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The Only 7 Lead Generation Tools You Need in 2024
7 mars 2024, par ErinIf you can’t get leads, you can’t get customers. To ensure you always have a steady stream of new customers (and revenue), you need to equip yourself with lead generation tools.
Lead gen software does the heavy lifting for you so you can focus on providing great products and great services. With it, you’ll be able to turn more strangers into customers and grow your business.
And you don’t need a ton of tools to get the job done, either. Consolidating your tech stack to a few select tools will help you get more done in less time (and with less confusion).
In this article, we’ll analyse the top seven lead generation tools to help you grow your business in 2024.
Let’s dive in.
What is a lead generation tool?
A lead generation tool is software you can use to turn strangers into customers. It helps you draw customers into your sales funnel by learning their contact details, like their email address or phone number.
Lead generation tools are great levers you can pull to drive high-quality leads. They remove the grunt work by automating the lead generation process.
Whether it’s through creating lead magnets, offering conversion rate analytics, helping you create high-quality forms or automating the lead follow-up process, lead generation tools can bring in new customers to grow your business.
The top 7 lead generation tools in 2024
To land more leads, you need to ensure you’re leveraging the right software. With so many to choose from, here’s just a handful of the best ones available:
1. Matomo: Best conversion optimisation tool
Matomo is an open-source website analytics tool dedicated to protecting user privacy and data. Trusted on over 1 million websites, the platform offers in-depth insights into your web traffic, including conversion data.
Why Matomo? Matomo is trusted by over 1 million websites, including the United Nations and the European Commission, making it the leading choice for privacy-focused web analytics.
It comes equipped with a suite of conversion optimisation features to help you generate more leads. You can easily analyse your target audience’s behaviour while also respecting users’ privacy.
Standout features: In-depth visitor tracking, From Analytics, Session Recordings, A/B Testing, Heatmaps Marketing Attribution, roll-up reporting (pulling data from multiple sites), Google Analytics importing. and more.
Integrations: Cloudflare, WooCommerce, Squarespace, Shopify, Drupal, Magento, Vue, SharePoint, WordPress, Wix, Webflow, GoDaddy, Jimdo, Joomla, Kajabi. and more.
Pricing: Starts free for Matomo On-Premise and increases to $23/month for Matomo Cloud (which includes a free 21-day trial with no credit card required).
Pros
- 100% accurate data with no data sampling
- Leading web analytics tool for respecting visitor privacy
- Compliant with the strictest privacy laws, like the GDPR
- No need for cookie consent banner (except in the UK and Germany)
- Wide range of advanced features to optimise your website and increase conversions
- Cloud hosting and on-premise options for flexibility
Cons
- Matomo On-Premise requires technical expertise (but for the less technical, the Cloud option works instantly)
- On-Premise plugins are an additional cost
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2. HubSpot: Best all-in-one CRM for organising leads
HubSpot is a customer relationship management (CRM) and marketing software with over 194,000 customers worldwide. This user-friendly platform is dedicated to helping businesses of all sizes manage leads and customers.
Why HubSpot? HubSpot Marketing integrates seamlessly with the HubSpot CRM to help with everything from lead capture to conversion. The platform also features a free version — a great starting place for lead generation and management.
Standout features: A robust set of no-code lead gen tools, like ads, forms, customisable landing pages, lead capture templates for potential customers, email campaigns, analytics dashboards and a free CRM to track leads.
Integrations: Google Ads, WordPress, Jotform, Facebook Ads, Magento, Shopify, Weebly, WordPress, Zapier and Drupal.
Pricing: Starts free for anyone and increases to $800/month for a professional plan.
Pros
- User-friendly interface
- All-in-one lead management solution
- Easy integration with HubSpot CRM
- Simple analytics for beginners
- Includes landing page tools
- Offers email marketing tools to nurture leads
Cons
- Free version has limited functionality
- Expensive jump to paid plans
3. Leadfeeder: Best for finding warm B2B leads
Leadfeeder is a business-to-business (B2B) marketing tool that shows B2B brands which companies are visiting their websites and gives them contact information to reach out to the right decision-makers.
Why Leadfeeder? Leadfeeder simplifies outreach for B2B organisations because it shows you what businesses are interacting with your website. Rather than trying to reach out to completely cold leads, the tool highlights brands that are already checking out your content and offerings.
Standout features: Many account-based marketing (ABM) tools enable you to discover B2B accounts with insights into when you should contact them after they visit your site, as well as their job titles. The platform also includes a range of features that notify you and your sales team when qualified B2B leads come to your site so that you can move to capture them quickly.
Integrations: Zoho, Google Chat, Pipedrive, Salesforce, Google Looker Studio, ActiveCampaign, HubSpot, Mailchimp, Microsoft Dynamics and Slack.
Pricing: Starts at $139/month (includes a 14-day free trial).
Pros
- Easily find prospective customers
- Track website visitors and potential customers freely
- Simple filtering capabilities
Cons
- Few integrations available
- Can be difficult to contact customer support
4. OptinMonster: Best all-in-one lead generation form tool
Founded in 2013, OptinMonster has over 1.2 million users worldwide. It offers a wide range of lead gen tools led by robust form tools that turn your target audience into leads.
Why OptinMonster? The platform is one of the most reputable lead generation platforms available. With nearly 100 lead capture templates, it’s highly customisable to almost any business looking to begin capturing leads with different forms.
Standout features: 95 customisable form templates, drag-and-drop builders, onsite retargeting, segmentation, A/B testing and exit-intent popups that present forms when a user is about to leave the site.
Integrations: Constant Contact, ConvertKit, ActiveCampaign, Salesforce Pardot, Campaign Monitor, HubSpot, Jilt, Keap and Mailchimp.
Pricing: Starts at $16/month (no free trial offered).
Pros
- Easy drag-and-drop form-builder
- Wide range of form templates
- Customisable forms for any business
- Simple A/B testing to help optimise form performance
Cons
- No free trial available
- Growth features, like onsite retargeting, are only available on higher-tiered plans
5. Intercom: Best live chat tool for capturing leads
Intercom is one of the top live chat tools for helping businesses maintain solid communication with their customers. Founded in 2011, this live chat platform serves over 25,000 users around the world with a simple, sophisticated experience and seamless lead generation features.
