In a recent Scorpion Research Study (published on the IFA site) done on Franchise Owner Marketing Attitudes & Usage, almost 27% of the business owner respondents said that Franchise Marketing Attribution was the most significant marketing challenge that they faced.
In addition, when asked about what aspects of their digital advertising could work better, respondents said: “they wanted their SEO, PPC, directory listing, and email marketing to work more cohesively.”
These marketing challenges may seem daunting but are not impossible to solve.
Key Factors to Consider for Better Franchise Marketing Attribution
1. Attribution > cohesion
When it comes to channel cohesion, it’s always the dream of any C-Level executive to want channels to work better together. The problem is that each channel is fighting for budget to innovate, so taking credit for revenue becomes paramount, which leads to treating colleagues as competitors.
While competitive spirit cannot be eliminated in the Franchise organization, the C-Suite needs to be the champions for better attribution modeling so that each channel can learn, collaborate and optimize interactions with the customer and subscriber base. The goal should always be the same – unified and amazing journeys filled with content and delight in all channels.
However, the predominant customer acquisition attribution model in place doesn’t allow any of this to happen at the organizational level.
2. Last click attribution is outdated
Last Click Attribution has been around for a long time and has seen better days. The premise of LCA is to give conversion credit to the channel with duh…the last click or touch.
The problem with this model is that it does not account for any of the other channels or touchpoints in the journey that could have impacted the conversion. Sure, it’s easy to calculate and track, but it does not tell the whole picture or give credit to everyone that deserves it.
If you are reading this and using LCA as your primary attribution measuring stick, please consider something else. Read on.
3. Linear attribution is like giving everyone a participation trophy.
A linear attribution is a form of a multi-attribution model, as it gives equal credit across each touchpoint or interaction. It offers a balanced view of each channel across marketing, but it aims to keep every Franchise Marketer happy. We like to call it the Switzerland of attribution models.
4. Time decay attribution is the perfect blend for the franchise marketer
A time decay model gives credit to all the channels that led to conversion, but the further back in time the channel is interacted with allows for the recognition of the channel to be less. A TDA model encourages cohesion and collaboration amongst channel owners to align messaging, offers, cadence, frequency, and many other things to allow for conversion points. It’s an outstanding balance with a twist of competition, and C-Level folks love it.
This attribution model is ideal for Franchise Marketers because it will allow for investment pressure testing and the ability to customize the model based on things such as days before conversion.
If you are struggling with franchise marketing attribution in digital marketing, consider making a change or consult with someone here at iPost about creating marketing programs that are custom for your organizational needs. iPost has built a platform that works specifically for franchises. Nothing is impossible, and while daunting at first, cohesion across your marketing team is vital.