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• 7 Fintech Marketing Strategies to Maximise Profits in 2024

  24 juillet 2024, par Erin

  Fintech investment skyrocketed in 2021, but funding tanked in the following two years. A -63% decline in fintech investment in 2023 saw the worst year in funding since 2017. Luckily, the correction quickly floored, and the fintech industry will recover in 2024, but companies will have to work much harder to secure funds.

  F-Prime’s The 2024 State of Fintech Report called 2023 the year of “regulation on, risk off” amid market pressures and regulatory scrutiny. Funding is rising again, but investors want regulatory compliance and stronger growth performance from fintech ventures.

  Here are seven fintech marketing strategies to generate the growth investors seek in 2024.

  Top fintech marketing challenges in 2024

  Following the worst global investment run since 2017 in 2023, fintech marketers need to readjust their goals to adapt to the current market challenges. The fintech honeymoon is over for Wall Street with regulator scrutiny, closures, and a distinct lack of profitability giving investors cold feet.

  Here are the biggest challenges fintech marketers face in 2024 :

  • Market correction : With fewer rounds and longer times between them, securing funds is a major challenge for fintech businesses. F-Prime’s The 2024 State of Fintech Report warns of “a high probability of significant shutdowns in 2024 and 2025,” highlighting the importance of allocating resources and budgets effectively.
  • Contraction : Aside from VC funding decreasing by 64% in 2023, the payments category now attracts a large majority of fintech investment, meaning there’s a smaller share from a smaller pot to go around for everyone else.
  • Competition : The biggest names in finance have navigated heavy disruption from startups and, for the most part, emerged stronger than ever. Meanwhile, fintech is no longer Wall Street’s hottest commodity as investors turn their attention to AI.
  • Regulations : Regulatory scrutiny of fintech intensified in 2023 – particularly in the US – contributing to the “regulation on, risk off” summary of F-Prime’s report.
  • Investor scrutiny : With market and industry challenges intensifying, investors are putting their money behind “safer” ventures that demonstrate real, sustainable profitability, not short-term growth.
  • Customer loyalty : Even in traditional baking and finance, switching is surging as customers seek providers who better meet their needs. To achieve the sustainable growth investors are looking for, fintech startups need to know their ideal customer profile (ICP), tailor their products/services and fintech marketing campaigns to them, and retain them throughout the customer lifecycle.

  

  The good news for fintech marketers is that the market correction is leveling out in 2024. In The 2024 State of Fintech Report, F-Prime says that “heading into 2024, we see the fintech market amid a rebound,” while McKinsey expects fintech revenue to grow “almost three times faster than those in the traditional banking sector between 2023 and 2028.”

  Winning back investor confidence won’t be easy, though. F-Prime acknowledges that investors are prioritising high-performance fintech ventures, particularly those with high gross margins. Fintech marketers need to abandon the growth-at-all-costs mindset and switch to a data-driven optimisation, growth and revenue system.

  7 fintech marketing strategies

  Given the current state of the fintech industry and relatively low levels of investor confidence, fintech marketers’ priority is building a new culture of sustainable profit. This starts with rethinking priorities and switching up the marketing goals to reflect longer-term ambitions.

  So, here are the fintech marketing strategies that matter most in 2024.

  1. Optimise for profitability over growth at all costs

  To progress from the growth-at-all-cost mindset, fintech marketers need to optimise for different KPIs. Instead of flexing metrics like customer growth rate, fintech companies need to take a more balanced approach to measuring sustainable profitability.

  This means holding on to existing customers – and maximising their value – while they acquire new customers. It also means that, instead of trying to make everyone a target customer, you concentrate on targeting the most valuable prospects, even if it results in a smaller overall user base.

  Optimising for profitability starts with putting vanity metrics in their place and pinpointing the KPIs that represent valuable business growth :

  • Gross profit margin
  • Revenue growth rate
  • Cash flow
  • Monthly active user growth (qualify “active” as completing a transaction)
  • Customer acquisition cost
  • Customer retention rate
  • Customer lifetime value
  • Avg. revenue per user
  • Avg. transactions per month
  • Avg. transaction value

  With a more focused acquisition strategy, you can feed these insights into every company level. For example, you can prioritise customer engagement, revenue, retention, and customer service in product development and customer experience (CX).