Why Intercom? Intercom is a live chat tool first. But many people don’t know it’s also a simple lead capture tool. When people think of lead generation, they think of static or popup forms. But Intercom allows you to capture forms directly within a live chat conversation.
Standout features: Lead generation via live chat that allows you to naturally capture potential customers’ information to turn them into a lead. The tool also comes equipped with chatbots that can automate the communication and lead gen process on autopilot.
Integrations: Pipedrive, Typeform, Google Analytics, Zapier, Calendly, Salesforce, Stripe, Campaign Monitor, Clearbit Reveal and HubSpot.
Pricing: Starts at $39/month (with a 21-day free trial).
Pros
- Live chat lead gen capture
- Chatbot lead generation automation
- Wide range of integrations and apps
- User-friendly interface
Cons
- Fairly expensive for small businesses
- Customer support isn’t the fastest
6. Callingly: Best for making inbound calls with leads
Callingly is a sophisticated call software that lets you get the most out of every inbound call you get from leads. Founded in 2019, this software company gives valuable insights into your inbound call leads, pulling information from various integrations and forms.
Why Callingly? Callingly is a robust call software that gathers lead information through forms, lead magnets, landing pages and forms. The software also has intelligent routing, which sends a call to the most relevant salesperson.
Standout features: Advanced lead routing ensures inbound leads are directed to the most appropriate sales rep based on their unique needs and geographic location. The tool is also equipped with call tracking, analytics, lead source tracking and more to help personalise the experience for quick capture and conversion of leads.
Integrations: ClickFunnels, Pipedrive, Salesforce, Drip, Aircall, HubSpot, Jotform, OptinMonster, Unbounce and Zapier.
Pricing: Starts at $49/month (with a 14-day free trial).
Pros
- Instantly see robust caller information based on previous interactions
- Intelligent routing places leads with the right sales reps
- Call recordings to capture data and transfer it into your CRM
- Voicemail and caller ID capabilities
- Reporting and analytics for performance tracking
Cons
- Doesn’t include lead segmentation
- Limited customisations
- No email integration
7. Notion: Best for creating informational lead magnets
Notion is one of the most popular collaboration tools on the Internet. Founded in 2013, the platform has over 35 million users worldwide. While it’s known primarily for its advanced note-taking capabilities, Notion is also a simple tool you can use to create informational lead magnets.
Why Notion? Notion is a simple yet powerful tool you can use to create almost anything. If you want to generate more leads, then creating a free info product with Notion is a simple and effective way to do that. It enables you to create ebooks, digital courses and video courses without having to rely on expensive software.
Standout features: Documentation tools, note-taking, collaborative documents and duplication capabilities. It’s simple to create a high-value informational product, like an ebook or course with multiple chapters.
Integrations: Audienceful, Miro, Momentum, Slack, ChatGPT, Clockify, Desktop.com, SureTriggers, Trello and Google Drive.
Pricing: Starts at $8/month (no free trial available).
Pros
- Easy to create a digital product or lead magnet
- Leads have access with a simple link
- Lead magnet can be updated in real time
- AI writing assistant
- Drag-and-drop functionality
- User-friendly interface
- Low-cost pricing plans
Cons
- No free trial available (though there is a free version)
- Search function could use some improvement
- Performance isn’t the fastest
Use Matomo to generate more leads
If you want more leads, then you need to start tracking your website’s forms.
With Matomo, you get access to features like Form Analytics, A/B Testing, Heatmaps, and Session Recordings to help with conversion rate optimisation.
Recently, Concrete CMS leveraged Matomo’s funnel analysis feature to improve its lead capture. The CMS was then able to identify bottlenecks in user onboarding. Matomo’s insights showed that users were getting stuck at the address input stage of the form.
By tweaking their form, Concrete CMS tripled their leads in just a few days.
If you want to improve your lead generation, then get started with Matomo’s 21-day free trial today. No credit card required.
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21 day free trial. No credit card required.
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Multivariate Testing vs A/B Testing (Quick-Start Guide)
7 mars 2024, par ErinTraditional advertising (think Mad Men) was all about slogans, taglines and coming up with a one-liner that was meant to change the world.
But that type of advertising was extremely challenging to test, so it was hard to know if it worked. Most of the time, nobody knew if they were being effective with their advertising.
Enter modern marketing: the world of data-driven advertising.
Thanks to the internet and web analytics tools like Matomo, you can quickly test almost anything and improve your site.
The question is, should you do multivariate testing or A/B testing?
While both have their advantages, each has a specific use case.
In this guide, we’ll break down the differences between multivariate and A/B testing, offer some pros and cons of each and show you some examples so you can decide which one is best for you.
What is A/B testing?
A/B testing, or split testing, is testing an individual element in a medium against another version of the same element to see which produces better results.
A/B tests are conducted by creating two different versions of a digital landmark: a website, landing page, email, or advertisement.
The goal? Figure out which version performs better.
Let’s say, for example, you want to drive more sales on your core product page.
You test two call-to-action buttons: “Buy Now” and “Add to Cart.”
After running the test for two weeks, you see that “Buy Now” produced 1.2% conversions while “Add to Cart” produced 7.6%.
In this scenario, you’ve found your winner: version B, “Add to Cart.”
By conducting A/B tests regularly, you can optimise your site, increase engagement and convert more visitors into customers.
Keep in mind that A/B testing isn’t perfect; it doesn’t always produce a win.
According to Noah Kagan, founder of AppSumo, only 1 out of 8 A/B tests his company conducts produces significant change.
Advantages of A/B testing
A/B testing is great when you need to get an accurate result fast on a specific element of your marketing efforts.
Whether it’s a landing page or product page, you can get quick results without needing a lot of traffic.
A/B testing is one of the most widely accepted and used testing methods for marketers and business owners.
When you limit the number of tracked variables used in a test, you can quickly deliver reliable data, allowing you to iterate and pivot quickly if necessary.
