The attribution theory marketing refers to the way marketers try to influence consumer behavior by attributing certain qualities to their products or services. The most common attribution theories used in marketing are the source credibility theory, the mere exposure theory, and the foot-in-the-mouth theory.
The source credibility theory states that consumers are more likely to believe messages that come from a credible source. A credible source is defined as someone or something the consumer perceives as an expert, such as a celebrity or influencer endorsing a product. Marketers can also use authority figures to promote their products, such as a physician recommending a medication.
The mere exposure theory refers to the idea that consumers are more likely to buy something if they are exposed to it multiple times. Marketers often rely on familiarity to sell their products, using familiar faces or catchy slogans in their ads in order to increase the likelihood that consumers will remember and then buy those products.
Finally, the foot-in-the-mouth theory suggests that consumers are more likely to buy a product if it is endorsed by someone they like and respect. Marketers often look for celebrities or other public figures to endorse their products, knowing that consumers are more likely to listen and buy in response.
As a marketer, it is important to be familiar with the different attribution theories available and how they can be used to influence consumer behavior. By understanding these theories, you can better craft your marketing messages to best be accepted by consumers.
Let's consider an e-commerce company running a multi-channel marketing campaign that includes social media ads, email marketing, and Google search ads. Using attribution marketing, they track the customer journey and identify that many customers initially discovered the brand through a social media ad, signed up for the email newsletter, and finally made a purchase through a Google search ad. By understanding this customer journey, the company can allocate the appropriate credit and optimize its marketing budget to focus on the most effective channels.
Attribution aims to identify and credit the marketing touchpoints contributing to customer conversions. By understanding which channels or campaigns are most influential at different customer journey stages, businesses can make data-driven decisions, optimize marketing strategies, and allocate resources effectively for better results.