  To ensure all marketing efforts are pulling towards these KPIs, you need an attribution system that accurately measures the contribution of each channel.

  Marketing attribution (aka multi-touch attribution) should be used to measure every touchpoint in the customer journey and accurately credit them for driving revenue. This helps you allocate the correct budget to the channels and campaigns, adding real value to the business (e.g., social media marketing vs content marketing).

  Example : Mastercard helps a digital bank acquire 10 million high-value customers

  For example, Mastercard helped a digital bank in Latin America achieve sustainable growth beyond customer acquisition. The fintech company wanted to increase revenue through targeted acquisition and profitable engagement metrics.

  Strategies included :

  • A more targeted acquisition strategy for high-value customers
  • Increasing avg. spend per customer
  • Reducing acquisition cost
  • Customer retention

  As a result, Mastercard’s advisors helped this fintech company acquire 10 million new customers in two years. More importantly, they increased customer spending by 28% while reducing acquisition costs by 13%, creating a more sustainable and profitable growth model.

  2. Use web and app analytics to remotivate users before they disengage

  Engagement is the key to customer retention and lifetime value. To prevent valuable customers from disengaging, you need to intervene when they show early signs of losing interest, but they’re still receptive to your incentivisation tactics (promotions, rewards, milestones, etc.).

  By integrating web and app analytics, you can identify churn patterns and pinpoint the sequences of actions that lead to disengaging. For example, you might determine that customers who only log in once a month, engage with one dashboard, or drop below a certain transaction rate are at high risk for churn.

  Using a tool like Matomo for web and app analytics, you can detect these early signs of disengagement. Once you identify your churn risks, you can create triggers to automatically fire re-engagement campaigns. You can also use CRM and session data to personalize campaigns to directly address the cause of disengagement, e.g., valuable content or incentives to increase transaction rates.

  Example : Dynamic Yield fintech re-engagement case study

  In this Dynamic Yield case study, one leading fintech company uses customer spending patterns to identify those most likely to disengage. The company set up automated campaigns with personalised in-app messaging, offering time-bound incentives to increase transaction rates.

  

  With fully automated re-engagement campaigns, this fintech company increased customer retention through valuable engagement and revenue-driving actions.

  3. Identify the path your most valuable customers take

  Why optimise web experiences for everyone when you can tailor the online journey for your most valuable customers ? Use customer segmentation to identify the shared interests and habits of your most valuable customers. You can learn a lot about customers based on where the pages they visit and the content they engage with before taking action.

  Use these insights to optimise funnels that motivate prospects displaying the same customer behaviours as your most valuable customers.

  Get 20-40% more data with Matomo

  One of the biggest issues with Google Analytics and many similar tools is that they produce inaccurate data due to data sampling. Once you collect a certain amount of data, Google reports estimates instead of giving you complete, accurate insights.

  This means you could be basing important business decisions on inaccurate data. Furthermore, when investors are nervous about the uncertainty surrounding fintech, the last thing they want is inaccurate data.

  Matomo is the reliable, accurate alternative to Google Analytics that uses no data sampling whatsoever. You get 100% access to your web analytics data, so you can base every decision on reliable insights. With Matomo, you can access between 20% and 40% more data compared to Google Analytics.

  

  With Matomo, you can confidently unlock the full picture of your marketing efforts and give potential investors insights they can trust.

  Try Matomo for Free

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  4. Reduce onboarding dropouts with marketing automation

  Onboarding dropouts kill your chance of getting any return on your customer acquisition cost. You also miss out on developing a long-term relationship with users who fail to complete the onboarding process – a hit on immediate ROI and, potentially, long-term profits.

  The onboarding process also defines the first impression for customers and sets a precedent for their ongoing experience.

  An engaging onboarding experience converts more potential customers into active users and sets them up for repeat engagement and valuable actions.

  Example : Maxio reduces onboarding time by 30% with GUIDEcx

  Onboarding optimisation specialists, GUIDEcx helped Maxio cut six weeks off their onboarding times – a 30% reduction.