This is a great way to test your marketing methods, especially if you’re a newer business or you don’t have substantial traffic yet.
Splitting up your traffic into a few segments (like with multivariate testing) will be very challenging to gain accurate results if you have lower daily traffic.
One final advantage of A/B testing is that it’s a relatively easy way to introduce testing and optimising to a team, decision-maker, or stakeholder since it’s easy to implement. You can quickly demonstrate the value with a simple change and tangible evidence.
Disadvantages of A/B testing
So, what are the downsides to A/B testing?
Although A/B testing can get you quick results on small changes, it has limitations.
A/B testing is all about measuring one element against another.
This means you’re immediately limited in how many elements you can test. If you have to test out different variables, then A/B testing isn’t your best option since you’ll have to run test after test to get your result.
If you need specific information on how different combinations of elements interact with one another on a web page, then multivariate is your best option.
What is multivariate testing?
If you want to take your testing to the next level, you’ll want to try multivariate testing.
Multivariate testing relies on the same foundational mechanism of A/B testing, but instead of matching up two elements against one another, it compares a higher number of variables at once.
Multiple + variations = multivariate.
Multivariate testing looks at how combinations of elements and variables interact.
Like A/B testing, traffic to a page is split between different web page versions. Multivariate testing aims to measure each version’s effectiveness against the other versions.
Ultimately, it’s about finding the winning combination.
When to use multivariate testing
The quick answer on when to use multivariate testing is if you have enough traffic.
Just how much traffic, though?
While there’s no set number, you should aim to have 10,000 visitors per month or more, to ensure that each variant receives enough traffic to produce meaningful results within a reasonable time frame.
Once you meet the traffic requirement, let’s talk about use cases.
Let’s say you want to introduce a new email signup.
But you want to create it from scratch and aren’t sure what will make your audience take action.
So, you create a page with a signup form, a header, and an image.
To run a multivariate test, you create two lengths of signup forms, four headlines, and two images.
Next, you would create a test to split traffic between these sixteen combinations.
Advantages of multivariate testing
If you have enough traffic, multivariate testing can be an incredible way to speed up your A/B testing by testing dozens of combinations of your web page.
This is handy when creating a new landing page and you want to determine if specific parts of your design are winners — which you can then use in future campaigns.
Disadvantages of multivariate testing
The main disadvantage of multivariate testing is that you need a lot of traffic to get started.
If you try to do a multivariate analysis but you’re not getting much traffic, your results won’t be accurate (and it will take a long time to see accurate data).
Additionally, multivariate tests are more complicated. They’re best suited for advanced marketers since more moving parts are at play.
Key differences between multivariate and A/B testing
Now that we’ve covered what A/B and multivariate tests are, let’s look at some key differences to help clarify which is best for you.
1. Variation of combinations
The major difference between A/B and multivariate testing is the number of combinations involved.
With A/B testing, you only look at one element (no combinations). You simply take one part of your page (i.e., your headline copy) and make two versions.
With multivariate testing, you’re looking at combinations of different elements (i.e., headline copy, form length, images).
2. Number of pages to test
The next difference lies in how many pages you will test.
With an A/B test, you are splitting traffic on your website to two different pages: A and B.
However, with multivariate testing, you will likely have 4-16 different test pages.
This is because dozens of combinations can be created when you start testing a handful of elements at once.
For example, if you want to test two headlines, two form buttons and two images on a signup form, then you have several combinations:
- Headline A, Button A, Image A
- Headline A, Button A, Image B
- Headline A, Button B, Image A
- Headline A, Button B, Image B
- Headline B, Button A, Image A
- Headline B, Button A, Image B
- Headline B, Button B, Image A
- Headline B, Button B, Image B
In this scenario, you must create eight pages to send traffic to.
3. Traffic requirements
The next major difference between the two testing types is the traffic requirements.
With A/B testing, you don’t need much traffic at all.
Since you’re only testing two pages, you can split your traffic in half between the two types.
However, if you plan on implementing a multivariate test, you will likely be splitting your traffic at least four or more ways.
This means you need to have significantly more traffic coming in to get accurate data from your test. If you try to do this when your traffic is too low, you won’t have a large enough sample size.
4. Time requirements
Next up, just like traffic, there’s also a time requirement.
A/B testing only tests two versions of a page against each other (while testing a single element). This means you’ll get accurate results faster than a multivariate test — usually within days.
However, for a multivariate test, you might need to wait weeks. This is because you’re splitting your traffic by 4, 8, 12, or more web page variations. This could take months since you need a large enough sample size for accuracy.
5. Big vs. small changes
Another difference between A/B testing and multivariate testing is the magnitude of changes.
With an A/B test, you’re looking at one element of a page, which means changing that element to the winning version isn’t a major overhaul of your design.
But, with multivariate testing, you may find that the winning combination is drastically different than your control page, which could lead to a significant design change.
6. Accuracy of results
A/B tests are easier to decipher than multivariate testing since you only look at two versions of a single element on a page.
You have a clear winner if one headline yields a 5% conversion rate and another yields a 1.2% conversion rate.
But multivariate testing looks at so many combinations of a page that it can be a bit trickier to decipher what’s moving the needle.
Pros and cons: Multivariate vs. A/B testing
Before picking your testing method of choice, let’s look at some quick pros and cons.
A/B testing pros and cons
Here are the pros and cons of A/B testing:
Pros
- Get results quickly
- Results are easier to interpret
- Lower traffic requirement
- Easy to get started
Cons
- You need to be hyper-focused on the right testing element
- Requires performing test after test to optimise a web page
Multivariate testing pros and cons
Here are the pros and cons of multivariate testing:
Pros
- Handy when redesigning an entire web page
- You can test multiple variables at once
- Significant results (since traffic is higher)
- Gather multiple data insights at once
Cons
- Requires substantial traffic
- Harder to accurately decipher results
- Not as easy to get started (more advanced)
Use Matomo to start testing and improving your site
You need to optimise your website if you want to get more leads, land more conversions and grow your business.
