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Disparate tech platforms and data sources are the greatest barriers to using attribution more effectively, say 41% of marketers in the Asia Pacific region
This comes from our new report State of Marketing Attribution in Asia Pacific which is based on a survey of more than 400 APAC respondents.
Marketers continue to be ambitious with creative digital campaigns and cross-device usability as new technologies emerge, but many still don’t truly understand which channels are actually working.
Attribution may not be the most exciting subject, but measuring the success of your marketing channels should play an integral role in your marketing strategy.
Don’t take my word for it - top brands successfully riding the omnichannel wave are proving that it works.
When trying to improve your digital marketing skills it’s advisable to learn from the best in the business.
In social media that means taking a lesson from KLM, an airline that can achieves €25m in social sales each year.
At Econsultancy’s Festival of Marketing today KLM’s social media manager Karlijn Vogel-Meijer gave an insight into the company’s strategy, which is built around a laser focus on the customer experience.
The talk kicked off with a reminder of a very important rule for social marketers: you’re a guest at someone else’s party.
It's pleasing to have so many upper case letters in a headline.
It's an interesting time for the retailer, with increased numbers of stores and successful expansion into the USA.
Here's what Jared had to say about life on the PPC shop floor.
My circadian rhythms are still lost somewhere off the coast of California, but the rest of me is back in New York after a fantastic week in Australia, where I attended Digital Cream Sydney and visited with marketers around the city.
It was a pleasure and inspiration to meet so many smart, creative people and to hear what they’re excited about (and frustrated by) in digital marketing.
Smartphones can support impulsive purchasing – browsing a retailer’s website while waiting in a supermarket queue and clicking 'buy now', for instance.
Meanwhile, the widespread use of tablets as second screens presents the opportunity to make purchases, perhaps in response to advertisements, from the comfort of your sofa.
Digital window-shopping, or showrooming, is common among smartphone users and often leads consumers into physical stores to try on or test products, or to making online purchases from another device at another time.
Marketers live in a world that is creating 2.5 exabytes of data each and every day.
This provides both a challenge and an opportunity to marketers. How can they process and harness big data in faster and more innovative ways to deliver deeper insights and improved business performance?
Advertising on the internet and mobile has increased by 17.5% to £3.04bn in the first half of 2013 according to the IAB, an increase of £607m compared to 2011.
Analytics has played a key role in this growth by helping marketers accurately measure return-on-investment (ROI) and justify reallocating traditional media budget to digital marketing. However, with the amount of data now available to digital marketers via analytics, they’re in danger of becoming data squirrels that hoard data but do nothing with it.
There aren’t enough analysts in the world or hours in the day to manually analyse all the available data, and crucially, turn it into actions which optimise revenue outcomes.
The marketing potential of Advanced Attribution is huge, and many companies struggle to devise a strategy that’s suitable for them.
Everyone is talking about it, yet marketers find themselves confused, stuck, overwhelmed by the many options, model types, and data sets.
Although adoption is gaining momentum, with brands allocating more resources and budget to attribution modeling, only 26% of companies use advanced attribution that goes beyond last-click according to an Econsultancy Quarterly Digital Intelligence Briefing.
This is truly alarming, considering that companies spend sums of up to and more than £5m annually to drive customer acquisition in online marketing alone. This is huge investment that is not necessarily ROI proven.
So, how can you use the platform to turn data into insight and action?
Here are three ways marketers can approach it, without becoming stuck.
It's well known that the affiliate channel works on a cost per acquisition (CPA) model, meaning that when the desired action is completed, be it a sale, lead or quote, the affiliate is paid.
To be able to attribute the sale to an affiliate there needs to be an agreed metric by which a sale can be attributed.
Typically this is a 'last click wins' model: if the last click is attributed to a particular publisher then they receive the commission.
Over 100 senior marketers attended our inaugural roundtable event in Hong Kong last month.
They deftly explored and shared nimble ways to utilise the very latest digital marketing ideas and techniques in order to better equip themselves for their future endeavours.
Some were intent on making stronger inroads into mainland China, others were planning on taking full advantage of the small but also highly lucrative local Hong Kong marketplace (a jewel in the China crown), and for a fair number it was to better hone their abilities and skills to market across the whole APAC region.