What do Marketers Need to Know When Adopting Advanced Attribution Practices?
Companies may know that more advanced attribution practices are needed to prove marketing value in today’s complex media world, but that doesn’t mean they understand, or easily embrace, these practices.
Only 9.1% of US marketers polled by digital marketing news company ClickZ and attribution firm Fospha rated their company’s current understanding of data-driven attribution as excellent. Nearly 12% said it was very poor, while an even higher percentage (22.7%) said it was below average.
Marketers want a better understanding of how their ad dollars are being spent, but simple models like last-click attribution—which credits a purchase or conversion to the last ad a customer clicks—hinder marketers’ analytic capabilities. That’s why some are turning to tactics such as multichannel attribution, which assigns marketing credit to more than one touchpoint or channel.