London, 21st September 2016 - As customer journeys become increasingly complex and fast-paced, it’s imperative for marketers to understand the effectiveness of their campaigns and how each channel contributes to the end conversion. It’s encouraging then that almost four in five (79%) organisations are using marketing attribution, according to research published today by Econsultancy in partnership with AdRoll, a full funnel performance marketing platform.
Key findings from the report include:
The State of Marketing Attribution report, based on a survey of both brands and agencies in the UK, France and Germany, explores current adoption levels and types of strategies organisations are using. The study evaluates the tools and processes employed as well as the potential barriers to its effective use.
The research found that less than a third (31%) of those carrying out marketing attribution do so on the majority of, or all, their campaigns and analyse the results. In this context, the vast amount of data generated by customer actions is seen as both a driver and an inhibitor. While the vast majority of organisations claim that the rise of big data has increased the focus on attribution, this growing volume of data is likely putting more pressure on marketers.
Organisations are lagging behind when it comes to more complex attribution models, with nearly half (48%) still using last-click models. More worryingly, a similar proportion (47%) use first-click, a less intuitive form of attribution. While algorithmic and custom attribution feature among the most effective models (96% and 89% respectively claim they are ‘very’ or ‘somewhat’ effective), less than a quarter (23%) of responding organisations use these methods.
Around half (51%) of client-side marketers choose ‘off-the-shelf’ vendor technology for marketing attribution, while 44% opt for custom-built technology. Over two-fifths (42%) are still resorting to manual attribution with the use of spreadsheet data.
When asked about areas with the biggest issues and gaps, creating a culture of measurement and accuracy (59%), campaign tracking/tagging (56%) and data validation/normalisation (56%) were cited as top-three challenges.
Effective marketing attribution relies on clean data, accurate modelling and skilled analysts that can convert the output into insights and action. The latter is a key stumbling block according to this research, as almost 60% of respondents said that they don’t action the insights they get from attribution.
Econsultancy Research Director, Jim Clark, said: “The sophistication of modern tools means that marketers have the potential to track users much more effectively. But rising numbers of consumer touchpoints – online and offline – makes it challenging to keep up with audiences. This research provides insight into how organisations can master such a complex and fast-moving environment – from partnering with the right vendor to ensuring the correct skills are in place. Arguably these strategies are crucial in order to engage with consumers today, who increasingly expect to be treated as individuals and remembered.”
AdRoll MD Marius Smyth, said: “Attribution continues to be huge area of focus for brands and agencies alike. What we’ve tried to do through this research is get a sense of where marketing is with attribution, shine a light on the issues and challenges facing this discipline, and deliver actionable insights for organisations, whether they are implementing or optimising attribution modelling.”
Other findings from the report include:
Get this report:
The full report is available on the AdRoll website here or by visiting www.adroll.com.SOMA.
For more information about this report or for press enquiries contact:
Anahid Basmajjian, Brand Marketing Senior Manager EMEA, AdRoll, anahid AT adroll.com
Tel: +44 20 7151 4856
AdRoll is a leading performance marketing platform with over 25,000 clients worldwide. Its suite of high-performance tools works across devices, helping businesses attract, convert, and grow their customer base. The company is home to the world's largest opt-in advertiser data co-op, the IntentMap™ with over 1.2 billion deterministic user profiles. AdRoll’s goal is to build the most powerful marketing platform through performance, usability, and openness. AdRoll is headquartered in San Francisco, with offices in New York, Tokyo, London, Dublin, and Sydney. Learn more at www.adroll.com.