Performance Marketing is in Discovering the Value & ROAS of every Marketing Touchpoint!

In the ever-changing landscape of digital marketing, brands and businesses are constantly seeking ways to improve conversions and maximize return on ad spend (ROAS). Multi touch attribution gives you the actionable knowledge required to increase conversions and boost ROAS.

The value is in getting marketing attribution right…every time…all the time.

Much has been written about the complex and multi-channel consumer journeys. Consumers may discover a brand on social media, find its relevance while watching a video on YouTube or they could visit the brand website to eventually make an in-store purchase. All these interactions or touchpoints are critical and understanding the relative importance of each touchpoint is equally important.

?However, there are challenges to overcome:

1.?Availability of Data: We, as marketers, have access to a wide variety of data which comes from multiple sources - CRM data, media data (Impressions, Clicks) and many more. All this data must be stored, cleaned, and refreshed frequently which requires a lot of time and attention. Even seemingly disparate streams of data could prove useful if assembled properly and linked correctly.

2.?Quality of Data: This is critical and important. Remember - Garbage In is Garbage Out. Inaccurate or incomplete data can lead to incorrect attribution, and this can in turn lead to suboptimal marketing decisions. We must understand that BIG data is not necessarily GOOD data. Data that is relevant, current, and properly segmented is what is needed.

3.?Multiple Attribution Models: With varied multi-touch attribution models, selecting / choosing the right model can be a challenge. Make sure that the model you choose is flexible enough to include multiple touchpoints and robust enough to make the insights actionable. A good model should also have predictive capabilities depending on the quantum and granularity of data inputted.

?Thus, it is important to focus on the right attribution model and media touchpoints that are most effective and can lead to improved ROI and better business outcomes.

Some tips to Collect, Analyze & Optimize data for making informed action-oriented decisions.

?1.?Connect your ad server and sales data: Utilize an advanced “AdTech Stack” to effortlessly connect and access data using ad servers, measurement partners, CRM data and API’s. This helps in streamlining the process of collecting & formatting sales or conversion data for both online & offline.

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2.?Mapping unified consumer journey: It is important to map an effective consumer journey between different media touchpoints and between online & offline data so that it lets us discover the important paths that influence sales and/or conversions. It allows us to make channel & partner preference decisions.

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3.?Understanding where to focus for higher returns: With a unified dashboard we can track and optimize all media plans by measuring their attribution and KPIs in real-time. We can identify elements of success and seamlessly funnel budgets basis top performers.

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