How to Improve Marketing Mix Attribution with Invoca 

Invoca Improves Marketing Mix Attribution Modelling by Tracking Phone Leads

Marketing mix attribution is all about measuring the channels driving business success, but if you’re not tracking phone leads, you could be miscalculating your ROI. Invoca gives you a complete view of how your marketing channels generate phone call conversions and revenue. 

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“Invoca shows us exactly how much value each marketing campaign is driving, both online and over the phone. We can then double down on what’s working and cut what’s not. This has helped us increase our ROI, and prove our results.”

-Kellyanne Perez-Vera, Marketing Activations Manager at Verizon

Marketing Mix Attribution is Vital to Understanding Channel Success

Marketing mix attribution is the process of evaluating which marketing channels are contributing to conversions for your organization. When you add Invoca to your marketing mix attribution model, you can identify which channels are making the highest contribution to your bottom-line revenue, both online and over the phone. 

Optimise Marketing Budget and Resources

Allocating your marketing budget can be a challenge when you don’t have visibility into the phone leads your channels drive. When you add Invoca to your marketing mix attribution, you can track the call conversions your marketing generates and optimize your budget accordingly.

Identify Areas of Improvement within Marketing Campaigns

You could be wasting ad spend and not even know it, generating low-value clicks and phone calls that don’t convert. With Invoca, you can identify campaigns driving non-sales-related calls and reduce wasted budget. 

Fully Understand the Customer Journey Across Channels

In today’s omnichannel world, your customers engage with a mix of channels before they buy from you. Successful marketing attribution depends on tying these disparate channels together and unifying your analytics. Invoca provides the missing link by connecting deep insights into customer phone calls with the digital journey.

See a Complete Picture of Marketing Performance for Better Decision-Making

Your marketing leadership team depends on data to make decisions about where to invest budget, who to hire, and where to focus department priorities. When you use Invoca to create your marketing mix attribution model, your leadership team can make more informed decisions to drive the highest possible return on investment. 

Invoca Takes Marketing Mix Attribution to the Next Level

If you’re facing challenges with attributing your marketing dollars to revenue, Invoca can help. Our solution tracks the phone leads your marketing generates, so you can prove the full ROI of your campaigns. 

Phone calls and offline interactions are added to the mix

Invoca allows marketers to track phone calls and other offline interactions, providing a more complete picture of the customer journey. Marketers can use this data to optimize their marketing mix and allocate resources to the channels that are driving the most offline conversions.

With Invoca’s data from offline interactions, you can easily optimize your campaigns to drive more conversions. You can integrate Invoca data with your bid management tools and optimize your bidding strategy to generate more phone leads at a lower cost. 

Analyse the performance of each touchpoint within marketing campaigns

Marketers often undercount their conversions by as much as 40%. When you can measure your true marketing performance with attribution for calls, clicks, and outcomes, you can optimize campaigns to significantly reduce your CPA. 

Invoca makes it simple to get granular call attribution data — down to the search keyword level — so you can see exactly how a customer interacts with your campaigns and website before they pick up the phone. You’ll get data including keyword, landing page, campaign, and Google click ID to accurately optimize your campaigns so you can stop wasting budget on low-performing efforts and drive more high-value sales calls.

AI-powered insights for better, data-backed decision-making

Invoca provides a complete and accurate picture of marketing performance, allowing marketers to make data-driven decisions. Marketers can use Invoca's AI to capture insights from conversations that they can use to improve campaign performance.

With Invoca Signal AI Studio, you can get out-of-the-box algorithms or train your own custom algorithms to detect conversion events, call outcomes, and other important conversational topics as soon as they happen. You can stream and activate your conversation data across hundreds of platforms as soon as the call ends to optimize bidding strategies, build target audiences, and enrich CRM and CDP data.

Sometimes, your team may not know what insights to look for, and that’s where Signal Discovery comes in. Powered by unsupervised machine learning, it automatically groups customer conversations into topics so you can easily identify trends from tens of thousands of conversations and take action on them in real time. 

