As a marketer, one of our biggest challenges is understanding which channels effectively drive sales. That’s where attribution models come in handy. They allow you to associate value to the touchpoints that contribute to a successful buyer journey. One of the most popular models is the First Touch Attribution Model—it’s your detective in solving the case for where a customer’s first steps with your brand began.
But understanding attribution can be challenging. That’s why this model is so valuable. It’s designed to simplify the process by placing more importance on the customer’s first interaction with your brand.
Keep reading to learn how this model works and some key takeaways you can use to enhance your marketing strategies.
What Is Bizible?
Adobe Marketo Measure, formerly known as Bizible, is marketing attribution software that allows companies to accurately measure their marketing efforts’ ROI.
By providing a complete view of the customer journey, Bizible helps marketers identify which channels are most effective at driving revenue and adjust their strategies accordingly. This software integrates with Salesforce for seamless data sharing.
What Is Bizible Used For?
Marketers use Bizible to determine the impact of different marketing channels that drive customer conversions and revenue.
By taking into account all customer touchpoints, both online and offline, this solution provides a more holistic view of the customer journey by assigning a weight to each touchpoint based on its actual influence on the customer’s decision-making.
This allows marketers to see which channels and campaigns are most effective at driving sales, optimize their marketing strategies for maximum impact, and allocate their budgets more efficiently to achieve better ROI.
Who Uses Bizible?
Although Bizible can offer insights of value to any company that has a robust online marketing program, companies that realize the greatest benefits are ones that promote their brand through a diverse array of media channels and are seeking the optimal mix for these initiatives.
Anyone involved in a company’s marketing efforts can leverage the solution to improve their marketing strategies and drive revenue growth. This includes marketing professionals, managers, and even data analysts.
What Are Bizible Touchpoints?
Touchpoints are tracked interactions that a prospect has with a brand’s marketing messaging These touchpoints can occur online and offline, including actions such as clicking on an ad, attending a webinar, or meeting with a sales representative.
The software assigns a weight to each touchpoint based on its level of influence on the customer’s decision-making process. By tracking and analyzing these touchpoints, the software helps marketers gain a better understanding of the consumer journey to better optimize their marketing strategies for maximum impact.
What Are the 6 Attribution Models?
- Single-touch – The attribution credit is assigned to a single milestone touchpoint.
- Multi-touch- The majority of the attribution credit goes to two or more milestone touchpoints.
The remaining credit is distributed amongst touchpoints that occur between these milestone touchpoints.
The single-touch models include:
What Is the First Touch Attribution Model?
The First Touch Attribution Model imposes 100% of the attribution credit for a conversion to the first touchpoint a potential customer has with a brand, whether that’s through a marketing campaign or ad.
Any interaction that drove a prospective customer to engage with a brand for the first time is given full credit for any subsequent conversion that takes place.
Why Use First Touch Attribution?
First Touch Attribution can be valuable for businesses that want to:
- Identify which campaigns or channels are most effective at attracting new customers
- Optimize their marketing strategies to attract a higher volume of potential customers
- Allocate their budgets effectively to support campaigns that generate high-quality leads
By giving full credit to the first touchpoint, marketers can identify which channels create the highest levels of engagement relative to each other. Businesses can then adjust their budgets and resources accordingly.
First Touch Attribution Model Pros and Cons
The First Touch model can help marketers:
- Provide insights on the channels and campaigns that are most effective for attracting new customers
- Help businesses effectively allocate their budget to campaigns
- Identify the specific tactics that generate high-converting leads
Possible limiting perspectives of the model include:
- Doesn’t consider the influence of other touchpoints along the customer journey, leading to an incomplete picture of marketing effectiveness
- Ignoring the role that middle- or bottom-of-funnel activities and campaigns may have played in driving the final conversion
How Do I Set Up Bizible?
We recommend working with an expert to get the most out of Marketo Measure (Bizible) to ensure you’re configuring it to suit your organization’s needs.
It’s also important to regularly review your analytics and adjust your attribution models and channel mappings to ensure you get the most accurate insights possible.
The First Touch Attribution Model offers businesses a valuable tool for measuring the effectiveness of their marketing campaigns and identifying growth opportunities. Used alongside other powerful reporting and data analysis tools, Marketo Measure can offer an extremely comprehensive and detailed view of your business’s marketing efforts, so you can optimize your strategies accordingly.
Need help configuring your Adobe Marketo Measure? Our experts are here to help! Reach out today to schedule a free strategy session and find out how our team of experts can help you reach your business goals.