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The marketing sector can be a complicated place as new marketing tools and techniques are launched, almost on a weekly basis. Powered by The Drum Network, this regular column invites The Drum Network’s members to demystify the marketing trade and offer expert insight and opinion on what is happening in the marketing industry today that can help your business tomorrow. John Murphy, head of multi-channel at Bloom Worldwide, has written a new whitepaper on the hot topic of attribution modelling. Here he provides a quick overview of what to expect. Attribution modelling is the method used to measure the monetary impact a piece of communication has on real business goals, for example: sales, customer retention, revenue and profit. Digital Marketing ROI: An introduction to attribution modelling’, we explore what attribution modelling is, how to implement it, and review common attribution models, which will help define the best starting point for your business.

There’s a big difference between these two lists. The second list contains important metrics, but businesses could survive without ever increasing them. The business metrics in the first list, however, are essential for all companies that want to survive and thrive. Implement the right technology to start gathering the information about where your different digital touch points appear in the customer journeys. There are several ways to do this and the most common is to implement tracking tags across all online activity. Tags allow individual user journeys to be tracked and analysed to see exactly how users behave when they are exposed to different marketing activities. This can all be done anonymously so you’re never violating users’ privacy.