. How can you avoid missing out on big money for your business? By mastering the art of marketing attribution: knowing where your money is going, where your money is coming from, and what is benefiting you the most.
Here’s what you need to know:
Much of Your Marketing can be Free
Are you already utilizing Google, Facebook, Twitter, Yelp and Instagram for your business? Those are great places to start and they don’t hurt because they’re free! What could be better than free marketing? On top of that, they are among the most popular channels for people to use when searching for a business like yours.
Once you realize that so much of your marketing and exposure can be completely free, your opinion of marketing attribution will, probably, change. It’s a lot less scary when you don’t have to put so much money on the line and have so much to lose! If your business isn’t already listed on all of the channels written above, that should be your first step. Some of them even provide an overview for free of your analytics, so you can see right then and there how well they’re working for you.
Test, Test and then Test Again
As with everything else in marketing, nothing replaces testing. The goal of attribution is to assess the value of each marketing touchpoint so you can spend your hard-earned money more effectively. But that doesn’t inherently increase the value of those mediums, and that’s on you to figure out. Just because you’re spending a bunch of money somewhere, doesn’t mean it’s effective to your business. Likewise, just because something is free doesn’t make it any less valuable to your business’ success.
No matter what you are or aren’t spending, the only way to know for sure what’s working is to test, test and then test again. You should be writing a variety of content and using different marketing tactics to get people engaged with that content. You should be visible on every platform you can, and checking in regularly to see where you’re gaining the most exposure. If something isn’t working, don’t give up just yet. First, try testing out a different approach, like different content, images or messaging. Once you determine that something isn’t working, you can quit wasting your time and money on it, and put your efforts toward something that is. That’s the beauty of marketing attribution.
Remember – Nobody’s Perfect
Don’t let yourself get frustrated and burnt out when you find that some of your marketing strategies might not be working. Instead, be glad to know that you can stop focusing there and move on to the next. It’s important to remember that all businesses- no matter how big or small- go through trial and error over and over when it comes to their marketing approaches. The only way to effectively market is by doing so, so don’t let yourself become upset over something that isn’t working.
Remember that even Apple, Nike and Wal-Mart have had to test out their marketing strategies, and they’ve had their fair share of failures. Use all of your knowledge that you gain through studying marketing attribution to benefit your business and bring more value to your marketing efforts!
Now that you know a bit more about marketing attribution, don’t hold back! Put your knowledge to work and watch your business grow. Of course, if you don’t have time to sift through all the numbers, remember that FreshLime is the pro when it comes to marketing attribution, and has easy-to-use, automated software that will guide you in the right direction every time!
For more insights on marketing strategy that actually works for small business, subscribe to the FreshLime Newsletter here. Connect with Jay Bean, Founder of FreshLime and Small Business Marketing Expert on LinkedIn and Twitter. And last of all, if any of these tips have helped you or if you have anything to add please comment below. We’d love to hear from you!