Marketing attribution is becoming ever more important to marketing success. 56% of marketers believe attribution is important, while a further 33% believe it’s nothing short of critical. And we expect these numbers to grow even bigger.nnDownload the Playbooknn n
The LeadsRx attribution software measures any and all channels, providing an unbiased look at what channels are working, and how they are working together, to create customer paths to purchase.
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To learn more about multi-touch attribution and how the insights from cross-channel data can help you improve return on ad spend, please book a demo today.
nMany respected companies have published reports on the state of attribution marketing over the past year or so. We selected the most significant and most striking facts we found in those reports.nnWe categorized the stats for you to quickly catch up on what’s been happening in the field. Stats are categories to show why marketing attribution is important, what the most important challenges and opportunities are, and what plans companies have for the future.nn3 minutes from now, you’ll be able to separate attribution facts from fiction. And if you don’t have that much time, take a look at our summarized infographic instead. A colleague is talking about how ‘multichannel marketing’ is overrated? You have the stats to prove him wrong!nnIt’s time to step your attribution game up. Let’s go.n
1. Importance
nAttribution provides efficiency gains of 15-30%nnInbound marketing budget are cut 12% more for companies that don’t calculate ROI.nn67% of shoppers regularly use more than one channel to make purchasesnn9.5 is the number of visits to a retailer’s site before shoppers decide to buynn26% say the reason for choosing their current attribution model is accurately giving revenue credit to marketingn
2. Opportunities
n22% say customizing customer experience is the single most important opportunitynn12% say data-driven marketing that focuses on the individual is the single most important opportunitnn8% say multichannel marketing is the single most important opportunitynn47% say improving the efficiency in the sales funnel is their top sales prioritynn49% say developing a cohesive plan for future customers is ‘most important’nn39% say having well designed user journeys that facilitate clear communication and a seamless transaction is ‘most important’nn34% say having the right technologies for data collection and analysis has the greatest impact on ability to understand the customernn43% believe an ideal measurement solution provides a unified cross-channels viewnn49% say developing a cohesive plan for future customers is ‘most important’ To ‘optimise customer experience’nn74% say matching customers across multiple devices is important to growth, but only 14% has a ‘strong capability to do sonn84% say associating conversion events with marketing is very important to growth, but on 10% has a ‘strong capability’ to do so.n
3. Challenges
n59% say creating a culture of measurement and accuracy is the biggest attribution challengenn22% say they believe they’re using the right attribution modelnn30% say the reason fro choosing their current attribution model is ease of implementation and setupnn77% say they believe they’re not using the right attribution models, or they don’t knownn60% don’t action the insights they get from attributionnn24% of UK companies is very confident that their agencies carry out attribution impartiallynn56% say campaign tracking/tagging is a big attribution challengenn56% data validation/normalisation is a big attribution challengenn70% say cost justification is a challengenn48% say integrating cross-channels attribution with existing methods is a challengenn59% say data collection en centralization is their biggest challengenn50% are struggling with accountability and accuracy of reportsnn50% must report separately on channel budgeting and investmentsnn58% say lack of knowledge hinders proper attribution execution or implementationnn44% say lack of time hinders proper attribution execution or implementationnn41% technology limitations hinders proper attribution execution or implementationnn96% say their algorithmic attribution is at least somewhat effective, while 89% say their custom attribution is. But, just 23% use these methods.nn42% report attribution manually using spreadsheetsn
4. Future Plans
n39% expect to use an average of 6 or more channels over two yearsnn78% of marketers plan to adapt of increase their use of cross channel attributionnn30% plan on changing attribution model in the next 6 monthsn
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What about your marketing attribution plans?
nThe huge amount of mentioned marketing attribution challenges is staggering. The promising start of marketing attribution deserves a good follow up in the shape of practical methods, tips and tricks. Especially if you’re looking to learn more about B2B marketing attribution. Stay tuned on our blog!nnMany respected companies have published reports on the state of attribution marketing over the past year or so. We selected the most significant and most striking facts we found in those reports.nnWe categorized the stats for you to quickly catch up on what’s been happening in the field. Stats are categories to show why marketing attribution is important, what the most important challenges and opportunities are, and what plans companies have for the future.nn3 minutes from now, you’ll be able to separate attribution facts from fiction. And if you don’t have that much time, take a look at our summarized infographic instead. A colleague is talking about how ‘multichannel marketing’ is overrated? You have the stats to prove him wrong!nnIt’s time to step your attribution game up. Let’s go.n
1. Importance
nAttribution provides efficiency gains of 15-30%nnInbound marketing budget are cut 12% more for companies that don’t calculate ROI.nn67% of shoppers regularly use more than one channel to make purchasesnn9.5 is the number of visits to a retailer’s site before shoppers decide to buynn26% say the reason for choosing their current attribution model is accurately giving revenue credit to marketingn
2. Opportunities
n22% say customizing customer experience is the single most important opportunitynn12% say data-driven marketing that focuses on the individual is the single most important opportunitnn8% say multichannel marketing is the single most important opportunitynn47% say improving the efficiency in the sales funnel is their top sales prioritynn49% say developing a cohesive plan for future customers is ‘most important’nn39% say having well designed user journeys that facilitate clear communication and a seamless transaction is ‘most important’nn34% say having the right technologies for data collection and analysis has the greatest impact on ability to understand the customernn43% believe an ideal measurement solution provides a unified cross-channels viewnn49% say developing a cohesive plan for future customers is ‘most important’ To ‘optimise customer experience’nn74% say matching customers across multiple devices is important to growth, but only 14% has a ‘strong capability to do sonn84% say associating conversion events with marketing is very important to growth, but on 10% has a ‘strong capability’ to do so.n
3. Challenges
n59% say creating a culture of measurement and accuracy is the biggest attribution challengenn22% say they believe they’re using the right attribution modelnn30% say the reason fro choosing their current attribution model is ease of implementation and setupnn77% say they believe they’re not using the right attribution models, or they don’t knownn60% don’t action the insights they get from attributionnn24% of UK companies is very confident that their agencies carry out attribution impartiallynn56% say campaign tracking/tagging is a big attribution challengenn56% data validation/normalisation is a big attribution challengenn70% say cost justification is a challengenn48% say integrating cross-channels attribution with existing methods is a challengenn59% say data collection en centralization is their biggest challengenn50% are struggling with accountability and accuracy of reportsnn50% must report separately on channel budgeting and investmentsnn58% say lack of knowledge hinders proper attribution execution or implementationnn44% say lack of time hinders proper attribution execution or implementationnn41% technology limitations hinders proper attribution execution or implementationnn96% say their algorithmic attribution is at least somewhat effective, while 89% say their custom attribution is. But, just 23% use these methods.nn42% report attribution manually using spreadsheetsn
4. Future Plans
n39% expect to use an average of 6 or more channels over two yearsnn78% of marketers plan to adapt of increase their use of cross channel attributionnn30% plan on changing attribution model in the next 6 monthsn
n
What about your marketing attribution plans?
nThe huge amount of mentioned marketing attribution challenges is staggering. The promising start of marketing attribution deserves a good follow up in the shape of practical methods, tips and tricks. Especially if you’re looking to learn more about B2B marketing attribution. Stay tuned on our blog!