As a former brand marketer, I’m all too familiar with the sea of data marketers continually wade through. The days of simply looking at two or three channels are a distant memory. That said, a lot of marketers struggle to effectively assemble cross-channel data to drive better business outcomes.
You’ve probably heard all the buzzwords around big data and attribution. It can be hard to wrap your head around stats such as “a recent IBM report stated that 90% of data in the world today has been created in just the last two years”. While true, it makes using big data or existing data streams sound unwieldy to manage and difficult to make useful. Despite the volume of data, there are solutions in the marketplace that can make it easy to better understand the customer journey and use this data to turn insights into action.
Listening to client conversations and talking with partners piqued our curiosity about how mainstream marketers are using customer data and how they are leveraging it to create stronger attribution capabilities. Earlier this year, Kenshoo commissioned Forrester Consulting to conduct a survey of more than 100 marketers, advertisers, and customer insight professionals across all industries in US, UK, and German organizations with more than $5 million marketing budget.
The survey revealed several interesting findings. For example, on average, marketers are using 13 channels to drive marketing and media objectives, with 8 of the top 10 channels being digital. Clearly marketers have an increasingly multi-channel approach. Yet, only 1 in 9 marketers use advanced attribution methods to connect the dots between channels.
Following the customer journey is more important than ever as media fragmentation has increased and consumers spend more and more time with social media – across multiple devices. It’s imperative for marketers to better understand how and where to best engage with their customers. Cross-channel attribution is key to optimize engagement and drive business results.
Please join us on October at 14 at 1pm EST for a webinar that explores this topic, “From Insight to Action: Executing Successful Cross-Channel Attribution and Optimization.” Presented by Kenshoo and featuring Forrester analyst, Tina Moffett, during this webinar, you’ll learn about attribution adoption, obstacles many organization face when activating insights, opportunities for data-driven optimization, and the power of predictive intelligence. Register today.
Click here to download the full Thought Leadership Paper: “Cross-Channel Attribution Must Convert Insights into Action”