A/B testing and multivariate testing are proven testing methods you can lean on to improve your website and create a better user experience.
You may prefer one testing method now over the other, and that’s okay.
The main thing is you’re starting to test. The best marketers and analysts in the world find what works through testing and double down on their winning tactics.
If you want to start improving your website with testing today, get started with Matomo for free.
With Matomo, you can conduct A/B tests and multivariate tests easily, accurately, and ethically. Unlike other web analytics tools, Matomo prioritises privacy, providing
100% accurate data without sampling, and eliminates the need for cookie consent
banners (except in the UK and Germany).Try Matomo free for 21-days. No credit card required.
Try Matomo for Free
21 day free trial. No credit card required.
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6 Crucial Benefits of Conversion Rate Optimisation
26 février 2024, par ErinWhether investing time or money in marketing, you want the best return on your investment. You want to get as many customers as possible with your budget and resources.
That’s what conversion rate optimisation (CRO) aims to do. But how does it help you achieve this major goal?
This guide explores the concrete benefits of conversion rate optimisation and how they lead to more effective marketing and ROI. We’ll also introduce specific CRO best practices to help unlock these benefits.
What is conversion rate optimisation?
Conversion rate optimisation (CRO) is the process of examining your website for improvements and creating tests to increase the number of visitors who take a desired action, like purchasing a product or submitting a form.
The conversion rate is the percentage of visitors who complete a specific goal.
In order to improve your conversion rate, you need to figure out:
- Where your customers come from
- How potential customers navigate or interact with your website
- Where potential customers are likely to exit your site (or abandon carts)
- What patterns drive valuable actions like sign-ups and sales
From there, you can gradually implement changes that will drive more visitors to convert. That’s the essence of conversion rate optimisation.
6 top benefits of conversion rate optimisation (and best practices to unlock them)
Conversion rate optimisation can help you get more out of your campaigns without investing more. CRO helps you in these six ways:
1. Understand your visitors (and customers) better
The main goal of CRO is to boost conversions, but it’s more than that. In the process of improving conversion rates, you’ll also benefit by gaining deep insights into user behaviour, preferences, and needs.
Using web analytics, tests and behavioural analytics, CRO helps marketers shape their website to match what users need.
Best practices for understanding your customer:
First, analyse how visitors act with full context (the pages they view, how long they stay and more).
In Matomo, you can use the Users Flow report to understand how visitors navigate through your site. This will help you visualise and identify trends in the buyer’s journey.
Then, you can dive deeper by defining and analysing journeys with Funnels. This shows you how many potential customers follow through each step in your defined journey and identify where you might have a leaky funnel.
In the above Funnel Report, nearly half of our visitors, just 44%, are moving forward in the buyer’s journey after landing on our scuba diving mask promotion page. With 56% of potential customers dropping off at this page, it’s a prime opportunity for optimising conversions.
Think of Funnels as your map, and pages with high drop-off rates as valuable opportunities for improvement.
Once you notice patterns, you can try to identify the why. Analyse the pages, do user testing and do your best to improve them.
2. Deliver a better user experience
A better understanding of your customers’ needs means you can deliver a better user experience.
For example, if you notice many people spend more time than expected on a particular step in the sign-up process, you can work to streamline it.
Best practices for improving your user experience:
To do this, you need to come up with testable hypotheses. Start by using Heatmaps and Session Recordings to visualise the user experience and understand where visitors are hesitating, experiencing points of frustration, and exiting.
You need to outline what drives certain patterns in behaviour — like cart abandonment for specific products, and what you think can fix them.
Let’s look at an example. In the screenshot above, we used Matomo’s Heatmap feature to analyse user behaviour on our website.
Only 65% of visitors scroll down far enough to encounter our main call to action to “Write a Review.” This insight suggests a potential opportunity for optimisation, where we can focus efforts on encouraging more users to engage with this key element on our site.
Once you’ve identified an area of improvement, you need to test the results of your proposed solution to the problem. The most common way to do this is with an A/B test.
This is a test where you create a new version of the problematic page, trying different titles, comparing long, and short copy, adding or removing images, testing variations of call-to-action buttons and more. Then, you compare the results — the conversion rate — against the original. With Matomo’s A/B Testing feature, you can easily split traffic between the original and one or more variations.
In the example above from Matomo, we can see that testing different header sizes on a page revealed that the wider header led to a higher conversion rate of 47%, compared to the original rate of 35% and the smaller header’s 36%.
Matomo’s report also analyses the “statistical significance” of the difference in results. Essentially, this is the likelihood that the difference comes from the changes you made in the variation. With a small sample size, random patterns (like one page receiving more organic search visits) can cause the differences.
If you see a significant change over a larger sample size, you can be fairly certain that the difference is meaningful. And that’s exactly what a high statistical significance rating indicates in Matomo.
Once a winner is identified, you can apply the change and start a new experiment.
3. Create a culture of data-driven decision-making
Marketers can no longer afford to rely on guesswork or gamble away budgets and resources. In our digital age, you must use data to get ahead of the competition. In 2021, 65% of business leaders agreed that decisions were getting more complex.
CRO is a great way to start a company-wide focus on data-driven decision-making.
Best practices to start a data-driven culture:
Don’t only test “hunches” or “best practices” — look at the data. Figure out the patterns that highlight how different types of visitors interact with your site.
Try to answer these questions:
- How do our most valuable customers interact with our site before purchasing?
- How do potential customers who abandon their carts act?
- Where do our most valuable customers come from?
Moreover, it’s key to democratise insights by providing multiple team members access to information, fostering informed decision-making company-wide.
4. Lower your acquisition costs and get higher ROI from all marketing efforts
Once you make meaningful optimisations, CRO can help you lower customer acquisition costs (CAC). Getting new customers through advertising will be cheaper.
As a result, you’ll get a better return on investment (ROI) on all your campaigns. Every ad and dollar invested will get you closer to a new customer than before. That’s the bottom line of CRO.
Best practices to lower your CAC (customer acquisition costs) through CRO adjustments:
The easiest way to lower acquisition costs is to understand where your customers come from. Use marketing attribution to track the results of your campaigns, revealing how each touchpoint contributes to conversions and revenue over time, beyond just last-click attribution.
