Modeling helps assign value to touchpoints
Today’s digital consumer is exposed to a huge number of marketing messages via display ads, search, email, mobile, social media and other sources along the path to purchase. But until recently, many retailers mainly paid attention only to customers’ “last click”—an approach that ignores all other marketing touchpoints that lead to a transaction, according to a new eMarketer report, “Multichannel Attribution: What Retailers Need to Know.”
Now, however, some retailers are deploying complex multichannel attribution solutions, with Big Data power, to measure the performance of their marketing efforts. But the numbers are still small. According to an October 2012 survey conducted by Econsultancy and Adobe, only 26% of companies worldwide used advanced forms of marketing attribution—ones that go beyond simple last-click analysis.
However, retailers are under extreme pressure to better understand which marketing tactics are driving sales, so it is not surprising that more companies consider attribution modeling to be a priority.
A January 2013 survey by MarketingSherpa found that some 28% of marketers worldwide indicated that measuring attribution across channels is an important analytic objective in 2013.