Revenue attribution connects data from various sources to determine which of your marketing efforts are contributing the most to your overall revenue figures. In other words, it’s a process that assigns value to the various facets of your marketing efforts based on their relative influence on conversions and, consequently, your revenue.
With revenue attribution, marketing teams can more easily connect purchases to the various elements that make up their wider marketing efforts—for example, X amount of sales came from Instagram ads which led to $Y in revenue at a customer acquisition cost of $Z. This is often referred to as a Marketing Qualified Lead, or MQL.
The key outcome of revenue attribution is finding out which marketing channels drive the most conversions. This enables marketing and sales teams to make more informed decisions about where to invest their resources for the best returns.