Advanced Marketing Attribution – How sophisticated marketers measure and optimise the value of marketing
Advances in tech, the rise of new earned and owned media and the ever-broadening plethora of online and offline channels, have vastly increased opportunities for marketers, but it has also made it even more complex to accurately measure the true impact of marketing.
For years, marketers have modelled engagements at channel-level, which gives you a general indication of impact and ROI. Now with tools that enable you to track online user journeys, we have a better understanding of the levels of visibility and interactions with channels. But with most channels having differing reporting metrics, ranging from impressions to purchases, and a difficulty identifying who has interacted, marketers are hard-pressed to gain a general view of customer interactions, never mind a single customer view.
Our 2017 Data-Driven Marketing Research study, revealed that while 69% of marketers agreed that accurately attributing value across channels is vitally important to their organisation, nearly half (45%) said they were calculating attribution at channel-level, and the majority (82%) said they are only using a single touch point approach to attribution. With only half (51%) of marketers feeling they are using the right approach to attribution, there's definitely room for improvement.
With this 6 point checklist, you can take a sneaky peak at how sophisticated marketers truly measure and optimise the value of marketing…