You can then compare the number of conversions to the marketing costs of each channel, to get a channel-specific breakdown of CAC.
This performance overview can help you quickly prioritise the best value channels and ads, lowering your CAC. But these are only surface-level insights.
You can also further lower CAC by optimising the pages these campaigns send visitors to. Start with a deep dive into your landing pages using features like Matomo’s Session Recordings or Heatmaps.
They can help you identify issues with an unengaging user experience or content. Using these insights, you can create A/B tests, where you implement a new page that replaces problematic headlines, buttons, copy, or visuals.
When a test shows a statistically significant improvement in conversion rates, implement the new version. Repeat this over time, and you can increase your conversion rates significantly, getting more customers with the same spend. This will reduce your customer acquisition costs, and help your company grow faster without increasing your ad budget.
5. Improve your average order value (AOV) and customer lifetime value (CLV)
CRO isn’t only about increasing the number of customers you convert. If you adapt your approach, you can also use it to increase the revenue from each customer you bring in.
But you can’t do that by only tracking conversion rates, you also need to track exactly what your customers buy.
If you only blindly optimise for CAC, you even risk lowering your CLV and the overall profitability of your campaigns. (For example, if you focus on Facebook Ads with a $6 CAC, but an average CLV of $50, over Google Ads with a $12 CAC, but a $100 CLV.)
Best practices to track and improve CLV:
First, integrate your analytics platform with your e-commerce (B2C) or your CRM (B2B). This will help you get a more holistic view of your customers. You don’t want the data to stop at “converted.” You want to be able to dive deep into the patterns of high-value customers.
The sales report in Matomo’s ecommerce analytics makes it easy to break down average order value by channels, campaigns, and specific ads.
In the report above, we can see that search engines drive customers who spend significantly more, on average, than social networks — $241 vs. $184. But social networks drive a higher volume of customers and more revenue.
To figure out which channel to focus on, you need to see how the CAC compares to the AOV (or CLV for B2B customers). Let’s say the CAC of social networks is $50, while the search engine CAC is $65. Search engine customers are more profitable — $176 vs. $134. So you may want to adjust some more budget to that channel.
To put it simply:
Profit per customer = AOV (or CLV) – CAC
Example:
- Profit per customer for social networks = $184 – $50 = $134
- Profit per customer for search engines = $241 – $65 = $176
You can also try to A/B test changes that may increase the AOV, like creating a product bundle and recommending it on specific sales pages.
An improvement in CLV will make your campaigns more profitable, and help stretch your advertising budget even further.
6. Improve your content and SEO rankings
A valuable side-effect of focusing on CRO metrics and analyses is that it can boost your SEO rankings.
How?
CRO helps you improve the user experience of your website. That’s a key signal Google (and other search engines) care about when ranking webpages.
For example, Google’s algorithm considers “dwell time,” AKA how long a user stays on your page. If many users quickly return to the results page and click another result, that’s a bad sign. But if most people stay on your site for a while (or don’t return to Google at all), Google thinks your page gives the user their answer.
As a result, Google will improve your website’s ranking in the search results.
Best practices to make the most of CRO when it comes to SEO:
Use A/B Testing, Heatmaps, and Session Recordings to run experiments and understand user behaviour. Test changes to headlines, page layout, imagery and more to see how it impacts the user experience. You can even experiment with completely changing the content on a page, like substituting an introduction.
Bring your CRO-testing mindset to important pages that aren’t ranking well to improve metrics like dwell time.
Start optimising your conversion rate today
As you’ve seen, enjoying the benefits of CRO heavily relies on the data from a reliable web analytics solution.
But in an increasingly privacy-conscious world (just look at the timeline of GDPR updates and fines), you must tread carefully. One of the dilemmas that marketing managers face today is whether to prioritise data quality or privacy (and regulations).
With Matomo, you don’t have to choose. Matomo values both data quality and privacy, adhering to stringent privacy laws like GDPR and CCPA.
Unlike other web analytics, Matomo doesn’t sample data or use AI and machine learning to fill data gaps. Plus, you can track without annoying visitors with a cookie consent banner – so you capture 100% of traffic while respecting user privacy (excluding in Germany and UK).
And as you’ve already seen above, you’ll still get plenty of reports and insights to drive your CRO efforts. With User Flows, Funnels, Session Recordings, Form Analytics, and Heatmaps, you can immediately find insights to improve your bottom line.
And our built-in A/B testing feature will help you test your hypotheses and drive reliable progress. If you’re ready to reliably optimise conversion rates (with accuracy and without privacy concerns), try Matomo for free for 21 days. No credit card required.
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Attribution Tracking (What It Is and How It Works)
23 février 2024, par ErinFacebook, TikTok, Google, email, display ads — which one is best to grow your business? There’s one proven way to figure it out: attribution tracking.
Marketing attribution allows you to see which channels are producing the best results for your marketing campaigns.
In this guide, we’ll show you what attribution tracking is, why it’s important and how you can leverage it to accelerate your marketing success.
What is attribution tracking?
By 2026, the global digital marketing industry is projected to reach $786.2 billion.
With nearly three-quarters of a trillion U.S. dollars being poured into digital marketing every year, there’s no doubt it dominates traditional marketing.
The question is, though, how do you know which digital channels to use?
By measuring your marketing efforts with attribution tracking.
So, what is attribution tracking?
Attribution tracking is where you use software to keep track of different channels and campaign efforts to determine which channel you should attribute conversion to.
In other words, you can (and should) use attribution tracking to analyse which channels are pushing the needle and which ones aren’t.
By tracking your marketing efforts, you’ll be able to accurately measure the scale of impact each of your channels, campaigns and touchpoints have on a customer’s purchasing decision.
If you don’t track your attribution, you’ll end up blindly pouring time, money, and effort into activities that may or may not be helpful.
Attribution tracking simply gives you insight into what you’re doing right as a marketer — and what you’re doing wrong.
