The last few years have ushered in a vast wave of change for marketers. They’ve had to adapt to new consumer facing channels, contend with the rise of social media, manage the proliferation of vast quantities of data and develop strategies for leveraging sophisticated new technologies in service to the old, established “art” of marketing.
But perhaps no recent development has presented more of a challenge than attribution. For just as technology, data and new media have ushered in widespread opportunity, they’ve also complicated the task of understanding how individual promotional efforts drive customer action, rendering John Wanamaker’s 19th century adage—”I know half my advertising spend is wasted; the trouble is I don’t know which half”—more appropriate now than ever before.
Increasingly, marketers are waking up to that mandate. But rather than miring themselves in the difficulty associated with measuring performance in an “omnichannel” environment, many are coming to see attribution as a source of definitive competitive advantage—essentially, as an opportunity to empower themselves with the insight needed to both improve performance and elevate the role of the marketing function as a source of critical business insight. Ultimately, improving marketing attribution isn’t about building better reports; rather, it presents the means for:
Delivering better, more engaging customer experiences
Maximizing the yield of every dollar of marketing investment; and
Demonstrating the real value that the marketing organization delivers to its organization.
This report represents just one effort to crystallize some of the key issues facing marketers as they look to advance their attribution efforts with an eye on those critical objectives. We hope you’ll find its conclusions useful, and we look forward to engaging with many of you in the effort to advance the cause of attribution—and the empowerment of marketers everywhere.