Acting on attribution insights still a struggle for 70% of marketers – report
Marketing attribution is now used by 81% of organisations but a majority of marketers are still struggling to act on insights.
Defining the online customer journey and attracting staff with the right skills are two of the biggest attribution challenges for marketers, according to AdRoll’s global ‘2017 State of Marketing Attribution’ report.
Better allocation of budget across channels’ was the number one benefit motivating marketers to use attribution, with 70% of survey respondents agreeing, followed by ‘better understanding how digital channels work together’ (64%).
Single click attribution models are still most common, with 44% of brand direct marketers using last-click, 39% using first-click. When it comes to agency clients, 58% use last-click and 33% use first click.
Attribution, says Shane Murphy, AdRoll marketing VP “has huge consequences such as lost revenue and wasted ad budget if not done properly.”
“Marketers are being held to higher standards of measurement and accountability than ever before, and attribution models have the ability to show the true impact our discipline has on the bottom line of a business,” he says.
In Australia, 87% of respondents carry out some sort of attribution, with 34% of them using it on the majority of campaigns and analysing the results.
Based on its findings, the report also offers a 10-step guide to implementing attribution:
- start with a clear strategy and set of objectives,
- get internal buy-in for attribution,
- build a strong business case to make the necessary investment,
- focus on defining the customer journey,
- focus on physical as well as digital touchpoints,
- make sure data sets are as clean and accurate as possible,
- invest in technology that gives you the required flexibility,
- try different models that align with your business goals.
- use a test-and-learn approach, and
- focus on recruitment and training.
“Knowledge and confidence surrounding the use of various methods could prove to be a stumbling block” to maximising business outcomes through attribution, says Econsultancy head of commercial research services Monica Savut.
“Companies need to take a more holistic and nuanced approach to attribution, constantly adjusting and refining until the correct balance is achieved,” she says.
Conducted in partnership with Econsultancy, the report was developed after surveying 1000 brand marketers and agencies across Asia-Pacific, North America, Europe and Japan.