B2B companies need an overview of how their marketing efforts have impacted the bottom-line metrics. Marketing attribution tools help measure different marketing channels’ effectiveness and optimize campaigns to boost ROI. This way, marketers can make solid data-driven decisions and assign their budgets effectively.
What is a Marketing Attribution Software?
A marketing attribution tool helps brands analyze touchpoints and interactions that lead to customer conversions. It offers insights into the most significant marketing channels, campaigns, and customer interactions contributing to purchases, website visits, or sign-ups.
Why Do Marketing Teams Need this Tool?
The tools use data analysis to identify channels and touchpoints that drive conversions and revenue. Brands can make informed decisions about resource allocation and campaign optimization by tracking and attributing the value of every touchpoint. This leads to more effective marketing efforts.
What Features Must Brands Look for in a Marketing Attribution Tool?
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Integration
Before choosing the tool, marketers must ensure it integrates seamlessly with the existing martech stack. It must connect with email marketing software, social media platforms, and CRM. At the same time, the tool must integrate with ad platforms and websites to obtain a holistic view of the pipeline.
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Ease
The tool must have a user-friendly UI/UX. Furthermore, also consider features like real-time alerts and automation for administrative tasks.
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Pricing
Brands must always consider the features and the subscription model the tool offers. Compare various tools to find the pricing that matches the allocated budget.
More importantly, pricing varies from one tool to another- some tools charge on the number of seats while others charge on the number of conversions.
Here are the top 5 marketing attribution tools for 2023.
1. Dreamdata
Dreamdata is a B2B revenue attribution tool that analyzes revenue using online and offline touchpoints. The tool integrates various data sources to provide a complete customer journey view.
It enables marketers to optimize their marketing tactics and drive growth. The attribution tool uses the latest algorithms and ML to identify each marketing touchpoint’s impact on revenue generation.
Features
- The attribution tool helps track engagements by assessing each URL’s performance.
- The platform offers a user-friendly plug-and-play integration setup
- It helps identify the top content that influences leads and customers
Pros
- Simple to Configure
- Continually introduces new features
Cons
- Restricted flexibility
- Complex UI/UX
- With limited training material, onboarding becomes a hassle
2. Full Circle Insights (FCI)
Full Circle Insights (FCI) is a multi-touch attribution tool ideal for marketing performance management. The tool helps marketers understand the customer journey by integrating customer data from marketing automation, CRMs, and ad platforms.
It tracks every touch point to obtain valuable insights about the most revenue-driven efforts. FCI also ensures that the marketing data is accurate to amplify the marketing efforts and acquire more leads. The tool has no integrations, but companies can link it with other apps. This enables the tool to integrate with more than a thousand SaaS apps.
Features
- It offers lead management, funnel metrics, and campaign attribution capabilities.
- Helps determine marketing offers across channels that drive conversions and pipelines
- Salesforce integration allows businesses to tie their marketing campaigns to revenue and track the ROI
Pros
- Simple to learn and understand
- Helps accurately track and gain visibility into lead-based activities
Cons
- Its implementation is complex
- It needs constant iteration and changes
- Since FCI is native to Salesforce, non-Salesforce users cannot use it
- Any external issues need an SFDC admin or developer to troubleshoot
3. Ruler Analytics
Ruler Analytics is a marketing attribution and lead-tracking tool. It maps user journeys and credits the channels that get leads. The tool allows marketers to determine leads and use reverse engineering to map the entire lead journey.
It uses these insights to predict prospect behavior. This helps marketers to take action by setting up campaigns to target customers at multiple stages in the pipeline.
Features
- It helps identify potential risks by assessing historical data to predict business outcomes and take measures accordingly
- The platform also identifies the campaigns, channels, and keywords that brought the leads
Pros
- Allows companies to track live chats, web forms, and calls from numerous marketing channels
- The tool offers a vast number of pre-built integrations
Cons
- Ruler Analytics only offers insights when a lead is converted, not from abandoned visitors.
- The dashboard takes time to load
- Bigger learning curve
- It does not provide account-level analytics
4. HockeyStack
HockeyStack is a no-code revenue attribution tool that combines data from multiple touchpoints to determine account-based intent at different stages of the buying journey.
The attribution tool gives more profound insights into the website’s visitors and behavior with robust analytics to help make data-driven decisions.
Brands can track clicks, form submissions, bounce rates, and session time. Interestingly, the above factors can be filtered as per geography and demographics.
Features
- Brands can gather data from all the touchpoints and see them in a unified visual dashboard
- Its unified tracking ability facilitates a single code for setup
- The tool flags the channels that drive leads, enabling brands to direct their marketing efforts and increasing ROI
Pros
- Dashboard can be customized
- Minimal code needed for implementation
- It seamlessly integrates with various CRMs, Account-based marketing tools, and marketing automation tools
Cons
- It does not offer content heatmaps
- Offers limited integration options
- Integration requests take time to build
- Restricted alerts and notifications
5. AI
Factors is a B2B visitor identification and attribution tool that helps marketers optimize efforts throughout campaigns, websites, offline channels, and CRM. The tool saves time and effort by offering a complete view of the customer journey.
Moreover, it provides data about every touchpoint interacted with by the users. This helps measure the performance and optimize it to generate more revenue.
Also Read: Best Marketing Automation Strategies to Help You Grow
Features
- It has many attribution models that can be ideal for connecting to market data across CRM, websites, and campaigns.
- Let brands track their marketing campaign spends and KPIs
- Helps visualize aggregated user paths
- Generates automated insights into the factors that help or are adversely affecting the conversions
Pros
- Identifies anonymous traffic
- Tracks visitor behavior
- Targets high-intent account
- Efficiently maps out customer engagement at a user and account level
- Helpful customer support
Cons
- Offers limited integrations
- The graphical representations are non-customizable
