eMarketer Cross Channel Attribution Report: Additional Channels Now a Requirement
As major marketers continue to spend across a broader mix of channels, measuring impact of those investments is becoming both more important and more difficult at the same time. According to a new eMarketer report on Cross Channel Attribution which prominently features MarketShare, the methods most marketers rely on today to measure attribution don’t translate well to cross-platform campaigns.
“Digital attribution is being fueled by digital marketing managers’ desire to optimize the budget world they control,” says MarketShare EVP Pat LaPointe in the report. “But digital is rapidly being merged into the rest of the marketing organization. At a higher level, nobody cares what makes people click. They want to know what makes them buy...and then buy more. That mainstreaming of digital into the full marketing spectrum now requires that attribution be more holistic and connected to the big picture.”
Some companies are combining top-down and bottom-up approaches for a more complete attribution picture. For example, one MarketShare software client mixes both models. By nature, says LaPointe, most of the firm’s sales transact online, though some are in-store. So MarketShare first integrated online and offline data into a marketing mix model to determine how offline channels drive website traffic, online shopping cart activity, and transactions. The company was also sensitive to external factors affecting disposable income levels, so those were incorporated as well. MarketShare then developed individual attribution models to uncover which digital pathways were truly driving sales. “By connecting the top-level view of the market with the individual pathway attribution view, we were able to not just optimize those things that were in the addressable portion of the marketing tactics, but we were able to do it with a sense of the dollars and cents involved in doing so,” says LaPointe.