  

  With a shorter onboarding schedule, more customers are committing to close the deal during kick-off calls. Meanwhile, by increasing automated tasks by 20%, the company has unlocked a 40% increase in capacity, allowing it to handle more customers at any given time and multiplying its capacity to generate revenue.

  5. Increase the value in TTFV with personalisation

  Time to first value (TTFV) is a key metric for onboarding optimisation, but some actions are more valuable than others. By personalising the experience for new users, you can increase the value of their first action, increasing motivation to continue using your fintech product/service.

  The onboarding process is an opportunity to learn more about new customers and deliver the most rewarding user experience for their particular needs.

  Example : Betterment helps users put their money to work right away

  Betterment has implemented a quick, personalised onboarding system instead of the typical email signup process. The app wants to help new customers put their money to work right away, optimising for the first transaction during onboarding itself.

  

  It personalises the experience by prompting new users to choose their goals, set up the right account for them, and select the best portfolio to achieve their goals. They can complete their first investment within a matter of minutes and professional financial advice is only ever a click away.

  Optimise account signups with Matomo

  If you want to create and optimise a signup process like Betterment, you need an analytics system with a complete conversion rate optimisation (CRO) toolkit. 

  

  Matomo includes all the CRO features you need to optimise user experience and increase signups. With heatmaps, session recordings, form analytics, and A/B testing, you can make data-driven decisions with confidence.

  Try Matomo for Free

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  6. Use gamification to drive product engagement

  Gamification can create a more engaging experience and increase motivation for customers to continue using a product. The key is to reward valuable actions, engagement time, goal completions, and the small objectives that build up to bigger achievements.

  Gamification is most effective when used to help individuals achieve goals they’ve set for themselves, rather than the goals of others (e.g., an employer). This helps explain why it’s so valuable to fintech experience and how to implement effective gamification into products and services.

  Example : Credit Karma gamifies personal finance

  Credit Karma helps users improve their credit and build their net worth, subtly gamifying the entire experience.

  

  Users can set their financial goals and link all of their accounts to keep track of their assets in one place. The app helps users “see your wealth grow” with assets, debts, and investments all contributing to their next wealth as one easy-to-track figure.

  

  7. Personalise loyalty programs for retention and CLV

  Loyalty programs tap into similar psychology as gamification to motivate and reward engagement. Typically, the key difference is that – rather than earning rewards for themselves – you directly reward customers for their long-term loyalty.

  That being said, you can implement elements of gamification and personalisation into loyalty programs, too. 

  Example : Bank of America’s Preferred Rewards

  Bank of America’s Preferred Rewards program implements a tiered rewards system that rewards customers for their combined spending, saving, and borrowing activity.

  

  The program incentivises all customer activity with the bank and amplifies the rewards for its most active customers. Customers can also set personal finance goals (e.g., saving for retirement) to see which rewards benefit them the most.

  Conclusion

  Fintech marketing needs to catch up with the new priorities of investors in 2024. The pre-pandemic buzz is over, and investors remain cautious as regulatory scrutiny intensifies, security breaches mount up, and the market limps back into recovery.

  To win investor and consumer trust, fintech companies need to drop the growth-at-all-costs mindset and switch to a marketing philosophy of long-term profitability. This is what investors want in an unstable market, and it’s certainly what customers want from a company that handles their money.

  Unlock the full picture of your marketing efforts with Matomo’s robust features and accurate reporting. Trusted by over 1 million websites, Matomo is chosen for its compliance, accuracy, and powerful features that drive actionable insights and improve decision-making.

   Start your free 21-day trial now. No credit card required.

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• A Guide to Ethical Web Analytics in 2024

  17 juin 2024, par Erin

  User data is more valuable and sought after than ever. 

  Ninety-four percent of respondents in Cisco’s Data Privacy Benchmark Study said their customers wouldn’t buy from them if their data weren’t protected, with 95% saying privacy was a business imperative. 

  Unfortunately, the data collection practices of most businesses are far from acceptable and often put their customers’ privacy at risk. 

  But it doesn’t have to be this way. You can ethically collect valuable and insightful customer data—you just need the right tools.

  In this article, we show you what an ethical web analytics solution can look like, why Google Analytics is a problem and how you can collect data without risking your customers’ privacy.