By understanding which efforts and channels are driving conversions and revenue, you’ll be able to properly allocate resources toward winning channels to double down on growth.
Matomo lets you track attribution across various channels. Whether you’re looking to track your conversions through organic, referral websites, campaigns, direct traffic, or social media, you can see all your conversions in one place.
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Get the web insights you need, without compromising data accuracy.
Why attribution tracking is important
Attribution tracking is crucial to succeed with your marketing since it shows you your most valuable channels.
It takes the guesswork out of your efforts.
You don’t need to scratch your head wondering what made your campaigns a success (or a failure).
While most tools show you last click attribution by default, using attribution tracking, or marketing attribution, you can track revenue and conversions for each touchpoint.
For example, a Facebook ad might have no led to a conversion immediately. But, maybe the visitor returned to your website two weeks later through your email campaign. Attribution tracking will give credit over longer periods of time to see the bigger picture of how your marketing channels are impacting your overall performance.
Here are five reasons you need to be using attribution tracking in your business today:
1. Measure channel performance
The most obvious way attribution tracking helps is to show you how well each channel performs.
When you’re using a variety of marketing channels to reach your audience, you have to know what’s actually doing well (and what’s not).
This means having clarity on the performance of your:
- Emails
- Google Ads
- Facebook Ads
- Social media marketing
- Search engine optimisation (SEO)
- And more
Attribution tracking allows you to measure each channel’s ROI and identify how much each channel impacted your campaigns.
It gives you a more accurate picture of the performance of each channel and each campaign.
With it, you can easily break down your channels by how much they drove sales, conversions, signups, or other actions.
With this information, you can then understand where to further allocate your resources to fuel growth.
2. See campaign performance over longer periods of time
When you start tracking your channel performance with attribution tracking, you’ll gain new insights into how well your channels and campaigns are performing.
The best part — you don’t just get to see recent performance.
You get to track your campaign results over weeks or months.
For example, if someone found you through Google by searching a question that your blog had an answer to, but they didn’t convert, your traditional tracking strategy would discount SEO.
But, if that same person clicked a TikTok ad you placed three weeks later, came back, and converted — SEO would receive some attribution on the conversion.
Using an attribution tracking tool like Matomo can help paint a holistic view of how your marketing is really doing from channel to channel over the long run.
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Get the web insights you need, without compromising data accuracy.
3. Increase revenue
Attribution tracking has one incredible benefit for marketers: optimised marketing spend.
When you begin looking at how well your campaigns and your channels are performing, you’ll start to see what’s working.
Attribution tracking gives you clarity into the performance of campaigns since it’s not just looking at the first time someone clicks through to your site. It’s looking at every touchpoint a customer made along the way to a conversion.
By understanding what channels are most effective, you can pour more resources like time, money and labour into those effective channels.
By doubling down on the winning channels, you’ll be able to grow like never before.
Rather than trying to “diversify” your marketing efforts, lean into what’s working.
This is one of the key strategies of an effective marketer to maximise your campaign returns and experience long-term success in terms of revenue.
4. Improve profit margins
The final benefit to attribution tracking is simple: you’ll earn more profit.
Think about it this way: let’s say you’re putting 50% of your marketing spend into Facebook ads and 50% of your spend into email marketing.
You do this for one year, allocating $500,000 to Facebook and $500,000 to email.
Then, you start tracking attribution.
You find that your Facebook ads are generating $900,000 in revenue.
That’s a 1,800% return on your investment.
Not bad, right?
Well, after tracking your attribution, you see what your email revenue is.
In the past year, you generated $1.7 million in email revenue.
That’s a 3,400% return on your investment (close to the average return of email marketing across all industries).
In this scenario, you can see that you’re getting nearly twice as much of a return on your marketing spend with email.
So, the following year, you decide to go for a 75/25 split.
Instead of putting $500,000 into both email and Facebook ads and email, you put $750,000 into email and $250,000 into Facebook ads.
You’re still diversifying, but you’re doubling down on what’s working best.
The result is that you’ll be able to get more revenue by investing the same amount of money, leaving you with higher profit margins.
Different types of marketing attribution tracking
There are several types of attribution tracking models in marketing.
Depending on your goals, your business and your preferred method, there are a variety of types of attribution tracking you can use.
Here are the six main types of attribution tracking:
1. Last interaction
Last interaction attribution model is also called “last touch.”
It’s one of the most common types of attribution. The way it works is to give 100% of the credit to the final channel a customer interacted with before they converted into a customer.
This could be through a paid ad, direct traffic, or organic search.
One potential drawback of last interaction is that it doesn’t factor in other channels that may have assisted in the conversion. However, this model can work really well depending on the business.
2. First interaction
This is the opposite of the previous model.
First interaction, or “first touch,” is all about the first interaction a customer has with your brand.
It gives 100% of the credit to the channel (i.e. a link clicked from a social media post). And it doesn’t report or attribute anything else to another channel that someone may have interacted with in your marketing mix.
For example, it won’t attribute the conversion or revenue if the visitor then clicked on an Instagram ad and converted. All credit would be given to the first touch which in this case would be the social media post.
The first interaction is a good model to use at the top of your funnel to help establish which channels are bringing leads in from outside your audience.
3. Last non-direct
Another model is called the last non-direct attribution model.
This model seeks to exclude direct traffic and assigns 100% credit for a conversion to the final channel a customer interacted with before becoming a customer, excluding clicks from direct traffic.
For instance, if someone first comes to your website from an emai campaignl, and then, a week later, directly visits and buys a product, the email campaign gets all the credit for the sale.
This attribution model tells a bit more about the whole sales process, shedding some more light on what other channels may have influenced the purchase decision.
4. Linear
Another common attribution model is linear.
This model distributes completely equal credit across every single touchpoint (that’s tracked).
Imagine someone comes to your website in different ways: first, they find it through a Google search, then they click a link in an email from your campaign the next day, followed by visiting from a Facebook post a few days later, and finally, a week later, they come from a TikTok ad.
Here’s how the attribution is divided among these sources:
- 25% Organic
- 25% Email
- 25% Facebook
- 25% TikTok ad
This attirubtion model provides a balanced perspective on the contribution of various sources to a user’s journey on your website.
