Hey direct marketers – guess what – you have an attribution problem. You may not realize it yet, but if you are running campaigns in multiple digital marketing channels like search, display, affiliate marketing, and comparison shopping engines, you are double counting some conversions (sometimes triple counting), over crediting certain channels and under crediting others. Your model needs a fixin.
Attribution reporting tools have been on the market for several years now, but are potentially the most underutilized tools by agencies and advertisers today. In part this is due to the complex nature of the planning involved in making the data actionable – in other words planning to go from attribution reporting to media mix modeling based on the analysis. On the other hand, digital media planners and agencies have been working to the bone and have very little time to innovate and discover new and better ways to work and service their clients.
So when Hollis Thomases from ClickZ reached out to me for input on this important topic, I was more than happy to help. It’s a topic I am quite passionate about. I think she put together a great article that highlights the issue.
Under-utilizing great marketing technology is nothing new. As an industry we have a history of under-utilizing the capabilities of the marketing technologies that are at our fingertips. I’ll never forget when Doubleclick wanted to shut down their Boomerang product, the very first retargeting technology on the market. Our agency was one of a small handful using it, and although circa 2000 it was tough to scale retargeting programs, we managed to run some of the first successful programs for large portfolio companies like Cendant. Fast forward to today. Retargeting has not only become one of the most popular forms of behavioral / data-based targeting, but an entire retargeting industry has sprouted up in the last couple of years.
Granted, there are hundreds of marketing technologies and capabilities pitched to agencies on a regular basis. It’s hard to find the time to vet them all. But we do work in DIGITAL media and and it is important to be on the lookout for tools and systems that can help provide bottom line impact for clients and agencies. Embrace marketing technologies in particular that help create efficiency in workflow, accuracy in analytics, and provide better experiences to consumers.
I’d love to hear about any new marketing technology tools that you find useful.
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