The 2012 Digital Marketer report release is only a few weeks away and we have a lot of good information to share. If response attribution is a challenge for you here’s a preview of how to develop a strategy for success:
One of the biggest challenges facing marketers in today’s complex multi-channel world is determining which marketing programs are generating the biggest returns and which initiatives are not performing. Being successful requires a holistic and integrated approach to response attribution ¾ one that is based on a sound strategy and effective execution based on the company’s level of marketing sophistication.
Developing a strategy
Marketers need to think of three key things when contemplating response attribution and marketing cross-channel analysis:
- Measure the ecosystem, not the event. Today’s complex marketing environment means that by nature, a customer or a prospect receives multiple marketing touches during the purchase cycle. Attributing 100% of a response, or a purchase, to a single event does not tell the whole story. Measure the entire series of events that drove that customer to purchase, not just the last touch.
- Execute holdout tests. In order to truly understand the impact of withholding a marketing channel, marketers need to measure the lift that the channel provides to the marketing ecosystem. Do hold-outs and control groups consistently to make a properly informed decision.
- Don’t listen to the pundits. Every company’s data is unique. There are tons of technorati, digerati and social media elite that depict a particular marketing channel as dead or dying and being replaced by another. That statement is only true if the data says it is true. Listen to the customer and how he or she interacts with your brand, and then make an informed decision.
Pre-order The 2012 Digital Marketer report and be one of the first to receive it this April. In it we’ll continue the response attribution conversation including how to effectively execute the strategy.