Marketing TechnologyData & AnalyticsThe power of real-time attribution in a multi-channel world

The power of real-time attribution in a multi-channel world

It’s more important than ever nowadays to understand your most effective channels. In a multi-channel world, attribution becomes harder and marketers want to know how to allocate their budget for increased success. Real-time attribution can be extremely helpful in understanding how conversions occur, especially when it’s combined with the right data to support your campaign optimization.

The rise of emerging technologies has changed consumers’ behavior. Artificial intelligence, augmented reality and voice assistants have pushed consumers into a new form of interaction with brands and their content. Marketers have been introduced to a new world where a campaign is not restricted to traditional channels, but they need to shift their strategy to speak to their target audience.

Moreover, the increased mobile usage has created a multi-channel world that goes beyond one single device. This brings out the challenge for marketers to create campaigns that overlap channels successfully. There comes the need to explore which channel has been more effective and which part of their campaign has been the best-performing.

The speed of access to new content has also turned consumers more demanding. They tend to be more impatient after being used to access everything through their phones in a matter of seconds.

How do marketers react to this change and how can they effectively measure their campaigns?

Making the most of attribution

Attribution aims to help marketers understand the success of their campaigns. It can help them explore the most effective touchpoints, or else, the elements of their strategy that led to the highest number of conversions.

The traditional idea of attribution had to do with the process of discovering the last touchpoint that led to a conversion. For example, if your campaign’s goal was to increase your number of email subscribers, the number of downloads of a gated ebook could be attributed as the reason of the increased subscribers. This measurement may be enough, but you may be missing further opportunities to understand your funnel.

This may involve a growth of subscribers that may have also occurred from an improved social presence and an optimized messaging in your paid ads.

By attributing the success to a particular ebook, you may be missing the chance to understand how your potential customers interact with you and what they like most from your online presence.

A modern approach to attribution is about analyzing the complete marketing funnel to spot all the touchpoints that played a key role in your ultimate goals.

It’s about focusing equally on all stages of a campaign to acknowledge how all of them can play a crucial role to your objectives.

That’s when the discussion about real-time attribution comes up among marketers who seek for improved success.

Embracing real-time attribution

As marketing becomes more sophisticated, it’s important to scale up your attribution strategy to analyze your results in the most detailed way.

Real-time attribution can help you extract the right insights to supercharge your campaign. The idea of real-time attribution requires the use of technology and the tools that will help you understand the performance of your campaign while it takes place.

It can be considered the revolution of marketing measurement, as it can have multiple benefits:

  • Testing creatives
  • Optimizing the message
  • Adjusting the budget based on the current ad performance
  • Understanding your audience’s reactions
  • Gaining useful learnings for your next campaigns
  • Maximising conversions

The power of real-time attribution comes from the fact that you’re adjusting to a new world where technology can leverage your campaigns to extract precise data.

There’s no need anymore to wait for the end of the campaign to explore the touchpoints and their results. The focus on data in real-time can improve your marketing skills and make your campaigns more effective.

Even if it’s not possible to analyze the data in real-time but in ‘almost real-time’, you can still extract great learnings that can help your campaign.

This, of course, requires a focus on data and knowing how to use it when analyzing your campaigns.

➥ View the full article on our Attribution Knowledge Hub

Related Articles

How to get started with your marketing attribution strategy

Data & Analytics How to get started with your marketing attribution strategy

1m Tereza Litsa
Selecting the right Customer Data Platform

Data & Analytics Selecting the right Customer Data Platform

2m David Raab, CDPI
5 things to consider when selecting a multi-touch attribution vendor

Data & Analytics 5 things to consider when selecting a multi-touch attribution vendor

2m Clark Boyd
Why do you need multi-touch attribution?

Data & Analytics Why do you need multi-touch attribution?

3m Sam Carter
Bad data breeds bad leads: Cleaning up data for the sake of the B2B sales cycle

Data & Analytics Bad data breeds bad leads: Cleaning up data for the sake of the B2B sales cycle

3m Mike O'Brien
Introduction to Customer Data Platforms

Data & Analytics Introduction to Customer Data Platforms

3m David Raab, CDPI
GDPR: How US businesses are preparing

Data & Analytics GDPR: How US businesses are preparing

4m Clark Boyd
6 changes in marketing measurement that will impact 2018

Data & Analytics 6 changes in marketing measurement that will impact 2018

4m Sam Carter