Marketing Attribution Needs to Catch Up to Retail’s Omnichannel World

Retailers face a major challenge. How can they capture new revenue in increasingly saturated and competitive performance marketing channels? As costs creep steadily higher across search, display, and social, retailers need a better way to uncover new marketing opportunities.

At the same time, the retail landscape has changed dramatically with new marketing channels and connected devices. Yet retailers continue to use antiquated attribution models, like last touch, to determine how they allocate their marketing budget across these channels.

Moving away from last touch is a critical step in finding new opportunities. Last touch gives the false impression that bottom-of-the-funnel marketing is responsible for all sales. In reality, the average customer touches multiple channels before making a purchase, and those early touches impact the sale far more than retailers can measure when they’re using last touch.

In this Point of View, we’ll explore why adopting a multi-touch attribution model is critical to retailers' continued growth in the years ahead. You’ll learn: 
  • Why multi-touch attribution is poised to usurp last and first touch models in the next few years
  • Why making an attribution change can reveal opportunities for driving new revenue
  • How to pinpoint the multi-touch model that aligns with your business’s sales cycle and goals
  • Key strategies for retailers to secure buy-in and drive the transition to a new attribution model