Performance marketing insights, discussions and expertise

Are You Drowning in Data? 3 Signs You Might Need Attribution

By on May 4, 2016

It’s 11PM, and you’re plugging data into a spreadsheet – another thankless task of consolidating your reports across multiple channels, vendors, and teams.

Are you drowning in data?  If so, attribution might be the answer.  Read on for three indicators that you might need attribution.

Your Customers Love Their Devices

79% of users own 3 (or more) devices.  And those users switch between their devices up to 27 times per hour.  If you don’t have a proper  attribution solution that includes cross-device tracking, you won’t be able to keep up.  If you found these stats surprising – and especially if you don’t have current insight into your customers’ device habits – you might need attribution in your life.

Your Customer Journey Is Growing More Complex

More than 41% of customers encounter 4 or more touchpoints, and that number is only going to grow every year.  The countless channels available today have created a complex marketing ecosystem.  This means it’s now harder than ever to determine each of channel’s unique role in your marketing mix.  If you don’t have attribution to guide you, you’ll need some serious math (and late nights) to consolidate everything.

Your Teams – and Truths – Are Siloed

Susan says “Organic search drove 2 million in revenue.”  Russel claims that “social drove 3 million”.  But the total revenue for your business is only 4 million.  Something doesn’t add up.

Does this sound familiar?  It’s not because anyone is being dishonest – it’s because siloed teams (and their reports) lead to double counting.  If you don’t have a single source of the truth, that will both consolidate these silos and apply attribution logic to each channel, you’ll find that your crediting easily becomes a mess of overlay and confusion.

 

It’s one matter to determine your performance as a whole based on all of your channels.  But if you have siloed reports and complex interactions between your channels, then you’ll be hard-pressed to identify the unique revenue of each channel, let alone the big picture.

You need a reporting system that dives deep into your data, in order to highlight every single touch point, and maintain the journey each time a user switches a device.  Even if you primarily focus on a single channel, attribution is still the only method to get the truth you’re looking for.

 

Attribution is a complex subject, and these signs are only the beginning.  Want to learn more?  Check out our Omnichannel Checklist.

 

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