  What is ethical web analytics ?

  Ethical web analytics put user privacy first. These platforms prioritise privacy and transparency by only collecting necessary data, avoiding implicit user identification and openly communicating data practices and tracking methods. 

  Ethical tools adhere to data protection laws like GDPR as standard (meaning businesses using these tools never have to worry about fines or disruptions). In other words, ethical web analytics refrain from exploiting and profiting from user behaviour and data. 

  Unfortunately, most traditional data solutions collect as much data as possible without users’ knowledge or consent.

  Why does digital privacy matter ?

  Digital privacy matters because companies have repeatedly proven they will collect and use data for financial gain. It also presents security risks. Unsecured user data can lead to identity theft, cyberattacks and harassment. 

  Big tech companies like Google and Meta are often to blame for all this. These companies collect millions of user data points — like age, gender, income, political beliefs and location. Worse still, they share this information with interested third parties.

  After public outrage over data breaches and other privacy scandals, consumers are taking active steps to disallow tracking where possible. IAPP’s Privacy and Consumer Trust Report finds that 68% of consumers across 19 countries are somewhat or very concerned about their digital privacy. 

  There’s no way around it : companies of all sizes and shapes need to consider how they handle and protect customers’ private information. 

  Why should you use an ethical web analytics tool ?

  When companies use ethical web analytics tools they can build customer trust, boost their brand reputation, improve data security practices and future proof their website tracking solution. 

  Boost brand reputation

  The fallout from a data privacy scandal can be severe. 

  Just look at what happened to Facebook during the Cambridge Analytica data scandal. The eponymous consulting firm harvested 50 million Facebook profiles and used that information to target people with political messages. Due to the instant public backlash, Facebook’s stock tanked, and use of the “delete Facebook” hashtag increased by 423% in the following days.

  That’s because consumers care about data privacy, according to Deloitte’s Connected Consumer Study :

  • Almost 90 percent agree they should be able to view and delete data companies collect 
  • 77 percent want the government to introduce stricter regulations
  • Half feel the benefits they get from online services outweigh data privacy concerns.

  If you can prove you buck the trend by collecting data using ethical methods, it can boost your brand’s reputation. 

  Build trust with customers

  At the same time, collecting data in an ethical way can help you build customer trust. You’ll go a long way to changing consumer perceptions, too. Almost half of consumers don’t like sharing data, and 57% believe companies sell their data. 

  This additional trust should generate a positive ROI for your business. According to Cisco’s Data Privacy Benchmark Study, the average company gains $180 for every $100 they invest in privacy. 

  Improve data security

  According to IBM’s Cost of a Data Breach report, the average cost of a data breach is nearly $4.5 million. This kind of scenario becomes much less likely when you use an ethical tool that collects less data overall and anonymises the data you do collect. 

  Futureproof your web analytics solution

  The obvious risk of not complying with privacy regulations is a fine — which can be up to €20 million, or 4% of worldwide annual revenue in the case of GDPR.

  It’s not just fines and penalties you risk if you fail to comply with privacy regulations like GDPR. For some companies, especially larger ones, the biggest risk of non-compliance with privacy regulations is the potential sudden need to abandon Google Analytics and switch to an ethical alternative.

  If Data Protection Authorities ban Google Analytics again, as has happened in Austria, France, and other countries, businesses will be forced to drop everything and make an immediate transition to a compliant web analytics solution.

  When an organisation’s entire marketing operation relies on data, migrating to a new solution can be incredibly painful and time-consuming. So, the sooner you switch to an ethical tool, the less of a headache the process will be. 

  The problem with Google Analytics

  Google Analytics (GA) is the most popular analytics platform in the world, but it’s a world away from being an ethical tool. Here’s why :

  You don’t have data ownership

  Google Analytics is attractive to businesses of all sizes because of its price. Everyone loves getting something for free, but there’s still a cost — your and your customers’ data.

  That’s because Google combines the data you collect with information from the millions of other websites it tracks to inform its advertising efforts. It may also use your data to train large language models like Gemini. 

  It has a rocky history with GDPR laws

  Google and EU regulators haven’t always got along. For example, the German Data Protection Authority is investigating 200,000 pending cases against websites using GA. The platform has also been banned and added back to the EU-US Data Privacy Framework several times over the past few years. 

