By Maher Beaini on February 20, 2018
Video, display, TV, radio, mobile, social, and more — consumers are exposed to messages from your integrated marketing campaigns across a wide range of channels and devices. But in the end, consumers think about the brand and its products, not the channels or devices — and they make purchase decisions from experiencing your campaigns as a whole.
Consumers don’t think in channels or siloes, but for better or worse, marketers often do. And reports and dashboards are frequently set up in this manner resulting in an optimization of the parts over the whole. This often leaves big opportunities on the table for you to understand and capitalize on your consumer’s path to purchase. Having a single source of marketing truth can help solve for this.
But how? You can deploy a massive bundle of tracking pixels. But this only works for some channels, not all. Plus, this undertaking can be time-consuming and needs to be managed across innumerable stakeholders. On top of that, the data collected would have to be processed, cleaned, and reconciled — yet another monumental effort.
A much more efficient and holistic tactic is to implement a single system of record (SoR). A SoR sits across all your marketing efforts – online and offline – tying together diverse, yet complimentary touchpoints into a coherent customer journey. It’s a system that is scalable, flexible and capable to meet a marketing department’s needs in real time.
Imagine this: Data is pulled in from across more than two dozen paid, earned, or owned marketing sources; it’s fully cleansed and aggregated. Then, omni-channel machine learning attribution runs on top of your cleansed marketing data, and appropriately tracks lift, fractional revenue, and ROI crediting are distributed across all channels. These revenue metrics are then fed into your financial KPIs, such as revenue lift and return on investment. The result: Each channel, campaign, and marketing initiative is assigned its true reflection of the incremental value it has delivered.
A proper system of record contributes to marketers’ understanding of the entire customer journey and enables better decision making. It offers insight into which touchpoints are truly delivering incremental lift to your brand’s sales, and justifies (and quantifies) the importance of all your marketing and media choices. A system of record goes a step further by generating “crediting metrics” that can be fed into your KPIs, offering a far more precise measurement of return on ad spend (ROAS) and return on investment (ROI). Suddenly, you understand and act on your campaigns in a similar way as to how consumers experience brands: holistically, not by individual channel or device.
Discover how Impact Radius’ Media Manager unifies and enlightens your view of the customer journey in all new ways—download Four Ways You Win with a System of Record to learn more.