HubSpot Attribution Reporting: 3 Easy Steps

Marketing Attribution allows you to assess the Return on Investment (ROI) of your Marketing efforts. The primary goal is to understand which channels are bringing in new leads, converting customers, and why. Due to the presence of multiple touchpoints across the journey of a buyer these days, Marketing Attribution Reports can come in handy to navigate the impact of different Marketing campaigns like HubSpot Attribution Reporting.

In this article, you will get a glimpse of HubSpot Attribution Reporting to help you understand how you can use this to propel the progress of your Marketing efforts while touching upon points like the importance, types, and the actual setup of HubSpot Attribution Reporting. 

What is HubSpot Attribution Reporting?

HubSpot Attribution Reporting allows users to know about credits on different Marketing efforts at every stage. It helps in recognizing the specific activity, channel, Marketing Campaigns that are working, from where most of the traffic is coming from, what kind of product your contacts are most interested in. It also lets you know at which stage of the customer’s buyer’s journey they are consuming during these pieces.

Steps to Set up HubSpot Attribution Reporting

The HubSpot Attribution Reporting is essentially a ‘test and learn’ approach, that allows you to experiment with what works best for your data and enterprise goals. Here are the steps involved in the HubSpot Attribution Reporting Setup in 3 steps:

• Step 1: Go to HubSpot’s homepage, and navigate to “Reports Home” under the Reports section. Select the “Create custom report” option and pick the Attribution Report of your choice.

• Step 2: After the first step you are directed to an Explore tab. This is good for beginners and also serves as a good reminder for people coming back.

• Step 3: The next step in the process of setting up HubSpot Attribution Reporting is customization. Every Attribution Report has 4 main sections that allow you to customize the report as per your business requirements:

• Filters: The Filters section allows you to zero in on a part of your CRM. Say for instance, in Revenue Attribution you can look at the specific paths taken by a specific deal owner in their closed-won deals. The Content-type filter can be used to analyze different ads, emails, and web pages and study their impact on the bottom line.

• Date Filters: Choose the period you wish to analyze using Date filters. For instance, you can choose the values for the “Deal close date”.

• Style: You can change how the data is displayed by clicking on the Chart type dropdown and picking the chart of your choice to display your customer data.

• Data: Data allows you to look at the various aspects of your journeys. Here you can choose from the different available HubSpot Attribution Reporting models. These can be added or removed in real time to apply different sets of rules to different points of the Customer Journey that allows you to understand the customer interactions better. 

What are the Different Types of Attribution Models?

Attribution models distribute credit to interactions along the customer’s journey. Below, learn about the attribution models available in HubSpot and how to choose which one to use.

1. Linear Model

This model attributes the contact credits equally to each interaction in the conversion path.

Choose this model if:

• You want to assign credit to all assets that contacts interact with before they become a contact, have a deal associated with them, or have a closed deal.
• You want a holistic view of all your marketing channels’ performance.

2. U-Shaped

This model attributes 40% of the contact credits to the first interaction and lead conversion interactions each. It then attributes the remaining 20% evenly across all other interactions.

Choose this model if:

• You want to build an audience of leads to further nurture and qualify later.
• You need to generate qualified prospects at the top of your funnel.

3. W-Shaped

This model attributes 30% of the contact credits to the first interaction, 30% to the interaction that created the contact, and 30% to the last interaction that created the deal. It then attributes the remaining 10% evenly across all interactions between the first and last.

The W model is available in Deal create attribution and Revenue attribution reports. The W model requires a deal-based interaction.

Choose this model if:

• You only have a few ways to convert qualified leads into customers, but you have multiple channels for generating and nurturing leads to qualified leads.
• Your pipeline moves quickly from lead created or deal created to customer.

4. Time Decay

This model attributes contact credits more heavily to more recent interactions. Credits are distributed using a 7-day half-life. This means an interaction 8 days before a conversion gets half as much credit as an ad interaction 1 day before the same conversion.

Choose this model if:

• You’re an ecommerce business that uses seasonal or “time-boxed” campaigns where there is a known start and end date to the campaign. The most recent touchpoints should then be receiving the most credit for driving the conversion.
• You use longer sales cycles, as this model gives more credit to the most recent touchpoints which helped to accelerate the conversion.

5. Full Path

This model is available only in revenue attribution reports. This model attributes 22.5% of the deal revenue credits to the first interaction, lead creation, deal creation, and last interaction each. It then attributes the remaining 10% of the deal revenue credits to all other interactions equally (i.e., middle interactions).

Choose this model if:

• You have a large marketing and sales organization, or you have multiple marketing and sales channels to drive conversion.
• You’re equally concerned with all parts of the funnel and customer journey.
• Your marketing and sales alignment is key to driving revenue.

6. J-Shaped

This model attributes 20% of the credit to the first interaction, and 60% to the conversion. The remaining 20% is spread across other interactions in the conversion path.

Choose this model if you want to give credit to both the first interaction and converting interaction, but with more weight on the conversion.

7. Inverse J-Shaped

Attributes 60% of the credit to the first interaction, and 20% of the interaction that led to the conversion. The remaining 20% is spread across other interactions in the conversion path.

Choose this model if you want to give credit to both the first interaction and the converting interaction, but with more weight on the first interaction.

Conclusion

This article talked about setting up HubSpot Attribution Reporting after exploring the importance and the types of HubSpot Attribution Reporting. It also gives you a comprehensive roundabout of what Marketing Attribution and Marketing Attribution Reports represent before turning to what HubSpot has to offer. Extracting complex data from a diverse set of data sources can be a challenging task and this is where Hevo saves the day! Sign Up for a 14-day free trial and experience the feature-rich Hevo suite first hand.

Share your experience of learning about the HubSpot Attribution Reporting! Let us know in the comments section below!

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