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What’s the best attribution model for B2B marketers?

Dreamdata CMO, Steffen Hedebrandt assesses what the best attribution model is for B2B marketers.

Supplementary Guide

For additional context and examples, the video above is recommended.

Understanding attribution model complexity

Attribution models are crucial for understanding customer journeys, but their effectiveness depends on the completeness of your data. An attribution model based on incomplete data will likely lead to incorrect conclusions.

Comprehensive Data Collection

Before diving into attribution models, ensure you've captured as much of the customer journey as possible. This includes both digital interactions and harder-to-track activities like word-of-mouth or conference meetings. Without a broad dataset, any chosen attribution model may not fully represent the journey from prospect to customer.

Steps for choosing the right attribution model in Dreamdata:

Step 1: Consolidate your data

  • Begin by gathering all customer interaction data from various platforms into a single, go-to-market data warehouse.

  • Dreamdata automates this, organizing data into an account-based timeline showcasing every touchpoint.

Step 2: Analyze a specific customer journey

  • Review the journey of an account that has recently converted.

  • Dreamdata allows you to shift perspectives between stages like MQL, SQL, and New Business to see how ad spend and marketing efforts contribute at different journey points.

Step 3: Decide on which stage you’re interested in

  • Define which parts of the customer journey are most crucial for your analysis. Is it first touch to MQL? Or first touch to closed-won?

  • The choice of attribution model should align with the specific insights you're seeking. This is because the attribution model will describe journeys differently depending on the pipeline stage you are focused on.

  • For example, if you're focused on understanding how customers start their journey and what leads to wins you might want to use the first-touch attribution model.

    Get an in-depth explanation of Dreamdata’s Attribution Models here →

Conclusion:

By following these steps, you can navigate the selection and application of attribution models in Dreamdata more effectively, ensuring your marketing analysis is both comprehensive and insightful.

Remember, the effectiveness of an attribution model in B2B marketing depends on the questions you are looking to answer!