In the digital world, customers encounter many marketing messages through different ways like social media, ads, and emails. For fast food franchises, it’s important to understand which of these methods are working best to attract customers. This is where ‘attribution’ comes in. Attribution in marketing means figuring out which marketing efforts are most effective in leading to sales.
Why Simplifying Attribution Can Be Misleading
Many fast food marketers use outdated ways to track their marketing success, which can be too simplistic. These methods might credit just one type of marketing (like a social media ad) for a sale, but in reality, customers often see many different marketing messages before they decide to buy.
Understanding Different Attribution Models
- Last-Click Attribution: This is where all the credit for a sale goes to the last marketing method the customer interacted with. However, this ignores all the other marketing messages the customer saw earlier.
- First-Touch Attribution: This gives all the credit to the first marketing method a customer saw. It’s useful for understanding what first catches a customer’s attention, but it doesn’t show the whole journey.
- Revenue-Based Attribution: This approach tries to link marketing methods to revenue, but it overlooks other important factors like long-term customer loyalty.
A Better Way: Multi-Touch Attribution (MTA)
MTA is a more detailed approach. It looks at all the different marketing methods a customer interacts with and tries to figure out how each one influenced their decision to buy. It’s like piecing together a puzzle to see the full picture of a customer’s journey.
Choosing the Right MTA Model
The best MTA model depends on what kind of business you have and how your customers behave. It’s about finding the approach that matches your specific needs.
Real-Life Success Stories
Some fast food chains have used MTA to improve their marketing:
- A pizza chain found that social media was great for attracting new customers.
- A burger chain learned the importance of word-of-mouth in getting repeat business.
- A chicken franchise used MTA to improve their customer service.
Tools and Tips for Better Attribution
There are tools and software that can help fast food franchises track and understand their marketing efforts. For those new to this, here are some tips:
- Use a comprehensive approach: Look at all the different ways customers interact with your marketing.
- Choose the right tools: Find software that helps you track and analyze your marketing efforts.
- Keep reviewing your approach: Regularly check if your attribution model still fits your business as it grows and changes.
By understanding and using these concepts, fast food franchises can better understand their customers, make smarter marketing decisions, and grow their business.
