Lesson 6: Maximizing ROI with Marketing Attribution and Experimentation Flashcards
What is marketing attribution
helps you see the impact marketing had on a specific goal, usually a purchase or sale. It compiles all your customer data into one place and assigns credit to the marketing channels and touchpoints that influenced them throughout their buyer’s journey.
What are marketing attribution models?
Single source attribution: First touch, Last touch
multi-touch attribution: Linear, Full Path, Time Decay
What’s the difference between single/multi touch attribution models?
Single source: assigns all the credit to one touchpoint
Multi-touch source: assigns each contributing channel credit for each interaction
How does the time decay model calculate credit?
gives more credit to interactions that happened closer in time to the conversion.
Why is it important to run marketing experiments?
it helps identify friction in buyers journey stages and optimizes for improvement. It helps discover new strategies for future campaigns or validate existing ones.
What is A/B testing?
a marketing experiment wherein you split your audience to test a number of variations to a piece of content to determine which performs better.
What is statistical significance?
