At the inaugural Wpromote Challenger Summit, I shared some thoughts on the current state of attribution, the challenges facing our industry & migration from rules-based to data-driven model development.
I love when I have the opportunity to share this particular deck with new audiences. In particular, I've found that many marketing leaders seem to have this aversion of the leap of faith that is required to move from a single touch-point view of attribution (typically last-click) to a multi-touch model. This idea has been perpetuated by marketers for years, in part, because it's "easy" to prove accuracy and it's consistent which is valuable for decision making.
With the increased complexity of modern marketing campaigns with multiple touchpoints across platforms and improvements in people-based marketing technology, marketing leaders need to be actively embracing the future of attribution. Consumer journeys are only going to get more complicated, and it's imperative that organizations begin building their data management foundation today in order to be competitive tomorrow.
Slideshare: Attribution - Not A 4-Letter Word
Key Takeaways
The Data-Driven Revolution
Rules-based models are inherently biased and fundamentally drive poor marketing decision making. The future of measurement is one that needs to focus on generating actionable insights that drive intelligent campaign optimizations. By leveraging a data-driven model, weights given to different marketing touchpoints can vary across all users based on a specific user's journey.
Unifying The Customer Journey Across Channels
The biggest challenge of them all - unifying user touchpoints across platforms including Google & Facebook to form a complete understanding of path to purchase will continue to be a challenge for marketers. As marketers we must continue to push Google & Facebook to allow for data interoperability to accurately understand buyer journeys from awareness through to acquisition initiatives.