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14.05.2019 Interview: What are the trending topics around Marketing Attribution?

Jörn Grunert is a MarTech enthusiast and expert in data-driven marketing attribution. For 6 years, he has been Managing Director at Exactag and is responsible for the strategic orientation of the company. With over 20 years of experience as a leader in digital AdTech and MarTech start-ups, he sets the course for innovative technologies.
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07.05.2019 4 tips how marketers can keep pace with growing technological innovations

The level of innovation in the technology sector is constantly rising and presents a lot of new challenges to many companies. It is becoming increasingly difficult for marketing managers to keep up with the latest trends and developments in technology. The growing number of AdTech and MarTech solutions poses growing challenges to marketers in terms of budget, staff, training and time.
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Using Marketing Attribution to understand the Customer Journey

MarketingAttribution_CustomerJourney
16. 10. 2018

The customer journey is becoming increasingly complex. Consumers are exposed to numerous marketing measures and switch seamlessly between different channels and devices to get in touch with brands. Advertisers are facing the huge challenge of finding out which of the many touchpoints have contributed to the success of a conversion.

In this article, we show how marketing attribution can help you learn from the customer journey and optimize your marketing.

 

ADVERTISERS FACE 3 KEY QUESTIONS

  • How can I measure the performance and success of my marketing efforts?
  • How can I create relevant and personalized customer experiences?
  • How do I optimize my advertising budget within and between channels? 

In the end, marketing specialists strive to combine cause and effect: Which marketing measures motivate which consumers to convert? This is where marketing attribution comes in.

 

THE BENEFITS OF DATA-DRIVEN ATTRIBUTION

Data-driven attribution is an advanced method of measuring marketing effectiveness that takes into account cross-channel and cross-device customer journeys. When planning marketing campaigns, rule-based models such as the last cookie wins model are still frequently used. In fact, however, these models usually attribute the success of a conversion to only a single or a very few touchpoints without taking other important advertising contacts into account. The result is a greatly simplified and little meaningful view of the customer journey.

Data-driven attribution models, on the other hand, capture the influence of each touchpoint along the customer journey across channels and devices. The model is based on algorithms and statistical analyses continuously calculating the value contribution of each individual contact points within the journey.

The analysis takes into account various factors, such as synergies between individual channels and devices, as well as changes in market conditions or customer behavior. This way, patterns quickly become visible and cross-effects or dependencies become clear. Therefore, the model refines itself autonomously.

Learn more about this topic in our blog post: Data-driven Attribution.

 

DISSOLVING MARKETING SILOS

Data-driven attribution gives advertisers a holistic view of their clients' customer journeys. These customer insights open up new opportunities for advertisers and can help generate long-term success. The role that various marketing measures play in the customer journey becomes clear to advertisers and can be taken into account in the planning and strategy of future measures.

These accurate analyses allow advertising budgets to be used more effectively and marketing strategies to be optimized. Especially in the digital age, marketing specialists should not see their marketing channels in silos, but instead measure the collective effect of marketing.

The acquired knowledge helps advertisers to reach their customers accurately with the right channels. As a result, marketers benefit from shorter sales cycles and long-term customer retention.

 

CONCLUSION

Marketing attribution provides a holistic view of the customer journey across all channels and devices. This transparency and the holistic approach ensure that marketers can optimize their marketing measures and use budgets more efficiently.  

 

All you need to know about Marketing Attribution

Interview: What are the trending topics around Marketing Attribution?

14. 05. 2019
Jörn Grunert is a MarTech enthusiast and expert in data-driven marketing attribution. For 6 years, he has been Managing Director at Exactag and is responsible for the strategic orientation of the[...]

4 tips how marketers can keep pace with growing technological innovations

07. 05. 2019
The level of innovation in the technology sector is constantly rising and presents a lot of new challenges to many companies. It is becoming increasingly difficult for marketing managers to keep up[...]

This is how travel brands benefit from marketing attribution

16. 04. 2019
Bookings via traditional travel agencies are declining nowadays. More and more consumers book their holidays online. The internet offers travelers far more opportunities for comparison and they[...]