  You can use GA to collect data about EU customers right now, but there’s no guarantee you’ll be able to do so in the future. 

  It requires a specific setup to remain compliant

  While you can currently use GA in a GDPR-compliant way — owing to its inclusion in the EU-US Data Privacy Framework — you have to set it up in a very specific way. That’s because the platform’s compliance depends on what data you collect, how you inform users and the level of consent you acquire. You’ll still need to include an extensive privacy policy on your website. 

  What does ethical web analytics look like ?

  An ethical web analytics solution should put user privacy first, ensure compliance with regulations like GDPR, give businesses 100% control of the data they collect and be completely transparent about data collection and storage practices. 

  

  100% data ownership

  You don’t fully control customer data when you use Google Analytics. The search giant uses your data for its own advertising purposes and may also use it to train large language models like Gemini. 

  When you choose an ethical web analytics alternative like Matomo, you can ensure you completely own your data.

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  Respects user privacy

  It’s possible to track and measure user behaviour without collecting personally identifiable information (PII). Just look at the ethical web analytics tools we’ve reviewed below. 

  These platforms respect user privacy and conform to strict privacy regulations like GDPR, CCPA and HIPAA by incorporating some or all of the following features :

  • Opt-out mechanisms to let users refuse tracking
  • IP addresses anonymisation and other data anonymisation techniques
  • DoNotTrack options
  • Shorter expiration dates for tracking cookies

  In Matomo’s case, it’s all of the above. Better still, you can check our privacy credentials yourself. Our software’s source code is open source on GitHub and accessible to anyone at any time. 

  Compliant with government regulations

  While Google’s history with data regulations is tumultuous, an ethical web analytics platform should follow even the strictest privacy laws, including GDPR, HIPAA, CCPA, LGPD and PECR.

  But why stop there ? Matomo has been approved by the French Data Protection Authority (CNIL) as one of the few web analytics tools that French sites can use to collect data without tracking consent. So you don’t need an annoying consent banner popping up on your website anymore. 

  Try Matomo for Free

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  Complete transparency 

  Ethical web analytics tools will be upfront about their data collection practices, whether that’s in the U.S., EU, or on your own private servers. Look for a solution that refrains from collecting personally identifiable information, shows where data is stored, and lets you alter tracking methods to increase privacy even further. 

  Some solutions, like Matomo, will increase transparency further by providing open source software. Anyone can find our source code on GitHub to see exactly how our platform tracks and stores user data. This means our code is regularly examined and reviewed by a community of developers, making it more secure, too.

  Ethical web analytics solutions

  There are several options for an ethical web analytics tool. We list three of the best providers below. 

  Matomo

  Matomo is an open source web analytics tool and privacy-focused Google Analytics alternative used by over one million sites globally. 

  

  Matomo is fully compliant with prominent global privacy regulations like GDPR, CCPA and HIPAA, meaning you never have to worry about collecting consent when tracking user behaviour. 

  The data you collect is completely accurate since Matomo doesn’t use data sampling and is 100% yours. We don’t share data with third parties but can prove it. Our product source code is publicly available on GitHub. As a community-led project, you can download and install it yourself for free. 

  With Matomo, you get a full range of web analytics capabilities and behavioural analytics. That includes your standard metrics (think visitors, traffic sources, bounce rates, etc.), advanced features to analyse user behaviour like A/B Testing, Form Analytics, Heatmaps and Session Recordings. 

  Migrating to Matomo is easy. You can even import historical Google Analytics data to generate meaningful insights immediately. 

  Try Matomo for Free

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  Fathom

  Fathom Analytics is a lightweight privacy-focused analytics solution that launched in 2018. It aims to be an easy-to-use Google Analytics alternative that doesn’t compromise privacy. 

  

  Like Matomo, Fathom complies with all major privacy regulations, including GDPR and CCPA. It also provides 100% accurate, unsampled reports and doesn’t share your data with third parties. 

  While Fathom provides fairly comprehensive analytics reports, it doesn’t have some of Matomo’s more advanced features. That includes e-commerce tracking, heatmaps, session recordings, and more. 