5. Position-based
Position-based attribution is when you give 40% credit to both the first and last touchpoints and 20% credit is spread between the touchpoints in between.
This model is preferred if you want to identify the initial touchpoint that kickstarted a conversion journey and the final touchpoint that sealed the deal.
The downside is that you don’t gain much insight into the middle of the customer journey, which can make it hard to make effective decisions.
For example, someone may have been interacting with your email newsletter for seven weeks, which allowed them to be nurtured and build a relationship with you.
But that relationship and trust-building effort will be overlooked by the blog post that brought them in and the social media ad that eventually converted them.
6. Time decay
The final attribution model is called time decay attribution.
This is all about giving credit based on the timing of the interactions someone had with your brand.
For example, the touchpoints that just preceded the sale get the highest score, while the first touchpoints get the lowest score.
For example, let’s use that scenario from above with the linear model:
- 25% SEO
- 25% Email
- 25% Facebook ad
- 25% Organic TikTok
But, instead of splitting credit by 25% to each channel, you weigh the ones closer to the sale with more credit.
Instead, time decay may look at these same channels like this:
- 5% SEO (6 weeks ago)
- 20% Email (3 weeks ago)
- 30% Facebook ad (1 week ago)
- 45% Organic TikTok (2 days ago)
One downside is that it underestimates brand awareness campaigns. And, if you have longer sales cycles, it also isn’t the most accurate, as mid-stage nurturing and relationship building are underlooked.
Leverage Matomo: A marketing attribution tool
Attribution tracking is a crucial part of leading an effective marketing strategy.
But it’s impossible to do this without the right tools.
A marketing attribution tool can give you insights into your best-performing channels automatically.
One of the best marketing attribution tools available is Matomo, a web analytics tool that helps you understand what’s going on with your website and different channels in one easy-to-use dashboard.
With Matomo, you get marketing attribution as a plug-in or within Matomo On-Premise or for free in Matomo Cloud.
The best part is it’s all done with crystal-clear data. Matomo gives you 100% accurate data since it doesn’t use data sampling on any plans like Google Analytics.
To start tracking attribution today, try Matomo’s 21-day free trial. No credit card required.
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21 day free trial. No credit card required.
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7 Best Marketing Attribution Software in 2024
22 février 2024, par ErinIt can be hard to accurately track the impact of your marketing efforts across marketing channels and campaigns. That’s where marketing attribution software comes in.
It goes beyond basic web analytics solutions that just look at the final click. Instead, it shows how different channels, content, and ads are performing at every step of the buyer’s journey, which gives a more accurate picture than just focusing on the last click.
In this guide, we’ll cover the basics of marketing attribution, list the top marketing attribution software and explain how the issue of privacy is transforming the web analytics industry.
What is marketing attribution?
Marketing attribution is the process of assigning credit to each touchpoint in a buyer’s journey that leads to a desired action (such as a conversion or sale) in order to understand the effectiveness of various marketing channels and campaigns in influencing the customer’s decision-making process.
Marketers use software tools like website analytics to to track and analyse customer interactions across different touchpoints, allowing them to attribute conversions or sales to specific marketing efforts and optimise their strategies and budgets accordingly.
Why is marketing attribution so important?
If you don’t track your campaigns correctly, it’s easy to spend thousands (or even millions) in an ineffective way. A 2022 survey by Australian marketing agency Next&Co revealed their clients wasted AU$5.46 billion in ineffective ad spend.
That’s 41% of all the ad spend tracked by Next&Co in 2022. A wasted marketing spend percentage this high isn’t exactly a recipe for a high marketing return on investment (ROI). And yet, it’s the average.
Why is that?
Most companies don’t actively track the results of their marketing campaigns actively enough.
By improving your marketing attribution, you can determine which channels, ads, and campaigns work and which don’t. Then, you can move the budget from ineffective channels to effective ones.
Even if you can only identify half of your wastage, this could be 20% or more of your total spend. Just imagine what your bottom line would look like if your marketing budget were 20% more effective.
That’s the power that marketing attribution, when done right, brings to the table. It’s the road to a higher marketing ROI.
Common marketing attribution models and how they’re different
The default model for attributing completed goals in most analytics tools is either the last interaction or the last non-direct interaction.
However, some multi-touch models can help you get a more holistic view of the impact of your marketing efforts.
- Last interaction model: attributes the conversion to the final interaction or referring source (campaign or ad).
- Last non-direct interaction model: attributes the conversion to the final touchpoint that was not a direct visit to your website. (For example, if a search ad took them to a product page, the user bookmarked it and returned directly the next day to finish the purchase. The credit would go to the search ad as it’s the last non-direct touchpoint.)
- First interaction model: attributes the conversion to the first referring event alone.
- Linear model: gives equal value to every touchpoint throughout the customer journey.
- Time decay model: gives more value to touchpoints the closer they were to the actual sale.
- Position-based model: gives more value to the first and last touchpoints — often 40% each, while splitting 20% among the rest.
You can read our guide dedicated to marketing attribution models for more details on these models.
Types of marketing attribution software and the impact of privacy regulations
Until recently, digital advertising was the “scientific” advertisers’ utopia. Everything could be measured, with cookies from giants like Google and Facebook stalking every user across the web.
But with the advent of regulations like GDPR and the CCPA, you can no longer blindly trust Google Analytics or the Meta Pixel without consequences.
Multi-channel attribution tools with third-party cookies and GDPR
Google, Meta, and other companies used to track and combine user data from their own platforms and websites across the web that installed their tags. These third-party cookies have long been under fire and have caused several GDPR fines.
The alternative: analytics platforms with first-party cookies
In a post-GDPR digital marketing landscape, a compliant-by-default web analytics platform like Matomo is a more reliable and accurate alternative.
Plus, with a platform like Matomo, you don’t need to rely on data from digital advertising platforms like Facebook Ads and Google Ads. You can accurately track referral sources using our campaign tracking parameters.
