As you learned in Part 1 and Part 2 of our Adobe Marketer Measure attribution model series, understanding the journey that leads customers to conversion has become crucial.
If you haven’t read the previous articles yet, check them out below!
- Part 1: Adobe Marketo Measure’s First Touch Attribution Model
- Part 2: Adobe Marketo Measure’s W-Shaped Attribution Model
Marketers don’t just rely on last-click attribution models anymore because they offer a limited perspective on customer behavior. Today, marketers seek a deeper understanding of the customer’s path, unveiling the true story behind their interactions with brands across multiple touchpoints.
That’s why we’re excited to share the Full Path Attribution Model with you. This model helps marketers understand and optimize every step of the customer journey, from the initial touchpoint to the conversion.
What Is the Full Path Attribution Model?
The Full Path Attribution Model considers all touchpoints leading up to a conversion. By revealing the entire story of the customer’s journey, this model enables marketers to understand which channels drive conversions and how each touchpoint influences the next.
How Does the Full Path Attribution Model Work?
The Full Path Model is similar to the W-Shaped Model, but instead of three touchpoints, it includes an additional fourth that documents customer interactions up to the conclusion of the opportunity, whether it’s Closed Won or Closed Lost. In scenarios where the Opportunity remains undetermined, the amount will remain as a value in the revenue pipeline.
By extending the attribution perspective to include the Closed Won / Closed Lost stage we are afforded insights into the influences that brought the deal to a conclusion.
Tracking Sales Influence with Tier 2 and Three
Depending on the iteration of the Marketo Measure package, (either Tier 1 or Tier 2), the platform can actually track the impact of direct sales interactions on deals. Going into a bit more detail on this point, the Tier 1 package of Marketo Measure tracks standard online touchpoints as well as those that are based on Salesforce campaign membership. The Tier 2 package, however, allows marketers to generate touchpoints based on the types of tasks and activities normally associated with the sales team. This is somewhat revolutionary in the realm of attribution in that it allows the story of the sales team’s activities to be stood up and evaluated next to the initiatives of the marketing department.
By leveraging the sales tracking feature we can access a more unified view of the buyer journey. In an ideal scenario, this unified view will ultimately result in better interdepartmental coordination and deliver net efficiencies across the board.
Tracking Sales influences with Tier 1
Setting Tier 2 features aside, the marketing department can still extract a considerable amount of information about the types of customer activities that are driving Closed Won deals. By tracking the type of activities happening just prior to a Closed Won deal, marketers can draw useful inferences about which channels are most effective at advancing prospects through the customer journey. Webinars, demos, and whitepaper downloads can all be tracked after the opportunity creation stage to reveal the particular type of marketing magic that was necessary to nudge the prospect into the customer camp.
Attributing Value to the Fourth Milestone
At Tier 1 the values accorded to the touchpoints associated with the four milestones are somewhat democratically set at 22.5% each. This adds up to 90%, leaving ten points to be held back and disbursed across the collective set of touchpoints that played a part in the customer journey, but were not directly associated with a milestone. For Tier 2 and Tier 3 subscribers, however, the percentage values can be manually adjusted. This allows the marketer the ability to weight the milestone according to their particular interpretive requirements. Of particular use is the ability to beef up the influence of the middle touches, which are capped at 10% in the preceding models.
Summing Up the Advantages of the Full Path
Traditionally, the marketing department can consider its mission relatively complete if it has attracted customers and framed the product offering in such a manner that the prospect can only conclude that the next logical step is to either buy the product or get in touch with a sales representative. As we have demonstrated, digital marketing can now track these journeys with considerable precision.
Such tracking can all be achieved with the W shaped model. But stopping there leaves potential revenue-generating insights still on the table. By employing the full path model and extending tracking to the Closed stage we can gather data on what influences were at play during the negotiation stage of the sale. Given the next stage results in either Closed Won or Closed Lost revenue, it only makes sense to tap into this model and see what lessons can be learned from the interactions taking place at this critical stage.
Ready to Start Using Full Path Attribution?
Now that you know more about Adobe’s Marketo Measure attribution models and their benefits, it’s time to start using them!
Marketing Automation Canada (MAC) is ready to be your trusted partner for Marketo Measure optimization. Our team of experts will help you:
- Extract valuable insights
- Streamline your marketing efforts
- Drive tangible results
With MAC’s specialized knowledge and hands-on experience, we’ll guide you through the intricacies of Adobe Marketo Measure, ensuring you harness its power to its fullest extent.
Don’t let untapped potential go to waste. Schedule a free strategy session today to discuss how MAC can optimize your Adobe Marketo Measure implementation and align it with your business goals.