The term “attribution” has been bandied about in the Marketing lexicon for years, long before there were truly effective solutions to perform it with a degree of accuracy. Fortunately the advances in marketing technologies – key among them the ability to connect and attribute customer interactions on the purchase path – are making attribution both a reality and a necessity for brand marketers.
In a recent Forrester Research, Inc. report “Innovate To Become Attribution Masters,” Customer Insights analyst and report author Tina Moffett provides marketers prescriptive recommendations for transforming attribution measurement to deliver deeper insights into marketing and media performance. The report goes a layer deeper, outlining the competencies marketers must invest in to achieve this transformation, including Data Onboarding Technologies. In the report Tina Moffett recommends, “Investing in data management platforms or other Data Onboarding Technologies, like Acxiom’s Audience Operating System, allows you to onboard deeper data, such as offline marketing activity, customer attributes, and offline purchases. This enables you to connect disparate data and further enhance your cross-channel attribution models and insights.”
Additional Insights and recommendations from the report include:
- Cross -channel attribution must grow beyond limited and lagging performance metrics to deliver real-time insights about the complex fragmented journey of the always-addressable customer
- Marketers must implement the correct technology and processes for attributing customer interactions to gain deeper insights into the customer’s path to purchase.
- Attribution as a science, skill and technology is still in early days and must evolve to deliver more actionable, richer customer insights
- Measurement must be integrated across digital, mobile and offline channels and vendors must provide better tools to enable this
- Attribution can be a powerful differentiating marketing weapon, but only if marketers invest in the resources, systems, data and customer experience that will up level attribution from mere measurement to complex analysis of customer decision making.
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