7 best marketing attribution software in 2024
Below is the list of our favourite marketing attribution tools in 2024. If you find and use one that suits your needs correctly, you can quickly boost your marketing performance.
1. Matomo — Accurate and easiest to set up for marketing attribution
Matomo is a privacy-friendly web analytics suite that empowers you to accurately attribute marketing efforts and gain valuable insights while prioritising user privacy and compliance.
Matomo integrates with e-commerce platforms like WooCommerce and Magenta. That makes it easy for B2C marketing teams to track the revenue impact of their campaigns.
You can also compare a variety of attribution models against each other. B2B teams can use our API to integrate Matomo with their CRM.
Pros:
- Relies on first-party cookies for tracking, ensuring accurate data collection and attribution of user actions
- Includes additional features like Heatmaps, Session Recordings, Form Analytics, A/B Testing, and more
- Easy to set up and use
- Features most common multi-touch attribution models
Cons:
- Limited to owned channels (website and e-commerce store) due to first-party cookies and data (but you can integrate other data sources through a CRM)
Pricing
The self-hosted version is free. The cloud hosted version starts at $19 per month and includes a 21-day free trial. No credit card requierd.
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Get the web insights you need, without compromising data accuracy.
2. WhatConverts — Great option for leads-based businesses with high ad spend
WhatConverts is a marketing attribution tool with a focus on lead tracking. With most web analytics setups, it adds call and text tracking to the typical form-only tracking.
Pros:
- Reliable call and text tracking
- Revenue attribution to specific leads (and, by extension, campaigns and ads)
Cons:
- Focused exclusively on leads — little utility for e-commerce companies
Pricing
The cheapest plan starts at $30/month but does not include analytics integrations or form tracking. To access this and advanced flow tracking and attribution features, you need the Elite plan, which starts at $160/month.
3. HubSpot Marketing Hub — Ideal CRM for larger B2B companies
HubSpot is a marketing CRM with attribution features for tracking and analysis.
The platform is very broad — encompassing CRM, email automation and other tools — which makes it challenging to use effectively. The price tag is also quite steep for smaller companies and marketing teams.
Pros:
- Concretely tracks revenue to multiple different touchpoints and marketing channels
- Includes several different multi-touch attribution models
- Allows offline conversion tracking
Cons:
- The price point is too high for smaller teams
- Cam be difficult to set up effectively
Pricing
Since marketing attribution is only included in HubSpot Marketing Hub’s Professional and Enterprise plans, pricing starts at $800/month (paid annually). If you commit for a year but pay monthly, the price is $890/month for the professional plan. This goes up with additional add-ons and as your contacts increase as well.
4. ActiveCampaign — Good CRM option for small B2B companies
ActiveCampaign is a CRM and marketing automation platform that can help you trace leads and revenue back to their source.
Although it has a similar scope of features to HubSpot, it is more affordable and slightly easier to use for beginners.
Pros:
- Tracks sales revenue back to specific marketing touchpoints
- Powerful marketing automation features
Cons:
- B2B companies may need to purchase two plans, one ActiveCampaign marketing and one CRM.
Pricing
Unlike HubSpot, ActiveCampaign offers a much more affordable plan, starting at $29/month billed annually (for up to 1,000 contacts). The marketing and sales CRM bundle starts at $93/month with up to five users.
5. Salesforce Data Cloud for Marketing — Ideal CRM for enterprises
Salesforce is a robust and feature-rich CRM that many enterprises rely on for their sales teams.
That makes Salesforce’s marketing attribution platform a logical choice for existing Salesforce users.
Pros:
- Uses prospect and sales data from CRM to attribute revenue
- Revenue prediction analytics
- Lead scoring to help your sales team focus on high-value leads
Cons:
- Difficult to set up and use
- Clunky and aged user interface
- Relatively high price point
Pricing
The limited Marketing Cloud Account Engagement Growth plan starts at $1,250/month, billed annually. To access advanced cross-channel journeys, you need the Pro plan, which starts at $2,750 monthly.
6. Terminus — Great for account-based marketing
If your marketing team uses an account-based marketing (ABM) approach, Terminus might be the right option for you.
It offers ABM tools like target account event tracking and revenue attribution tools for your marketing campaigns.
Pros:
- Advanced multi-channel revenue attribution tools with a wide range of reports
- Track intent touchpoints back to target accounts
- Reliable revenue predictions help you focus your marketing activities
Cons:
- Complex and difficult to set up, understand and use effectively
- Lacks native integrations with many common advertising platforms and analytics tools
Pricing
Terminus offers no standard pricing plans. You must contact their sales team for a custom quote based on your needs.
7. Adobe Analytics — An analytics for enterprises
Adobe Analytics is part of the Adobe Experience Cloud, with plenty of big data analysis tools for enterprises. Although the platform is quite powerful, it is equally complex and difficult to use. The price point is also prohibitive for many smaller companies.
Pros:
- Very extensive reporting tools
- Predictive analytics give you solid leading indicator for future campaign performance
- Track multiple digital touchpoints across the entire customer journey
Cons:
- Like Google Analytics, Adobe Analytics aggregates your visitor data by default, making compliant “consent-free tracking” — tracking user actions without asking for consent — impossible according to GDPR. (See more differences in Matomo’s comparison against Adobe Analytics and Google Analytics.)
- Prohibitively expensive for most smaller companies
- Very steep learning curve for setting up and using it correctly
Pricing
Adobe Analytics uses usage-based pricing — which means they adjust the pricing based on the traffic volume to your website. Still, their lower price points aren’t exactly SMB-friendly — multiple sources put Adobe’s lowest starting price point at $2,000–2,500 per month.
Get accurate marketing attribution with Matomo (without privacy concerns)
Matomo allows you to do marketing attribution effectively and accurately without compromising your users’ privacy. By default, we only use first-party cookies and offer consent-free tracking – meaning no more annoying cookie consent banners (excluding in Germany and the UK).
If you want to boost your marketing performance without disregarding your users’ privacy, get started with our 21-day free trial. No credit card required. It’s time to make more informed decisions about your marketing campaigns.
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21 day free trial. No credit card required.