  Plausible

  Plausible Analytics is another open source Google Analytics alternative that was built and hosted in the EU. 

  

  Launched in 2019, Plausible is a newer player in the privacy-focused analytics market. Still, its ultra-lightweight script makes it an attractive option for organisations that prioritise speed over everything else. 

  Like Matomo and Fathom, Plausible is GDPR and CCPA-compliant by design. Nor is there any cap on the amount of data you collect or any debate over whether the data is accurate (Plausible doesn’t use data sampling) or who owns the data (you do). 

  Matomo makes it easy to migrate to an ethical web analytics alternative

  There’s no reason to put your users’ privacy at risk, especially when there are so many benefits to choosing an ethical tool. Whether you want to avoid fines, build trust with your customers, or simply know you’re doing the right thing, choosing a privacy-focused, ethical solution like Matomo is taking a massive step in the right direction. 

  Making the switch is easy, too. Matomo is one of the few options that lets you import historical Google Analytics data, so starting from scratch is unnecessary. 

  Get started today by trying Matomo for free for 21-days. No credit card required. 

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• B2B Marketing Attribution Guide : How to Master It in 2024

  21 mai 2024, par Erin

  The last thing you want is to invest your advertising dollars in channels, campaigns and ads that don’t work. But B2B marketing attribution — figuring out which marketing efforts drive revenue — is far from easy.

  With longer sales funnels and multiple people from the same company involved in the same sales process, B2B (business-to-business) is a different ballgame from B2C (business-to-consumer) marketing.

  In this guide, we break down what B2B marketing attribution is, how it’s different, which tools you can use to set it up and the best practices.

  What is B2B marketing attribution ?

  Marketing attribution in B2B companies is about figuring out where your high-value leads come from — nailing down long customer journeys across many different touchpoints.

  

  The goal is to determine which campaigns and content contributed to various parts of the customer journey. It’s a complex process that needs a reliable, privacy-focused web analytics tool and a CRM that integrates with it.

  This process significantly differs from traditional marketing attribution, where you focus more on short sales cycles from individual customers. With multiple contributing decision makers, B2B attribution requires more robust systems.

  What makes marketing attribution different for B2B ?

  The key differences between B2B and B2C marketing attribution are a longer sales funnel and more people involved in the sales process.

  The B2B sales funnel is significantly longer and more complex

  The typical B2C sales funnel is often broken down into four simple stages :

  1. Awareness : when a prospect first finds out about your product or brand
  2. Interest : where a prospect starts to learn about the benefits of your product
  3. Desire : when a prospect understands that they need your product
  4. Action : the actual process of closing the sale

  Even the most simplified B2B sales funnel includes several key stages.

  

  Here’s a brief overview of each :

  1. Awareness : Buyers recognise they have a problem and start looking for solutions. Stand out with blog posts, social media updates, ebooks and whitepapers.
  2. Consideration : Buyers are aware of your company and are comparing options. Provide product demos, webinars and case studies to address their concerns and build trust.
  3. Conversion : Buyers have chosen your product or company. Offer live demos, customer service, case studies and testimonials to finalise the purchase.
  4. Loyalty : Buyers have made a purchase and are now customers. Nurture relationships with thank you emails, follow-ups, how-tos, reward programs and surveys to encourage repeat business.
  5. Advocacy : Loyal customers become advocates, promoting your brand to others. Encourage this with surveys, testimonial requests and a referral program.

  A longer sales cycle typically involves not only more touchpoints but also extended decision-making processes.

  More teams are involved in the marketing and sales process

  The last differentiation in B2B attribution is the number of people involved. Instead of clear-cut sales and marketing teams, revenue teams are becoming more common.

  They include all go-to-market teams like sales, marketing, customer success and customer support. In B2B sales, long-term customer relationships can be incredibly valuable. As such, the focus shifts away from new customer acquisition alone.

  For example, you can also track and optimise your onboarding process. Marketing gets involved in post-sale efforts to boost loyalty. Sales reps follow up with customer success to get new sales angles and insights. Customer support insights drive future product development.

  Everyone works together to meet high-level company goals.

  The next section will explore how to set up an attribution system.

