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BizReport : Advertising archives : April 09, 2018

Expert: Why marketers need more than attribution

Attribution continues to be an important part of marketers' strategy, but according to one expert, attribution alone isn't the answer. Here is how marketers can make attribution part of a strategy without losing other key marketing data.

by Kristina Knight

Kristina: For the past couple of years, attribution has been a big buzzword for digital marketers. Yet you believe attribution is in the past - why is that?

Sam Mylrea,CEO, PureCars: Attribution in 2018 is still very much essential to maintaining a marketers' budget, but the key difference marketers need to understand is that they can no longer rely on those data sets alone. In order to focus on the buyer touchpoints that need the most attention, marketers need to think beyond basic attribution and find an easy, actionable and insightful way to make use of all that data. It's no longer about obtaining the necessary data, but using it to improve processes, points of focus and ultimately increasing ROI.

Kristina: Rather than attribution, what data sets should marketers be mobilizing now?

Sam: Marketers should still be focusing on attribution, but getting more specific about how they use those specific data sets. The insights obtained from attribution should prove to marketers where their leads are coming from and where they can improve. By using this information to strategize accordingly, marketers will start to see drastic improvements in both their online and offline advertising efforts.

Kristina: Explain how touchpoints can give marketers a better sense of their customers?

Sam: Focusing on each touchpoint in the buyer journey gives marketers key insights not only into what their customers want, but provides a holistic view of what's driving leads and conversions overall. More specifically, the individualized data attribution provides about specific buyers allows marketers to personalize their efforts and get a sense of the actual people behind the insights.

Kristina: How can marketers go about focusing in on these touchpoints?

Sam: Marketers need to pay close attention to the insights attribution provides and tailor their efforts for each touchpoint accordingly. For example, if retargeting ads are proving success in driving conversions, but they are getting the least amount of the budget, it's time to reevaluate that strategy.

Kristina: Can attribution still work as part of an overall, holistic data-focused strategy?

Sam: Attribution is absolutely essential in maximizing budgets and figuring out which marketing tactics are resonating with customers, and which ones aren't. If marketers aren't focusing on attribution, they have no way to know where they should be spending their ad dollars, resulting in wasted time and money.

Tags: adverting data, advertising, advertising attribution, customer attribution, customer data, ecommerce attribution, PureCars

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