In a world where customer journeys are increasingly complex due to proliferated channels, moving technology landscapes, increasing volumes of content and services, as well as purchases online and offline, a simple attribution model has never been enough to measure the effectiveness of marketing. Yet they are still being used by the majority of marketers.
For years, marketers have modelled engagements at campaign and channel-level, which gives a general indication of impact and ROI. But now, with tools that give you the ability to link online and offline customer journeys and access to advanced data models, marketers can accurately define the actual attribution path for each individual with a striking degree of accuracy. So why aren’t we using this approach?
Jaywing PLC (LON:JWNG) 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.
“It’s only by understanding the full picture of individual customer activity across online and offline channels, that you can work out what’s really happened as a result of your marketing activities.”
While a single touch point approach, such as “last click wins” or variants of it give you a starting point, it’s only by understanding the full picture of individual customer activity across online and offline channels, that you can work out what’s really happening as a result of your marketing activities, and decide what to do next.