Attribution software is used by companies to determine how actions, events, or touch points during the prospecting and sales processes contribute to the success of their marketing and sales teams. Companies use this software to assign a value to any factor that may contribute to a sale's success based on its influence on the customer or prospect during the interactions with the company.
The best attribution software solutions are usually a software hub that collects data from other marketing and software tools. It commonly integrates with tools used by sales, marketing, or public relations departments, like CRM software, marketing automation software, email marketing software, email tracking software, and sales analytics software.
Solutions in this category are differentiated based on the type of platform performing said attribution. Certain all-in-one platforms have attribution capabilities in addition to marketing features, like the CRM software mentioned above, which has marketing automation features. Alternatively, there are standalone products that exclusively offer attribution tools and offer limited or no other functionality.
To qualify for inclusion in the Attribution category, a product must:
Track multiple marketing and communication channels, like TV, social media, phone, email, and digital advertising channels, to capture data on the interactions between the company and its prospects or customers
Use multiple attribution models like single-touch attribution, when all attribution is assigned to only one event, fractional attribution that includes multiple events in the attribution, with equal or different weights, or algorithmic attribution, which uses data science for advanced attribution criteria and models
Provide dashboards and visualizations based on relevant historical data and user-defined key performance indicators (KPI) for users to understand which activities performed better and why
Integrate with software solutions used by sales, marketing, or public relations departments
