Attribution is one of the hottest topics in the world of digital marketing at the moment. As more companies try to tackle this area, Econsultancy has this week published a Marketing Attribution Management Buyer's Guide, with a focus on market trends and the main players in this sector.
Unpublished research for the Econsultancy / Lynchpin Online Measurement and Strategy Report 2011 (to be released in late June) has found that only 24% of companies are carrying out attribution modelling to give more insight into the relationship between different channels.
However, we expect this percentage to grow signficantly over the next few months due to wider availability of technology and an increased understanding of the need to allocate the right value to the right channels.
Digital marketing technology vendors certainly seem to agree that the early adopters will soon be joined by the late majority, for whom 'last click wins' will also no longer be enough. An array of companies are lining up their tanks on the attribution lawn in a bid to offer tools and modelling frameworks which can serve as the foundation for a cohesive and strategic approach to marketing activity.
Understandably, everyone wants to be at the centre of the action. Companies with a heritage in web analytics, paid search technology, tag management and ad serving are all stepping forward to offer their clients attribution technology.
Agencies and consultancies are also pushing modelling frameworks which can help marketers understand the relationship between different digital and offline customer touch points on the customer journey.
The challenge for advertisers is to understand which vendors offer the most appropriate technology and services. As with web analytics technology, the most important requirement is to have actionable data.
Malcolm Maclean, Head of E-commerce at BAA Airports, offers this advice to buyers: "Be clear what you are trying to achieve, and work in association with your agencies and technology partners. Look at the data to determine the attribution model that is right for your business. There is a danger that agencies may encourage a client to adopt a particular attribution model through self-interest and / or incorrectly applying their experience with other clients to your business."
Caveat emptor. The aim of this report is to shed more light on this industry and equip buyers with as much information and knowledge as possible.
The report contains profiles submitted by vendors which detail types of attribution, channels tracked, data sources ('primary' and 'integrated'), types of attribute, types of reporting and data output.
The 18 suppliers of technology and services profiled in the report are as follows: Adobe, Atlas, ChannelAdvisor, ClearSaleing, Coremetrics, DC Storm, DoubleClick, Efficient Frontier, Facilitate Digital, Foviance, IgnitionOne, Logan Tod, Lynchpin, Marin Software, Shomei, TagMan, The Rimm-Kaufman Group and Visual IQ.
As well as providing tips for finding the right supplier, summary vendor market positioning charts and matrices, the report looks at the following trends:
- Attribution takes centre stage as marketers grasp the importance of multichannel
- Vendors stake claim for marketing attribution business
- Google launches Multi-Channel Funnels
- Marketers move to more sophisticated attribution
- Attribution holds key to understanding social media value.