Integration across marketing channels

You can use Invoca to track calls from nearly any marketing channel, including digital ads, email marketing, and social media. The solution offers deep integrations with your martech tools, so you won’t have to change up your existing workflows.

Invoca offers no-code integrations, which make it quick and easy for teams to activate call attribution data in their tech stack, without developer resources or custom code builds. Popular no-code integrations include Google Ads, Google Analytics 4, Search Ads 360, Microsoft Advertising, Meta Ads, Salesforce, and Tealium. See our full integration library here.

Common Marketing Mix Attribution Challenges

There are a lot of pitfalls when it comes to marketing mix attribution, from difficulties collecting the right data to inaccurate models to good old-fashioned human bias. Are you facing any of the common challenges below?

Modelling is complex and often difficult to implement

Marketing mix modeling (MMM) is a complex process that uses regression analysis and historical data to highlight the relationship between conversions and ad spend. Just creating the mathematical model, in itself, can be a challenge — not to mention getting your team to buy into it and use it to guide business decisions. 

Attribution can be biased towards channels or touchpoints

Most companies use multi-touch attribution models, which assign value to multiple touchpoints in the customer journey. But it can be hard to know which touchpoints to weigh the most heavily. When marketers assign value to touchpoints, many operate on educated guesses instead of data.

Accurately tracking every marketing channel is challenging

To create a comprehensive and accurate attribution model, marketers need to capture data from every channel. This can be difficult, as your campaigns are operating on different martech tools and datasets. It gets especially tricky when you realize our customers aren’t just converting online — they’re calling to make purchases, too.

Models can neglect external factors impacting performance

Even the most sophisticated multi-touch marketing attribution model can’t account for every variable. The economic landscape, changes in consumer behavior, and other factors can change how consumers interact with your brand and make purchases. You can’t account for everything, but you should make the effort to cover as many bases as possible.

A lack of data or poor data quality can impact accuracy

If you’re missing data from even a single channel or touchpoint, this can create inaccuracies in your marketing attribution model. A common misstep is neglecting to include phone call conversion data — this leads to marketing teams undercounting their impact on business results.

Enhance Your Marketing Mix Attribution With Invoca 

When you use Invoca with your marketing attribution model, you can tie together the digital-to-call experience. This gives you a complete view of which marketing programs are driving conversions and revenue. The result: you can spend smarter and allocate more budget to your best-performing campaigns. 

FAQs About Marketing Mix Attribution 

Still have questions about marketing mix attribution? In this section, we answer common queries and dive into more detail.

Why is marketing mix attribution important?

Marketing mix attribution helps teams understand how various marketing activities are contributing to sales and revenue generation. When teams have accurate marketing mix modeling, they can allocate their budget to the best-performing campaigns — and cut spend on underperforming campaigns. They can also more effectively prove their results to leadership at the company, making a stronger case for more budget.

How do you measure the effectiveness of marketing activities?

To measure the effectiveness of a marketing campaign, you first need to identify the key metrics you want to move the needle on. Common marketing metrics include cost per acquisition, return on ad spend, return on investment, cost-per-click, and total conversions. Many teams also tie their marketing efforts to bottom-line revenue so they can clearly show their full impact on sales.

Read our post, How to Measure the Success of Marketing Campaigns to learn more.

How do you choose the right attribution model for your business?

Different attribution models allocate credit to different touchpoints throughout the customer journey — some place more weight on the first touch, on the last touch before conversion, or on particular channels. To select the right model, you will need to understand how your customers progress through the funnel, and which engagements have the most impact on their buying decision.

Learn more about marketing attribution modeling in this post.

What are some common challenges with marketing mix attribution?

One of the biggest challenges is that the customer journey is rarely linear, and each buyer may take a wholly different path to purchase your product. Because of this, it can be difficult to create a single model that works well for every engagement. In addition, marketers often face challenges collecting the right data to tie together the end-to-end journey.

Want to learn more about Invoca’s solution for marketing mix attribution? Check out our marketing attribution product page or you can request a personalized demo.