How RevOps is Revolutionizing Marketing Attribution Models

For some time now, Revenue Operations has been transforming businesses and how they tackle marketing attribution. How, you ask? By bringing a more holistic, data-driven approach to the table to understand buyer and customer journeys. This shift comes at a time where businesses need to change how they measure and optimize their marketing efforts in order to sharpen their insights  and improve ROI.

The Rise of RevOps in Attribution

When it comes to aligning sales, marketing, and customer success teams, RevOps has emerged as the MVP. Its architecture is specifically designed to handle every company’s unique challenges of marketing attribution.

Challenges in Traditional Attribution

Traditional attribution models struggle with a lack of reliability; in both accuracy and comprehensiveness. 56% of marketers think attribution is vital, but 33% say it’s downright critical. Yet, even with all this importance and emphasis, nailing effective attribution is still a tall order for many companies.

How RevOps is Transforming Attribution

RevOps and Sales Operations ease these challenges by:

• Unifying Data Sources: Teams utilizing or managing the RevOps are leveraging new technologies that are providing a unified cross-channel view to customer interactions. 43% of marketers believe an ideal measurement solution would offer comprehensive perspectives.
• Implementing Multi-Touch Attribution: RevOps is no longer just a massive excel spreadsheet with someone manually segmenting each cell based on a behavior. RevOps is moving to a more sophisticated, multi-touch attribution model. This approach recognizes the fact that customers will interact with a brand multiple times before making a purchase decision. On average, a customer will visit a retailer site 9.5 times before deciding to buy. Imagine if we attempted to continue with the single-touch model… yikes.
• Focusing on Customer Experience: 22% of marketers say that customizing the customer experience is still the most important opportunity in attribution. So what’s that mean? It isn’t about where and when they touch the site, it’s about customizing the entire customer journey for different segments.

The Impact of RevOps on Attribution Models

This new approach is delivering results for companies big and small:

• Improved Efficiency: Multi-touch attribution models have driven efficiency to gain 15-30% in marketing spends.
• Better Budget Allocation: Companies that don’t use any form of attribution see their inbound budgets slashed by 12% or more.
• Enhanced Cross-Channel Insights: Your shoppers or customers aren’t on one channel. More specifically, 67% of shoppers and customers use more than one channel to make repeat purchases. With this new RevOps approach, you’ll make good work of being able to analyze multi-touch channel behavior.

Challenges, Opportunities, and the Future of Attribution

Challenges still exist, even with RevOps making great strides across the board. For example, 34% of marketers still say that having the right technologies for data collection and analysis has the greatest impact on their ability to understand the customer. And another 26% are stuck with attribution models that can’t accurately credit revenue to marketing efforts. There’s plenty of room for improvement.

With some of these issues, we can see a lot of improvement for the future such as more sophisticated models, greater emphasis on AI and ML, and an increased focus on customer lifetime value as well as cost per acquisition.

RevOps is revolutionizing how businesses take data and optimize it for revenue generation processes. By bringing together all of the data, technologies, and cross-functional collaboration, RevOps is pushing companies to gain unprecedented insights into their marketing efforts.