  How to find the right mix of B2B marketing attribution tools

  For most B2B marketing teams, the main struggle with attribution is not with the strategy but with creating a reliable system that gives them the data points they need to implement that strategy.

  We’ll outline one approach you can take to achieve this without a million-dollar budget or internal data science team.

  Use website analytics to track touchpoints

  The first thing you want to do is install a reliable website analytics solution on your website. 

  Once you’ve got your analytics in place, use campaign tracking parameters to track touchpoints from external campaigns like email newsletters, social media ads, review sites (like Capterra) and third-party partner campaigns.

  This way, you get a clear picture of which sources are driving traffic and conversions, helping you improve your marketing strategies.

  With analytics installed, you can track the referring sources of visits, engagement and conversion events. A robust solution like Matomo tracks everything from traffic sources, marketing attribution and visitor counts to behavioural analytics, like clicks, scrolling patterns and form interactions on your site.

  Marketing attribution will give you a cohesive view of which traffic sources and campaigns drive conversions and revenue over long periods. With Matomo’s marketing attribution feature, you can even use different marketing attribution models to compare results :

  

  For example, in a single report, you can compare the last interaction, first interaction and linear (three common marketing attribution models). 

  In total, Matomo has 6 available attribution models to choose from :

  1. First interaction
  2. Last interaction
  3. Last non-direct 
  4. Linear
  5. Position based
  6. Time decay 

  These additional attribution models are crucial for B2B sites. While other web analytics solutions often limit to last-click attribution, this model isn’t optimal for B2B with extended sales cycles.

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  Use a CRM to integrate customer data from multiple sources

  Use your CRM software to integrate customer data from multiple sources. This will give you the ability to get meaningful B2B marketing insights. For example, you can get company-level insights so you can view conversion information by company, not just by person.

  Done effectively, you can close the loop back to analytics data by integrating data from multiple teams and platforms. 

  Implement self-reported attribution

  To further enhance the data, add qualifying questions in the lead signup process to create a hybrid attribution model. This is also known as self-reported attribution.

  

  Your web analytics platform won’t always be able to track the source of certain visits — for instance, “dark social” or peer-to-peer sharing, where links are shared privately and are not easily traceable by analytics tools.

  Doing self-reported attribution is crucial for getting a holistic image of your customer journey. 

  However, self-reported attribution isn’t foolproof ; users may click randomly or inaccurately recall where they first heard about you. So it’s essential to blend this data with your analytics to gain a more accurate understanding.

  Best practices for handling B2B prospect data in a privacy-sensitive world 

  Lastly, it’s important to respect your prospects’ privacy and comply with privacy regulations when conducting B2B marketing attribution.

  Privacy regulations and their enforcement are rapidly gaining momentum around the globe. Meta recently received a record GDPR fine of €1.2 billion for insufficient privacy measures when handling user data by the Irish Data Protection Agency.

  If you don’t want to risk major fines (or customers feeling betrayed), you shouldn’t follow in the same footsteps.

  Switch to a privacy-friendly web analytics

  Instead of using a controversial solution like Google Analytics, use a privacy-friendly web analytics solution like Matomo, Fathom or Plausible. 

  These alternatives not only ensure compliance with regulations like GDPR but also provide peace of mind amid the uncertain relationship between Google and GDPR. Google Analytics has faced bans in recent years, raising concerns about the future of the solution.

  While organisations governed by GDPR can currently use Google Analytics, there’s no guarantee of its continued availability.

  Make the switch to privacy-friendly web analytics to avoid potential fines and disruptive rulings that could force you to change platforms urgently. Such disruptions can be catastrophic for marketing teams heavily reliant on web analytics for tracking campaigns, business goals and marketing efforts.

  Improve your B2B marketing attribution with Matomo

  Matomo’s privacy-by-design architecture makes it the perfect analytics platform for the modern B2B marketer. Matomo enables you to meet even the strictest privacy regulations.

  At the same time, through campaign tracking URLs, marketing attribution, integrations and our API, you can track the results of various marketing channels and campaigns effectively. We help you understand the impact of each dollar of your marketing budget. 

  If you want a competitive edge over other B2B companies, try Matomo for free for 21 days. No credit card required.

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