Attribution metrics cover data points of the who, what, where, when and how of a digital media campaign. And if you don’t know how to gather and interpret that information, it can get confusing on how to measure your franchise development program success.
The digital breadcrumbs you create through pixels, UTM codes, tags and backlinks are launched into the digital advertising world and work together to tell you where your leads are coming from, what resonates with online audiences and who interacts with your content.
Attribution metrics are essential in determining the effectiveness of your franchise’s media digital marketing strategy, which can include placements, advertisements, links and other marketing efforts.
If you’re not prepared to properly collect the data and interpret its significance, you’re doing yourself a disservice.
The Setup
Before you send out your magical tracking tools, you need to set up your CRM to capture and organize what they collect.
Setting up a robust CRM like HubSpot, FranConnect or Salesforce will define what metrics you want, how you want to collect them and from which platforms you want to collect them.
Reporting tools within a CRM are powerful, customizable and can offer valuable insights into the data you’re monitoring.
For instance, if you are running a brand awareness campaign, you can choose an attribution date range within a platform to determine the amount of time data will be collected. With the brand awareness campaign, you know your audience is going to see multiple impressions, so you might leave that attribution window open a little bit longer.
The data collected during that time, along with any increase in traffic, will provide you with valuable insight into the success of your campaign.
Interactions from potential leads like this can help you make informed decisions based on the data you want to collect. Your CRM can track the interactions between your leads and campaigns across platforms like Google Ads, Meta, X and LinkedIn.
Tracking Along
When you have your system set up, it’s time to dive into the specific metrics, and that begins with impressions, which measure how often your ad or other media is viewed or engaged with by a potential lead. But those are just the tip of the metric iceberg.
And then, there are conversions. Conversions track the number of times users take particular actions, such as purchases, email signups, downloading or filling out a form, or subscribing to a newsletter. The conversion rate, which is the ratio of conversions to clicks, helps you understand the effectiveness of your landing pages and calls to action.
To be able to tell where specific leads come from, digital codes are used in tracking tools like pixels, UTM links, tags and backlinks. These can tell you if your lead ultimately originated with a click from Facebook, Instagram or from a link in an article placed through PR or other source.
The attribution and sources also help determine quality and which platforms are driving the highest quantity and best conversion rates.
If the leads you’re getting from a particular platform are qualified, that’s where you want to apply more of your budget. But on the flip side, maybe none of them is financially qualified. That means your targeting is not right on that platform, or you may not be able to home in enough on your audience for that platform to drive the leads you need.
Using these tools will help you track attribution metrics accurately for your franchise development campaigns. By integrating them with your CRM, you can collect comprehensive data across all marketing channels, analyze performance and optimize your strategies for better results.
