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Lean AI by Lomit Patel

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Chapter 8. Cross-channel attribution

In today’s data driven marketing world, cross-channel attribution is a hot topic. It’s defined as the science of using advanced analytics to allocate proportional credit to more than one digital and non-digital channel or touchpoint. This is very important to help growth teams gain insight into what’s working and not working, otherwise they’re just guessing. Having touchpoints attributed inaccurately is never helpful and leads to poor execution on their user acquisition strategy. All growth teams are responsible for knowing which campaigns are most effective to help them acquire new customers. As more and more startups spend heavily on advertising to attract new customers across a myriad of channels and platforms, the cost of acquiring new customer growth has continued to increase year over year. On top of that, the typical customer journey can take 5, 15 or more than 50 interactions with an ad or brand for someone to finally convert into a new customer.

The complex marketing landscape means that user acquisition efforts are spread out across a rapidly changing, and far reaching channel and media mix. In order to accurately measure both online and offline media, and its impact within the marketing mix and overall ROI, you need the ability to collect a variety of data to track prospects across the entire customer journey, then merge that data to map out which ones had the most impact to influence them becoming a new consumer. Clearly, marketing ...

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